Tuesday newspaper round-up: Brexit vote, construction, dairy, Pearson

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Sharecast News | 31 Oct, 2017

A Brexit agreement with the EU would need to be enshrined in law and be subject to scrutiny and a vote by MPs and peers, ministers have conceded. Until now Theresa May and David Davis, the Brexit secretary, have insisted that parliament will only be given a “take it or leave it” vote on the overall deal, without the need for primary legislation. - The Times

Gordon Brown has claimed bankers should have been jailed for their fraudulent and dishonest behaviour during the financial crisis that led to Britain’s deepest post-war recession and his defeat in the 2010 general election. The Labour former prime minister used the second extract from his memoirs to warn that the failure to take a tougher line with wrongdoing – as pursued by other countries – has made it inevitable that rogue bankers will again gamble with public money. - Guardian

Almost one in three construction jobs could be eliminated over the next two decades as advances in robotics and digital technology mean human builders are replaced. New research from Mace predicts 600,000 of the current 2.2m positions in the industry could be automated by 2040 as the “Fourth Industrial Revolution” turns the sector on its head. - Telegraph

Nationwide has paved the way for an across-the-board increase in mortgage costs by announcing that a 0.25% interest rate rise would be passed on in full to its 600,000-plus variable-rate home loan customers. The building society said that if, as is widely expected, the Bank of England lifts the base rate by 0.25% to 0.5% on Thursday, it would increase both of its variable rates by 0.25%. - Guardian

Pearson is understood to be nearing a sale of its English-language teaching business to two Asian private equity funds for up to $400 million. Wall Street English has been teaching conversational English to professionals and university students around the world for use in conference calls, negotiations and presentations for 45 years. - The Times

Employers are looking for skilled workers to smooth the transition out of the European Union, pushing the number of professional jobs available in the UK up 7pc in the last three months. According to recruitment firm Robert Walters, job volume growth was strongest in supply chain accounting and procurement roles, where the number of jobs available compared to last year was 15pc and 13pc higher respectively. - Telegraph

Supermarkets are raising the cost of milk as a dairy shortage hits supplies — but a pint is still cheaper than bottled water. Morrisons has responded to soaring prices at the farm gate by raising the price of four-pint bottles from £1 to £1.10, with industry experts saying other supermarket chains are highly likely to follow. - The Times

The chief executive of British Airways, Willie Walsh, has rejected claims that flights between the European Union and the UK will be grounded in a "no deal" Brexit scenario. “The prospect of there being no flying between the UK and Europe, I don’t agree with at all,” Mr Walsh told the House of Commons Transport Committee. - Telegraph

The NHS is planning to stop prescribing a life-changing drug after the only supplier increased the price of a tablet from 16p to £9.22. Thousands of patients with thyroid problems could be forced to travel to Europe to buy liothyronine, where a packet costs a few euros. The price rises were brought in by Concordia International and a company that it bought. - The Times

Philip Hammond is pinning his hopes for a successful budget next month on a hedge fund economist. The chancellor said yesterday that Steffan Ball, chief economist at Citadel, a $26 billion hedge fund based in Chicago, was his new economic adviser. - The Times

Celebrities and football managers are among almost 200 members of a huge tax avoidance scheme preparing a landmark £100 million legal action against three banks and a Hollywood studio. The investors allege that Barclays, Bank of Ireland, HSBC and Disney misrepresented the chances of the Eclipse film investment scheme delivering tax breaks, with the result that many now face huge tax bills and possible bankruptcy. - The Times

GPs are to vote on quitting the NHS and going private, calling for their union to help them to develop plans for charging patients. Doctors will also vent their frustration during a conference next week at having to see more patients, insisting they should be able “to say ‘no’ without feeling guilt”. - The Times

Chemicals giant Ineos has bought Belstaff, the British heritage fashion brand, in the latest off-centre move by its founder and chairman, billionaire Jim Ratcliffe, a month after he unveiled plans to start making cars. On announcing its purchase of Belstaff, Ineos cited its "links to automotive". - Telegraph

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