Monday newspaper round-up: Brexit, Mastercard, London rents, pensions

The bosses of about half of Britain’s 100 biggest companies are to sign a letter backing David Cameron in his fight to keep the country in the EU in the referendum in June that will shape the future of the UK. As Tory opposition to the prime minister’s strategy mounted, Downing Street rallied the backing of corporate leaders at companies including Shell, BAE Systems, BT and Rio Tinto, who will argue in the letter that Britain is “stronger, safer and better off” in a reformed EU. – Financial Times

MasterCard will bring facial recognition payment services dubbed “selfie pay” to the UK as part of a range of new services designed to improve identity verification for mobile phone payments. British users will be able to scan fingerprints or snap selfies to validate their identities, in a system designed to let them complete an online purchase without the need for pin codes, passwords or confirmation codes. – Financial Times

Even London’s law firms are feeling the cost of high rents, with many of the biggest downsizing their offices last year. Rents for the capital’s 100 largest law firms rose 7pc last year to an average of £43 per square foot, according to data from real estate advisor CBRE. Many firms have reduced space and reorganised their offices in order to offset this rise, the research found, resulting in 63 relocations last year – 19pc higher than in 2014. – Telegraph

Most of the actions of central bankers – immensely powerful individuals who steer whole economies – pass largely unnoticed in everyday life. Late last year, however, the customers of one small Swiss bank were among the first to confront the problems these monetary policymakers are now facing. Alternative Bank Schweiz (ABS) was the first lender in the world to pass on the costs of “negative interest rates” to its customers. As central banks run out of traditional tools to tackle tepid growth and low inflation, negative rates have been the latest weapon of central banks. – Telegraph

A former adviser to George Osborne has said the chancellor is likely to mount a £4bn raid on pension savings by scrapping tax-free allowances on lump sums in a bid to save more cash for the Treasury. Steve Webb, himself a former pensions minister, says hundreds of thousands of people would suffer from Osborne’s “tax bombshell” that some fear could come as soon as the budget next month. – Guardian

The old guard of traditional transport and manufacturing brands are at the top of the Superbrand 2016 survey, seeing off competition from younger and “sexier” technology companies. British Airways outperformed 1,600 rivals to take the top spot for the third year in a row while watchmaker Rolex holds second place ahead of Lego and electronic goods specialist Dyson. – Guardian

One of London’s biggest hedge funds has begun betting on further falls in the share price of Standard Chartered, even after the company’s stock hit a 30-year low. It comes amid concerns about the future of the Asia-focused bank, which is set to announce its first loss in more than a decade. Marshall Wace disclosed a short position in Standard Chartered this month equivalent to about 0.6 per cent of the bank’s shares, marking the beginning of a potential attack. – The Times

Rolls-Royce is set to enter an ever-closer relationship with the world’s largest trainmaker. The deal with CRRC will be welcomed by Rolls investors, whose faith has been shaken during two years in which the company has made five profit warnings and £11 billion has been wiped off its value. – The Times