Monday newspaper round-up: Spending, Credit Suisse, Dr Martens, Arriva

More than half of UK consumers have cut back on discretional spending since the start of the year, with nearly two-thirds choosing to reduce the amount they spend on eating out, according to research from KPMG. As households grapple with a swath of bill increases and tax hikes coming into effect from the start of this month, the survey of 3,000 consumers also found that 49% plan to spend less on non-essentials now that energy bill support payments have come to an end, while 30% will use their savings to cope. – Guardian

Switzerland’s federal prosecutor has launched an investigation into whether last month’s state-backed takeover of the stricken bank Credit Suisse by its bigger rival UBS broke Swiss criminal law. The office of the attorney general said it was looking into potential breaches by government officials, regulators and executives at the two banks who thrashed out an emergency merger over a frantic weekend in mid-March to prevent a wider financial meltdown. – Guardian

Britain must rethink its net zero ban on new petrol and diesel cars after Brussels watered down restrictions across Europe, the chairman of JCB has said. Lord Bamford insisted that “the internal combustion engine certainly has a future”, in comments that will add to pressure for Rishi Sunak to drop a 2030 crackdown on non-electric vehicles. – Telegraph

Dr Martens will start using recycled leather in some of the boots made in its factory in Northampton. The FTSE 250 shoe manufacturer is one of a group of investors set to inject $18 million into Gen Phoenix, a producer of sustainable leather. Other backers include Jaguar Land Rover and Tapestry, the home of luxury brands such as Coach and Kate Spade. – The Times

Arriva is set to become the latest passenger transport company to change hands. The company runs CrossCountry and Chiltern train services for the Department for Transport; the London Overground for Transport for London; its own Grand Central train operator between London and the north of England; and bus services in London and around the country. – The Times