Monday newspaper round-up: Brexit plan B, warehousing, energy suppliers

Theresa May halted the cross-party approach to Brexit last night as she told her cabinet that she would focus on securing changes from Brussels designed to win over rebel Conservatives and the DUP. The prime minister used an evening conference call to announce that she would seek changes to the backstop, the Northern Ireland insurance policy to avoid a hard border, or its removal despite repeated refusals by the European Union to budge on the issue. - The Times

Theresa May is considering amending the Good Friday Agreement as part of a fresh attempt to unblock the Brexit logjam, The Daily Telegraph understands. The Prime Minister will on Monday update Parliament on her attempts to draw up a so-called "plan B" for Brexit following cross-party talks in Westminster - and discussions with other EU leaders.

Three-quarters of UK warehouse owners say their space is full to capacity and storage costs have soared by up to 25% in the past three months after a surge in Brexit-related inquiries. The UK Warehousing Association (UKWA), whose 750 members have more than 9.3m sq metres (100m sq ft) of space nationwide, said there was a shortage of space close to major cities for stockpiling goods in case of holdups at ports after a no-deal exit from the EU. - Guardian

Labour is no longer insisting that Britain get the same benefits from the EU after Brexit, Sir Keir Starmer has revealed as he appeared to soften the party’s position on the Irish backstop. The shadow Brexit secretary said that Labour would consider a deal that delivered a “very close” relationship to EU membership, in what appeared to be a softening of one of the six tests set out by the party. - The Times

The Irish government will resist any attempt to change the withdrawal agreement, the draft treaty that includes the backstop, amid growing disquiet at Britain’s attempts to renegotiate the Brexit deal. Senior Irish figures were responding to suggestions by Liam Fox, the trade secretary, that Britain wants to rewrite the insurance policy that guarantees no hard border. - The Times

Matt Hancock, the health secretary, has asked for the Navy to help with the delivery of medicines if there is a no-deal Brexit. However, the Navy has warned that it will take up to a year to refit its ships to allow sufficient numbers of crew to travel alongside the cargo, meaning they will not be ready in time for Brexit day on March 29. - The Times

Airlines have been criticised for failing to tell people that plane tickets could be cancelled and passports invalid if there is no Brexit deal. Up to five million tickets may have to be cancelled, according to the International Air Transport Association. - The Times

China’s economy grew 6.6% in 2018, its slowest pace in almost 30 years, confirming a slowdown in the world’s second largest economy that could threaten global growth. After years of breakneck expansion, the world’s second largest economy is losing steam, official data on Monday confirmed. China’s growth in 2018 was the country’s slowest reported rate since 1990 and down from 6.8% growth in 2017. - Guardian

A record number of people switched energy supplier last year as consumers were hit with the highest number of price hikes in recent history. However, the energy industry warned that progress risked being undermined by fewer people shifting because of the government’s price cap. - Guardian

National Grid, the British utility firm, is powering new tech start-ups in the United States through a $250m (£193.9m) venture capital fund based in Silicon Valley. National Grid Partners has invested in six US energy start-ups in two months since the FTSE 100 network ­giant launched a development fund in California towards the end of last year. - Telegraph

House prices in some of Britain’s wealthiest areas have had up to 25% wiped off their value in 12 months as Brexit turmoil continues, according to the estate agent Your Move. That has meant typical price falls in some cases of almost £500,000. - Guardian

A further 175,000 jobs will be shed from struggling UK high streets this year and the value of retail property will slump as the boom in online shopping and rise of giants such as Amazon continue to take their toll, research warns. More than 23,000 shops are forecast to close in 2019, according to the findings published on Monday in an annual report from the real estate adviser Altus Group. - Guardian

Retail tycoon Mike Ashley is hoping to further his grip on the UK's battered high street by weighing up a rescue of Britain's 97-year-old music chain HMV. The Sports Direct founder, who has recently snapped up House of Fraser as well as the remnants of Evans Cycles, has held "serious" talks with key executives about buying the business out of administration. - Telegraph

UK-listed firms paid record dividends last year, thanks to rising profits, but a report warns that shareholder payouts could take a big hit if Brexit goes badly. Companies listed on the UK’s main market shelled out £99.8bn in dividends over 2018, marking a 5.1% rise from a year earlier, according to the latest dividend monitor report by Link Asset Services. - Guardian

The growing concentration of the world’s wealth has been highlighted by a report showing that the 26 richest billionaires own as many assets as the 3.8 billion people who make up the poorest half of the planet’s population. In an annual wealth check released to mark the start of the World Economic Forum in Davos, the development charity Oxfam said 2018 had been a year in which the rich had grown richer and the poor poorer. - Guardian

Electronics giant Sony is planning to merge its UK-headquartered European business into its Dutch arm as Japanese companies manoeuvre to soften the impact of a no-deal Brexit. The move will see Sony’s £3.3bn European business register its corporate seat, effectively its legal headquarters, in Amsterdam. - Telegraph