Monday newspaper round-up: Brexit, Dyson, BHS, sugar tax, Barclays

The UK economy could lose more than half a million jobs by 2020 in the event of a vote to leave the EU and would be unlikely to recover from the impact fully even after 15 years, the head of the CBI is set to warn. Carolyn Fairbairn, director-general of the business lobby, will present research by PwC, the professional services firm, suggesting the shock of a British exit could cut economic output between 3 and 5.4 per cent in 2020, depending on what sort of deal Britain managed to negotiate with its trading partners. – Financial Times

Barack Obama arrived in Cuba on Sunday afternoon for a historic visit after taking the three-hour flight that has eluded his predecessors for the past 88 years. Stepping off Air Force One in Havana alongside his wife Michelle and daughters Sasha and Malia, Mr Obama began a three-day trip that the president hopes will help loosen the grip of the Cuban regime on the country’s economy and on its politics. – Financial Times

Dyson will invest £1bn in developing new battery technology by 2020 as the business best known for its vacuum cleaners branches out into new areas. Revealing strong annual sales and profit growth, chief executive Max Conze hinted at the company’s ambitious plans. – Telegraph

Rolls-Royce is to add up to 350 jobs at its Derby base as the engineering giant gears up production of its TrentXWB engine. Warren East, chief executive, will also this week meet with Midlands MPs whose constituencies Rolls has plants in to ease concerns that the company is looking to shift work abroad. – Telegraph

BHS believes it has secured the backing of major landlords for a vital vote this week that will determine the future of the 88-year-old department store chain. The retailer needs 75% of creditors to vote in favour of a company voluntary arrangement (CVA) at a meeting on Wednesday or it will collapse into administration. - Guardian

Soft drink makers are considering taking legal action against the government over its controversial sugar tax as George Osborne’s budget shows further signs of unwinding. Suing the government is one option that companies are considering as they await more details on the tax, which will come into force in 2018 and cost £1bn to implement, almost double the amount that it is expected to raise. – Guardian

Barclays has come under attack from a long-term shareholder for deciding to sell its African business and rebuild its investment bank. Django Davidson, a partner at Hosking Partners, a London-based fund manager, writes in The Times today that his firm is “somewhat confused and decidedly frustrated” by strategic initiatives being pushed through by Jes Staley, the bank’s chief executive. – The Times