Friday newspaper round-up: Brexit, BoE, Flybe, Berkeley, water companies
Theresa May warned MPs that the public wanted Brexit “settled” as she faced bitter opposition from her own party to her EU exit deal yesterday. The prime minister presented the draft agreement on a future relationship with Europe to a largely hostile Commons after closing a 17-month negotiation earlier than expected. - The Times
...Iain Duncan Smith, Boris Johnson and Dominic Raab led the demands for a rethink as May faced MPs in a two-and-half-hour session on Thursday, in which the prime minister insisted that a final Brexit deal “is now within our grasp”. But in Europe, Germany said it was time to “put a lid on this pot” and conclude the deal at Sunday’s Brexit summit, while the EU prepared to lay out future negotiating demands over fisheries. - Guardian
The UK has been accused by Spain of “treachery” and acting “under the cover of darkness” in an escalation of a war of words over the future of Gibraltar that risks derailing Theresa May’s Brexit deal. Marco Aguiriano, Spain’s secretary of state for the EU, said on Thursday that his government could “stop the clock” on the negotiations and force May and the other EU leaders to come back in December unless it gets its way in the next 48 hours. - Guardian
Virgin Atlantic has opened talks with the ailing regional airline Flybe, which recently put itself up for sale amid mounting losses, according to reports last night. The transatlantic airline backed by Sir Richard Branson’s Virgin Group is interested in Britain’s biggest regional airline in an attempt to better connect long-haul operations with smaller UK airports. - Telegraph
The Bank of England’s policy armoury may become blunter as the population ages because older people with little debt are less affected by changes in interest rates, a ratesetter has warned. Michael Saunders, an external member of the nine-strong monetary policy committee, said that the Bank would need to be “more active” on rates in future as the transmission mechanism becomes “less powerful”. - The Times
One of the most powerful figures in the housebuilding industry was accused of bribing a partner at a leading estate agency, according to legal documents in a claim brought by a former finance boss. The allegations against Tony Pidgley, the founder and chairman of Berkeley Group, were made by Nicolas Simpkin, who was dismissed as finance director in September 2014. - The Times
Consumers face paying half a billion pounds more than expected for the rollout of smart meters and the programme has no chance of hitting its deadline, the UK’s spending watchdog has warned. The National Audit Office said that with 39m old-fashioned meters yet to be replaced, there is “no realistic prospect” of meeting a goal of all homes and businesses being offered one by the end of 2020 as planned. - Guardian
The water regulator has put four of the largest suppliers on notice over their plans to prevent customers from being cut off for days on end over the winter. Thames Water, Severn Trent, Southern Water and South East Water were named by Ofwat as being under scrutiny after 200,000 customers were cut off during the “beast from the east” storms in March. - The Times
An “astonishing” number of IT meltdowns at banks and other financial institutions has prompted MPs to launch an inquiry. The Treasury committee is publishing a call for evidence on the common causes of computer and systems failures at financial services businesses, which can affect millions of customers and put their earnings, savings and investments at risk. - The Times
Struggling retailers are hoping for a boost from this year’s Black Friday, with as much as £1.5bn expected to be spent online alone on one of the biggest shopping days of the year. Britons are expected to spend £10.4bn in total over the US-inspired event which for some retailers now lasts almost a fortnight – 3.1% more than in 2017, according to analysts at GlobalData. - Guardian
Advertisers should boycott technology companies such as Facebook and Google until they show they are serious about tackling the “scandal” of online terrorist material, MPs said yesterday. The abundance of extremist content online was a “disgrace” and had been a key factor in atrocities including the Manchester bombing, the intelligence and security committee concluded. - The Times
Jaguar Land Rover has unveiled an updated version of its Range Rover Evoque that will be built in Britain, in what the company said was a demonstration of its "commitment" to UK manufacturing. The new “baby” Range Rover will be built at the company’s Halewood plant on Merseyside, and the company said it has invested £1bn into the vehicle across its design, R&D, engineering and manufacturing. - Telegraph
Merlin Entertainments has opened its first Dungeon attraction in China — but without the blood, gore and torture usually associated with the brand. The new openings lift Merlin’s Chinese presence to 11 attractions and further expansion is in the pipeline. - The Times
The number of young Britons not in education, employment or training has fallen to its lowest level on record. Official figures for “Neets”, a group once branded as “dropouts”, fell to 760,000 in the three months to September, according to the Office for National Statistics. This was the lowest level since records began in 2001. They accounted for 10.9 per cent of all Britons aged between 16 and 24, a historic low. - The Times
As any saver knows, interest rates can go up as well as down. But they normally do so in conjunction with the economic cycle, and not with the physical activity of the account holder. Now, a Ukrainian bank is offering better rates of interest to customers who prove they are taking 10,000 steps every day, as part of efforts to make its clientele not just richer, but healthier at the same time. - Guardian
The United Arab Emirates has said it wants to reach an amicable conclusion to the dispute over the British academic Matthew Hedges, who was jailed for life on espionage charges this week. The apparent change in tone, viewed as a possible precursor to an act of clemency, came after the British foreign secretary, Jeremy Hunt, warned of serious diplomatic consequences if Hedges was not released, and followed a torrent of cross-party British criticism accusing the UAE courts of a miscarriage of justice. - Guardian