Wednesday newspaper round-up: Cars, tax havens, Metro Bank, Unilever

As part of a government strategy to improve air quality, Britain is to ban all new petrol and diesel cars and vans from 2040 amid fears that rising levels of nitrogen oxide pose a major risk to public health. The commitment, which follows a similar pledge in France, is part of the government’s much-anticipated clean air plan, which has been at the heart of a protracted high court legal battle. - Guardian

Almost 40% of corporate investments channelled away from authorities and into tax havens travel through the UK or the Netherlands, according to a study of the ownership structures of 98m firms. The two EU states are way ahead of the rest of the world in terms of being a preferred option for corporations who want to exploit tax havens to protect their investments. - Guardian

Metro Bank tabled plans to raise up to £278m through a share issue after experiencing "strong and accelerating organic lending growth", which had propelled it to its fourth straight quarterly profit. The challenger bank said lending rose 67pc year on year to £7.8bn in the three months ended June 30. – Telegraph

The Guardian has developed plans to erect a paywall around its website and apps if its existing membership scheme and appeals for donations do not meet financial targets amid upheaval in the news market. It is understood that the publisher has called in consultants to work on the details of compulsory subscription charges for some material, despite the growth of voluntary contributions. The proposals are "finished and ready to go", a source said. – Telegraph

Unilever’s sale of its £6 billion spreads division looks set to begin in earnest after two of America’s biggest private equity firms teamed up to make an offer. Clayton Dubilier & Rice and Bain Capital are understood to have formed a consortium to construct a possible bid for the business, which includes Flora, Stork and I Can’t Believe It’s Not Butter among its brands. – The Times

Janet Yellen is in the running to serve a second term as chairwoman of the Federal Reserve, President Trump said yesterday, completing a remarkable reversal of his position on the campaign trail last year. Gary Cohn, the former Goldman Sachs banker who serves as chief economic adviser to the president, is also a candidate to run the central bank, Mr Trump said. – The Times