Thursday newspaper round-up: Brexit, Yahoo, Sky

London’s lead in financial services technology risks being blunted by bureaucratic new migration rules, according to business leaders cited by the latest House of Lords report on leaving the European Union. Peers conclude that the fast-growing sector is one of a number of world-beating industries at risk if London loses its status as an international melting pot for talent, partly because Europeans may not be able to come to work in the UK so freely. - Guardian

Yahoo said on Wednesday it had discovered another major cyber attack, saying data from more than 1bn user accounts was compromised in August 2013, making it the largest such breach in history. The number of affected accounts was double the number implicated in a 2014 breach that the internet company disclosed in September and blamed on hackers working on behalf of a government. - Guardian

It is vital to fight for the City in the Brexit negotiations, and the Government should not be ashamed to stand up for Britain’s banking expertise, a committee of Lords has announced. Senior financiers have told The Daily Telegraph that ministers have warned that they cannot be seen to prioritise the City over other sectors, as bankers are perceived as unpopular figures. – Telegraph

Nearly a quarter of workers at the accountancy giant KPMG attended a private secondary school, the firm has revealed, as it tries to broaden access to the profession. The company said 23pc of its 13,500 workers came from private school, compared to the national average of about 7pc, and a further 14pc came from a selective state school. – Telegraph

21st Century Fox is expected today to make a formal offer to buy Sky in an £18.5 billion takeover. The American company, which is the majority shareholder in Sky with a 39 per cent stake, will offer to buy the remaining shares for £10.75 each, less future dividends, after an informal agreement was reached between the companies last Friday. – The Times

Britain’s unemployment rate remained at an 11-year low in the three months to October but employment fell as economists warned that resilience in the economy since the Brexit vote had begun to fade. The number of people out of work fell by 16,000 to 1.62 million, the Office for National Statistics said. However, employment fell by 6,000 to 31.76 million compared to the previous three-month period— the first drop in a year — knocking the employment rate down from its record high of 74.5 per cent to 74.4 per cent. – The Times