Tuesday newspaper round-up: Renewable energy, retail parks, RSM
Sajid Javid has pledged to use his first budget to kickstart a decade of renewal for the economy after announcing 11 March as the date for the delayed set-piece event. The chancellor said his package would focus on unleashing Britain’s potential after the country’s departure from the EU at the end of this month. – Guardian
Energy produced by the UK’s renewable sector outpaced fossil fuel plants on a record 137 days in 2019 to help the country’s energy system record its greenest year. The report by the Carbon Brief website found that renewable energy – from wind, solar, hydro and biomass projects – grew by 9% last year and was the UK’s largest electricity source in March, August, September and December. – Guardian
A128,000 sq ft retail park is set to be converted into warehouses for online sellers in a landmark deal that underlines the changes sweeping the industry. Prologis, the world's largest warehouse company, has bought Ravenside retail park for £51.4m from the investment manager M&G. The site in Edmonton, north London had been owned by an M&G property fund which has blocked withdrawals by investors after a stampede for the exits due to the crisis gripping the high street. – Telegraph
Paris has warned that a trade war could break out between France and the United States if President Trump goes ahead with his threat to impose tariffs of up to 100 per cent on imports to America of emblematic French products such as champagne, cheese and handbags. “We would retaliate,” Bruno Le Maire, the French economy minister, said as he urged Washington to “come to its senses”. – The Times
An accountancy firm that was appointed to audit Mike Ashley’s retail empire misstated its accounts by almost £10 million over two years in an error that has led to the removal of its management. RSM, an auditor aiming to challenge the dominance of the Big Four, said that there had been an error in the calculation of the provision for professional liability claims, which represents the estimated cost of legal action or regulatory penalties against the firm. – The Times