Friday newspaper round-up: Holcim-Lafarge merger, US refinery strike, BoE probe

Serious cracks have started to appear in the proposed €41bn merger of Holcim and Lafarge, according to the Financial Times. "Both companies’ boards are now discussing a potential renegotiation of the terms of the deal, amid concerns that the price on the table no longer commands the support of key Holcim shareholders," the paper said.

A tentative deal has been made between the United Steelworkers Union and Shell, the company representing refinery operators, to end the biggest US refinery strike in 35 years, writes The Wall Street Journal. Thousands of union workers have staged a walkout over salaries, safety and other issues over the last six weeks.

The Times has reported that the Bank of England kept a fraud probe at the Bank of England secret for three months despite the advice to go public by the Serious Fraud Office. The investigation was launched in December.

High street stalwart BHS has been sold by Arcadia for a token price of £1 to City investor Retail Acquisitions, writes The Guardian.

The US has expressed anger towards Britain for joining the China-led Asian Infrastructure Investment Bank, seen as a potential rival to US-based institutions such as the World Bank, The Telegraph says.

The UK should “not pretend to be a world power”, according to Angus Robertson, the SNP leader in Westminster, writes The Times. He said that curbing interventionism would be a key pillar of any post-election deal between Labour and the SNP.

Two piers in Blackpool and one in Wales have been put up for sale for a combined £12.6m as owner Cuerden Leisure restructures its assets, reports The Telegraph.