Thursday newspaper round-up: Tory leadership race, Woodford fund, CYBG, Bathstore, Adidas, Tesco

Sajid Javid insisted last night that he was staying in the race to become Tory leader to win it as his rivals claimed that he was holding out to be Boris Johnson’s chancellor. The home secretary survived the third round of MPs’ voting to make it through to the final ballots today, which will decide which two will face an election by party members. - The Times

Hargreaves Lansdown earned more than £40m in client fees on the now-suspended Woodford Equity Income Fund since its launch in 2014, with more than £20m generated in the last two years despite the fund’s increasingly poor performance. Responding to a letter from Treasury select committee chair Nicky Morgan, Hargreaves Lansdown said platform fees on client investments in Neil Woodford’s flagship fund had totalled £41.1m to the end of April. - Telegraph

The incoming prime minister will be forced to abandon any spending plans if the UK accelerates towards a no-deal Brexit, Philip Hammond is to say in a warning apparently directed at Boris Johnson. The chancellor, who is likely to be removed from the cabinet under a Johnson premiership, will tell business leaders in his Mansion House speech on Thursday that any leadership candidate must have a plan B if renegotiations with the EU fail, or their “job will be on the line”. - Guardian

Rory Stewart accused Boris Johnson of 'dark arts' as he crashed out of the Tory leadership battle last night, but has become the kingmaker for the final round as Hunt, Gove and Javid hope his supporters turn to them as they try to stop Mr Johnson becoming Prime Minister. The Cabinet minister was dramatically axed from the contest after coming last with just 27 votes - down from 37 yesterday - leaving four hopefuls left to fight it out. - Daily Mail

Tory leadership candidates are considering boycotting the BBC’s next televised debate after it failed to effectively vet an imam who had previously made allegedly antisemitic comments. Abdullah Patel, who asked a question about Islamophobia on Tuesday night, was suspended from schools where he was head and deputy head because of tweets about a Zionist conspiracy and violence against women. He was also suspended from his post at a mosque. - The Times

The boss of Clydesdale and Yorkshire Banking Group has warned that banks need to be ready for an onslaught of tech firms moving into the sector as it prepares to rebrand to Virgin Money. Chief executive David Duffy said he is preparing for tech firms to transform the sector after Facebook unveiled plans for a global cryptocurrency that it hopes will provide an alternative to cash, credit cards and bank transfers. - Telegraph

Bathstore, the UK’s biggest bathroom specialist, is the latest retailer facing a financial crunch, putting hundreds more high street jobs at risk. Advisory firm BDO has been lined up to handle a potential administration after the loss-making business failed to find a buyer. It is understood that the group’s owner is unwilling to put in more cash to save the business ahead of this month’s rent day. - Guardian

Average house prices across the country rose by 1.4 per cent in the year to April, down from a 1.6 per cent increase a month earlier, new official data shows. In April, the average cost of a home stood at £229,000, which is £3,000 higher than at the same point a year ago, figures published jointly by HM Land Registry and the Office for National Statistics reveal. - Daily Mail

The US Federal Reserve held its base rate steady last night, but laid the groundwork for a cut later in the year as its chairman promised to stand his ground against a barrage of attacks from the White House. Projections released by the central bank showed that nearly half of its officials expected a rate cut in 2019. One of the ten members of the rate-setting committee disagreed with last night’s decision and called for a 25-basis-point cut, the first show of dissent under Jerome Powell, the Fed chairman. - The Times

Four men with links to the Russian military have been charged with murdering nearly 300 people on board flight MH17, shot down over Ukraine in 2014. Dutch investigators issued international arrest warrants for Russians Igor "Strelkov" Girkin, Oleg Pulatov, and Sergic Dubinsky, and Ukrainian Leonid Kharchenko. - Telegraph

Adidas has been unsuccessful in an attempt to expand its trademark three-stripe design in the EU after a court ruled it was not “distinctive” enough. The company did not “prove that that mark has acquired, throughout the territory of the EU, distinctive character following the use which had been made of it”, the general court of the EU said on Wednesday. - Guardian

The Financial Conduct Authority has refused to reimburse a fraud victim despite a watchdog describing the regulator as 'a facilitator' to her losing £13,000 in an investment scam. The woman from London, who did not wish to be named, invested money in what she thought was a legitimate Austrian company in May 2018. - Daily Mail

Hundreds of Tesco staff made redundant last month were underpaid or overpaid, prompting the supermarket to ask some to return money. The company outlined changes to its workforce in January, including the closure of fresh food counters in about 90 of its stores, putting up to 9,000 jobs at risk. Redundancy payments were made at the end of May, but an administrative error meant that hundreds received the wrong amount. - The Times

Parkinson’s disease could be spotted in the brain more than a decade before symptoms emerge, scientists have discovered, raising hopes that early treatment could prevent the condition ever taking hold. Researchers from King’s College London studied the brains of people living in the northern Peloponnese of Greece who suffer from a rare genetic mutation that makes Parkinson’s almost inevitable. - Telegraph

The UK’s age-verification system for online pornography is expected to be delayed indefinitely, just weeks before it is due to be launched. The policy, which will require all adult internet users wanting to watch legal pornography to prove they are over 18 by providing some form of identification, was due to come into force on 15 July. - Guardian

The pilot asked to fly footballer Emiliano Sala who then drafted in a friend at the 11th hour has been arrested on suspicion of manslaughter, it has been revealed. David Henderson, 64, from York, was feared dead with the Cardiff City footballer after his Piper Malibu PA-46 plane disappeared off the Channel Islands on January 21 this year after hitting a winter storm. - Daily Mail