Tuesday newspaper round-up: Second referendum, steel makers, carbon emissions
Jeremy Corbyn has pledged to support a second referendum on any Brexit deal after the Labour leadership came under overwhelming pressure to halt the exodus of its remain voters who backed pro-EU parties at the European elections. The Labour leader said he was “listening very carefully” to both sides of the debate after the party fell behind the Liberal Democrats and also lost ground to the Greens. – Guardian
Michael Gove will pledge free British citizenship for 3 million EU nationals after Brexit if he becomes prime minister, as well as abolishing the burden of providing proof of settled status, the Guardian understands. The environment secretary, one of the leading figures in Vote Leave, is understood to believe strongly that the pledge would honour the promises given to EU citizens by that campaign during the 2016 referendum. – Guardian
Top economists have warned the banking industry to expect further pain over the next two years as the City fears things have “gone from a joke to a nightmare”. The EY Item Club, which uses the Treasury’s model of the economy, said growth in mortgage lending, consumer credit and business loans is all forecast to grow by less than 2pc this year. It called this “the best-case scenario” as the outlook will be even worse if the UK leaves the EU without a deal. – Telegraph
Steel makers are calling on the Government to deliver on promises of “remorseless” support for the sector by cutting power prices for the energy-intensive industry. The demands come as 25,000 jobs hang in the balance with British Steel last week being placed in compulsory liquidation and put in the hands of the Official Receiver. – Telegraph
Nasdaq has scrapped its £615 million bid to buy Norway’s main stock exchange, opening the way for a European rival after a five-month takeover tussle. The American exchanges operator said yesterday that it was abandoning its attempt to buy Oslo Bors after failing to win enough approval from shareholders in the Norwegian securities market. – The Times
Britain could have the world’s first “carbon-negative” power station by the mid-2020s under plans by a trio of energy companies to capture carbon emissions in the Humber region. National Grid, Drax and Equinor said that they planned to work together on developing the country’s first carbon capture, usage and storage hub, following the recommendations of climate change chiefs. – The Times