Friday newspaper round-up: Water companies, Tesla, tax avoidance, Provident Financial

Barclays’ former chief executive has defended a 2008 Qatari investment as key to the bank’s global ambitions but distanced himself from negotiations that led to a complex agreement that is at the heart of a criminal trial. A jury at Southwark crown court was read statements from three of the four defendants facing charges, including the former chief executive, John Varley. The statements were originally issued to Serious Fraud Office investigators in 2014. – Guardian

Gambling-style features in computer games, which encourage players to pay for items such as loot boxes that may be worth very little, warrant stricter oversight by the Gambling Commission to prevent them becoming a “gateway” to betting addiction, Labour’s deputy leader, Tom Watson, said. Speaking as he proposed much tighter controls on online gambling, including caps on the amount that consumers can gamble, Watson said not enough was being done to deal with gambling through games. – Guardian

Public support for renationalising the water industry has plummeted after a recent survey revealed that British adults trust their water company more than a local council. The survey found that almost nine in ten adults trust their water company to deliver the essential service. Meanwhile only a third of the public said they had confidence in local councils and trade unions to play a role in doing so. – Telegraph

Tesla has fulfilled its long awaited promise to start selling a $35,000 car, as it announced it would be closing stores and moving all sales online. The electric car company released a more affordable version of its Model 3 car for customers to order on its website last night, fulfilling a long-held commitment to make the car cheaper. – Telegraph

Brussels has accused Britain of enabling tax avoidance by big business in a move that may foreshadow a post-Brexit battleground. In its annual report on the UK, the European Commission drew particular attention to dividend tax arrangements, which it claimed made Britain attractive for “treaty shopping” and “aggressive tax planning”. – The Times

Shareholders backing a bid for Provident Financial from its rival Non-Standard Finance have fallen below 50 per cent after Neil Woodford cut his holding in Provident. Woodford Investment Management disclosed to the stock exchange yesterday that it had sold 1.5 million shares in Provident. The sale slightly reduces the percentage of shareholdings backing NSF’s hostile bid from 50 per cent to 49.41 per cent. – The Times