Wednesday newspaper round-up: Commuters, broadband speeds, Debenhams

The morning flow of commuters arriving at Canary Wharf, London’s financial district, was a trickle on Tuesday rather than the torrent traditionally associated with the end of summer return to work. Sparse numbers of suited and smartly dressed workers emerged from the underground station, clutching their morning takeaway coffees, destined for the corporate headquarters of banks, financial services companies and law firms. – Guardian

The UK has plummeted down the global broadband speed rankings to rate as one of the slowest countries in Europe, with a typical household taking more than twice as long to download a movie than the average home in western Europe. Britain has dropped 13 places in an annual study ranking the average broadband speeds of 221 countries and territories, placing it 47th fastest in the world. Last year, the UK ranked 34th for average broadband speed.- Guardian

Australia suffered its worst economic downturn on record last quarter as it battled the coronavirus crisis, while fresh outbreaks threaten to upend an already bumpy road to recovery and pile pressure on the government to keep fiscal taps open. Data from the Australian Bureau of Statistics on Wednesday showed the country's A$2 trillion (£1.1 trillion) economy shrank 7 per cent in the three months to the end of June from a 0.3 per cent decline in the March quarter. – Telegraph

Britain will be at increased risk of blackouts under Ofgem plans to cut investment in energy networks, the boss of National Grid has claimed. John Pettigrew warned that power lines in parts of the country would start to “decay” after the energy regulator rejected its proposals to bill consumers for replacing them. – The Times

Bidders for Debenhams were told to display their interest in rescuing the department stores chain by the end of yesterday as doubts grow about the future of the business. Advisers at Lazard, the investment bank running the sale process, told interested suitors that they needed to submit bids by 5pm yesterday. An insider said that the process was a “checkpoint” to verify there was genuine interest in rescuing the business. – The Times