Monday newspaper round-up: Carney, Polish workers, PPI, Tesco

Mark Carney is set to warn Brussels that the European financial system faces a shock unless policymakers give institutions more time to adapt to trading arrangements after Brexit. In his capacity as vice-chairman of the European Systemic Risk Board (ESRB), Mr Carney is expected to stress to the European Commission and the heads of top EU financial services bodies next month that a transition agreement is in the interest of the EU as much as it is for the UK. - Telegraph

The Bank of England is pushing ahead with plans for transitional arrangements after Brexit negotiations in an attempt to protect financial institutions from a cliff edge deal that could undermine their stability. Governor Mark Carney has met senior figures in the City to stress the need for a smooth path out of the European Union that maintains its stature and strong links with the continent. - Guardian

Theresa May will launch a charm offensive in a bid to win Polish support in the forthcoming Brexit negotiations, as pressure grew to guarantee the status of migrant workers. Mrs May will host Polish prime minister Beata Szydło and other senior Polish politicians at a meeting in Downing Street on Monday that will focus on Brexit and defence co-operation, and seek to ease diplomatic tensions caused during the referendum. - Financial Times

François Fillon won the French centre-right presidential nomination on Sunday, in a landslide vote that brings him closer to the presidency next year. The former prime minister’s victory reveals a clear shift to the right among Republican party sympathisers, who seek a return to the right-wing tenets of law and order, and a break from past economic policies with a resolutely free market economic programme. - Financial Times

The financial ombudsman has been forced to look again at the case of a man who complained that he had been mis-sold payment protection insurance, in what could open the floodgates to thousands more claims. William Edmunds had an initial complaint about PPI on his MBNA credit card rejected by the ombudsman, but legal action by a claims company acting for Mr Edmunds has forced the ombudsman to reconsider his case, which could lead to many more cases being reopened. - The Times

The government may be preparing to increase the official state pension age to 70 for millions of people currently in their 20s, a former minister has claimed. Steve Webb said documents produced by the Department for Work and Pensions suggested a “more aggressive” timetable on state pension age (SPA) increases than previously planned was being prepared. - Guardian

Investigators are looking into whether Tesco Bank ignored a warning about a security flaw in its payment system that allowed fraudsters to steal millions of pounds from the accounts of thousands of its customers. Officials at the Financial Conduct Authority and the National Crime Agency believe that Tesco might have failed to act on an industry-wide warning from Visa a year ago. - The Times

Regulators have said that they expect to announce a final decision on the future of BT and Openreach within weeks. Ofcom has approached the European Commission to discuss how it could force BT to legally separate from its broadband infrastructure unit. - The Times

Rolls-Royce faces fresh embarrassment after it admitted parts of its financial forecasts were wrong and it had to send out a correction. The blunders came in the engineering group’s disastrous capital markets day two weeks ago which sent the shares plunging, and has seen Rolls draw criticism from City analysts. - Telegraph

Britain's biggest bookmaker Ladbrokes Coral is planning an audacious multi-billion pound bid for Australia’s largest betting company, Tabcorp. The British betting giant is understood to have appointed advisers within the last few weeks to work on the proposal. - Mail

Small energy companies could face a struggle to make it through the winter after GB Energy Supply became the first domestic supplier go out of business in a decade. Household bills could rise, after what one energy boss said was “the first of many” casualties likely to hit the sector, reducing competition. - Telegraph

Companies are to be forced to publish the difference in pay between their chief executives and average workers, Theresa May will announce this week. The prime minister will unveil a green paper on corporate reforms tomorrow which will also consider giving workers a direct say in the salaries of their bosses.

Black Friday appears to have been the shopping bonanza that wasn’t, with online sales growth falling significantly short of what experts had predicted. Purchasing online was up by a mere 6.7 per cent against the same day the previous year, compared with forecasts of a 25 per cent leap and an even more explosive rise of 31 per cent in 2015, according to figures from PCA Predict, which tracks online transactions for retailers. - The Times

Train operators face having to redesign thousands of ticket machines as ministers move to stop commuters being ripped off by hugely complex pricing systems. Rail companies are likely to be ordered to highlight the lowest price for any journey. - The Times

The result of a strike ballot among Southern train drivers is due to be announced, raising the threat of travel chaos in the run up to Christmas. Members of the drivers’ union Aslef have been voting on whether to launch a campaign of industrial action in a dispute over driver-only trains. The union’s executive will meet to discuss the outcome of the ballot, to be announced later on Monday, before deciding the next move. - Guardian

The UK has seen a surge in demand for skilled technology visas in recent months in a boost to the British tech industry's demands for special treatment on immigration after the Brexit vote. Tech City UK, the government organisation that processes applications for the special visas, said applications had spiked since the referendum, and that it had received more than 200 applications since April. - Telegraph

Almost two dozen of the world’s biggest football clubs including Arsenal, Chelsea, Bayern Munich, Barcelona and Juventus have joined forces to launch a new social media network that aims to replicate the success of Facebook for football fans. Dugout.com, which has also signed partnerships with more than 150 players including Gareth Bale, Alexis Sanchez, Edinson Cavani, Joe Hart and Neymar, launches globally on Monday in eight languages. - Guardian