Monday newspaper round-up: Economic forecasts, Metro Bank, KPMG

An influential committee of MPs has condemned as unacceptable the number of IT failures in the financial services sector, which it said have left customers “cashless and cut off”. With bank branches and cash machines disappearing, customers are increasingly reliant on online banking services, but these have been severely disrupted by IT failures at firms including TSB, Visa, Barclays and Royal Bank of Scotland, the Treasury committee said. – Guardian

Labour has demanded Sajid Javid immediately publish economic forecasts prepared for the budget to ensure the government does not avoid public scrutiny before a potential election. In a letter to the chancellor seen by the Guardian, John McDonnell called for the urgent release of forecasts compiled by the Office for Budget Responsibility (OBR), the independent Treasury watchdog. – Guardian

Metro Bank has been left more than £2m out of pocket after the collapse of Orla Kiely, the fashion brand favoured by the Duchess of Cambridge and model Alexa Chung. “It is not anticipated that the secured creditors [Metro] will be paid in full,” administrators from Quantuma have said. They added that having spoken to other creditors, Orla Kiely’s administration has now been extended and is expected to end in September 2020. It collapsed in September last year. – Telegraph

Retail investors may be separated from institutional funds to protect individuals better in the wake of the collapse of Neil Woodford’s business, the head of the City regulator has said. The disintegration of the Woodford Equity Income Fund poses questions about whether large and small investors should be mixed, Andrew Bailey said in an interview with The Times. – The Times

KPMG is considering closing its private members’ club in Mayfair as part of a plan to save £100 million in costs. The accountancy firm converted a townhouse on Grosvenor Street four years ago into a meeting place for its partners and well-heeled clients who might feel more at ease in the West End than at its headquarters in Canary Wharf. – The Times