Monday newspaper round-up: Brexit talks, house prices, convenience stores

Britain has “no time to waste” in Brexit talks, Theresa May will warn as she says formal negotiations about leaving the European Union will start just 11 days after the election. The Prime Minister will tell supporters in Wales - which voted overwhelmingly to leave the European Union at the referendum – not to risk letting Jeremy Corbyn lead these talks. - Telegraph

Asking prices for UK homes hit a new record high over the past month as families in search of bigger properties brushed aside uncertainty caused by Brexit and June’s general election. Prices sought by sellers rose 1.2% in the four weeks to 13 May, pushing the average asking price to a fresh peak of £317,281, according to the property website Rightmove. - Guardian

Theresa May’s plans to overhaul social care could be wrecked by poorly performing local authorities, amid further signs that Labour is closing the gap with the Conservatives. Research suggested that people in some parts of the country were struggling to exercise their legal right to defer residential care payments until after their death, with some authorities making it difficult or impossible to strike a deal. - The Times

Investors could face an extra €100 billion bill if Brussels forces the clearing of euro-denominated trades away from London because of Brexit, the chief executive of the London Stock Exchange has warned. The move would cause fragmentation of the €1 trillion market which forms the plumbing behind the global financial system, making it more difficult for clearing houses to offset risk, thereby increasing costs passed on to users including pensioners and savers. - The Times

The boss of the country’s biggest convenience store chain, McColls, has said that he is eyeing a possible takeover of Tesco’s One Stop chain. Industry experts believe that Tesco will have to either offload its One Stop brand or hundreds of Tesco Express shops in order to secure clearance from the UK’s competition regulator for its merger with the wholesaler Booker. - Telegraph

A healthcare analyst at Jefferies has been named the City’s best stock-picker as brokers continue to scale back their research operations. James Vane-Tempest came out on top in this year’s StarMine analyst awards. JP Morgan Cazenove was ranked the best broker. - The Times

The owner of British Airways has hit out at Heathrow Airport over its plans to nearly double the number of UK destinations it will offer after expansion. Heathrow has written to the Government asking it to ringfence a proportion of the slots it expects to become available – if a third runway is built – for flights to and from UK destinations. - Mail

The majority of Apple Pay tills in the UK can now accept mobile payments above £30, bringing the tech giant's vision of replacing the wallet a step closer. Jennifer Bailey, the head of Apple’s payments business, said over half of contactless payment terminals in the UK are now able to take Apple Pay transactions of any value. Most card readers had previously been restricted to £30, the default upper limit for contactless card transactions. - Telegraph

Only a decade ago logistics companies which owned large warehouses — or “sheds” as insiders call them — were considered the least glamorous part of the property world. At the same time, shopping centres were booming. Now shifting shopping patterns are causing a reversal of fortunes and few companies better represent that change than Segro and Intu. - The Times

A team of salvage experts hoping to recover billions of pounds worth of gold from deep-sea shipwrecks are looking for investors to back their treasure hunt. Britannia’s Gold has launched a £5m equity fundraising for their exploration of ships sunk in the First and Second World Wars. - Mail