Monday newspaper round-up: Clinton off hook, Tesco, Javid, London property

Bourses across Asia and assets sensitive to the outcome of the US election bounced on a perception in the market that Hillary Clinton’s chances of being elected president had firmed. The FBI said on Sunday it would take no action against Mrs Clinton following its investigation of new emails related to a probe into her use of a private server. - Financial Times

Investors and businesses are being warned to brace for potentially huge swings in share prices and currency rates in the early hours of Wednesday morning as one of the most seismic political decisions in decades reverberates around global markets. The big City investment banks are staffing up for a rollercoaster trading session with asset prices expect to gyrate wildly on the thinnest of exit poll evidence before moving more emphatically in one or other direction as the US election result becomes more certain. - The Times

Thousands of Tesco Bank accounts have been compromised and customers have seen hundreds of pounds wiped from their balances in a wave of fraudulent activity. The bank, which has more than 7 million customers, issued a text alert to account holders late on Saturday after it observed suspicious activity in multiple current accounts and moved to block some customer cards. - Guardian

The Government is prepared to use “carrots and sticks” to “disrupt” Britain’s house-building industry and break the “stranglehold” of the big developers, to encourage smaller developers and the faster building of more new homes. Calling for “far more competition” to change “a market that is not diversified enough”, Communities Secretary Sajid Javid has escalated his criticism of the UK’s large house-builders and developers, ahead of a Government white paper on housing supply expected next month. - Telegraph

Chinese investors have increased their focus on London’s property market, partly because of the fall in the pound and partly because there are signs of an end to China’s own property bubble. Sales of homes in the capital’s most exclusive areas to Chinese buyers have risen since the Brexit vote, while investment into commercial property from China is on track to grow this year, even as other investors draw back. - Financial Times

Manufacturers are scaling back investment plans as the sector struggles against a “double whammy” of weak demand and political uncertainty. The EEF, which represents the sector, said that rising levels of uncertainty about demand at home and abroad had led the sector to “shy away” from investment in plant and machinery over the next two years. - The Times

The price of a basket of 20 Unilever products, including Hellman’s mayonnaise, Carte D’Or ice cream and Comfort fabric conditioner has risen by an average of 5.7% across the UK’s major supermarkets since the Brexit vote, as the pound’s post-referendum struggles feed through to shop shelves. Analysis by the Guardian and price comparison site MySupermarket.com of 20 everyday items made by the Anglo-Dutch supplier indicates volatility in prices since the poll. - Guardian

Ministers and defence giant BAE are under pressure to ensure British steel is used to build the next generation of warships. The Ministry of Defence has struck a deal with BAE Systems to start work on eight anti-submarine vessels at its Glasgow shipyard by next summer, but they have refused to guarantee that the UK's struggling steel industry will be awarded the vital contracts. - Daily Mail

Britain taking the lead developing a new generation of mini-nuclear reactors could create 40,000 highly skilled jobs in the UK and generate hundreds of billions in export sales. The claim comes from Rolls-Royce, which is heading a consortium competing in the Government’s £250m competition to develop “small modular reactors” (SMRs). - Telegraph

The supermarket space race can be declared well and truly over as fresh figures reveal that plans to build new stores have ground to a halt. Two thirds of plans to build new large stores have been cancelled by the major grocers over the past two years, according to figures compiled exclusively by Barbour ABI reveal. - Telegraph

The number of trains on Britain’s network will grow faster than at any time since steam engines were phased out half a century ago. Figures show that deals for more than 5,700 carriages have been signed in recent years as part of an upgrade designed to cope with demand from passengers. - The Times

Smart technology that could shave £90 off household energy bills and curb carbon emissions is being stymied by government policy, a leading thinktank has said. In a wide-ranging report, Policy Exchange also claimed that current energy policy offered too many incentives to build polluting diesel generator farms at the expense of cleaner technology. - Guardian

Brussels is reconsidering how it grants EU market access to overseas financial firms, casting doubt over the use of the bloc’s “equivalence” arrangements as a fallback option for the City of London after Brexit. No decisions have yet been taken by the European Commission about the regime, which extends limited access rights to non-EU jurisdictions that have rules deemed equivalent, such as the US. - Financial Times

German prosecutors have widened their investigation of the Volkswagen emissions scandal to include the company’s new chairman. Yesterday VW said that Hans Dieter Pötsch was included in a criminal probe into whether executives manipulated the markets in the wake of last year’s diesel emissions tests scandal. - The Times