Tuesday newspaper round-up: Murdoch, Ford, Co-op, QE

A campaigning group opposed to Rupert Murdoch’s takeover of Sky is threatening a legal challenge to the media regulator’s ruling that the broadcaster would remain “fit and proper” to hold a UK licence if it was snapped up by 21st Century Fox. Activist group Avaaz has hired lawyers and launched the first steps of a judicial review against the communications regulator following its report into the £11.7bn bid by Murdoch’s 21st Century Fox for the 61% of Sky it does not already own. – Guardian

Ford has announced a car and van scrappage scheme in a bid to get dirtier vehicles off the roads and boost its sales in the UK’s flagging car market. While other manufacturers, including Vauxhall and BMW, have launched scrappage schemes this year, Ford’s is unusual in allowing customers to trade in and scrap any brand of older vehicle for at least £2,000. – Guardian

The Co-operative Group will slash its stake in Co-op Bank after shareholders approved a £700m rescue of the lender. Five US hedge funds bailed out the lender and will now largely own it after supplying vital funds to stave off the threat of it being wound up. – Telegraph

Brevan Howard's billionaire co-founder Alan Howard has returned to London after seven years in Geneva, resurfacing in the City just as it fights to retain its crown as Europe's financial centre post-Brexit. One of Britain's wealthiest fund managers, Mr Howard moved to Switzerland in 2010 - a time when many in the City were lured over by the low tax environment - and stayed there until this past weekend. – Telegraph

The former Treasury mandarin who oversaw the introduction of quantitative easing eight years ago has described money printing as “heroin” for policymakers and said it was “time to move on”. Lord Macpherson of Earl’s Court was permanent secretary to the Treasury when the Bank of England began QE in March 2009 to stave off depression and prevent deflation. Since then, what was an emergency tool has increasingly become standard practice. – The Times

The former chief executive of Lloyds Banking Group and one of his top lieutenants are suing the bailed-out lender for hundreds of thousands of pounds in unpaid bonuses in a move that risks sparking public outrage. Eric Daniels and Truett Tate, former head of the wholesale banking division, this month filed legal claims with the High Court against the bank. – The Times