Friday newspaper round-up: BoE, BHS, Heathrow

The governor of the Bank of England sent bond yields to fresh record lows and the pound sliding after he signalled more quantitative easing and indicated interest rates would be cut to cushion the economy from the impact of Brexit. The prospect of lower interest rates, already at historical lows, and a return of the Bank of England’s bond-buying programme to stimulate the economy sparked a sell-off of sterling but lifted shares. In London yesterday the pound dropped 1.5% against the dollar to $1.324, a cent above the 31-year low that it hit in the immediate aftermath of the referendum. - The Times

The administrators of BHS have agreed to sell its international and online operations to a Qatari buyer in the first disposal of the failed retailer’s assets. Al Mana, a group based in Doha that operates some of BHS’s overseas stores under a franchise deal, has bought more than 70 shops and the website. - The Times

The Government has come under fierce attack from leading business figures after it delayed a decision on airport expansion amid the Brexit turmoil, dealing a blow to Heathrow’s chances of building its long sought-after £17.6bn third runway. Adam Marshall, the acting director general of the British Chambers of Commerce, accused ministers of “a cop out” after Patrick McLoughlin, the transport secretary, said it would be “at least October” before an announcement is made about where to build more runway capacity in the south east. - The Daily Telegraph

Europe's banking sector is braced for chaos, with Italian giants desperate for a bailout and Germany’s biggest lender deemed a threat to the world economy. In Italy, politicians begged the European Union for permission to bail out troubled lenders sitting on more than £300bn of bad loans. Meanwhile, Portugal – long feared to be a future flashpoint in the eurozone crisis – has been urged to double down on austerity measures in the uncertain times ahead. - The Daily Mail

A split has emerged at the top of the Labour party in Scotland after deputy leader Alex Rowley pledged his support for Jeremy Corbyn as UK leader. It came just days after Scottish leader Kezia Dugdale joined the chorus of calls for the left-winger to go, insisting she could not lead the party in Scotland without the support of her MSPs. - The Scotsman

Rupert Murdoch's UK newspaper group has mounted a major challenge to BBC radio with a £220m takeover of Wireless Group, the owner of the Premier League football broadcaster talkSport. The company, which also owns Virgin Radio and a string of local radio stations around the UK and Ireland, recommended an offer from News UK of 315p per share, a 70pc premium on yesterday’s closing price. - The Daily Telegraph