Thursday newspaper round-up: Lloyds, Tata Steel, BHS

Shares in Lloyds Banking Group have passed the level at which taxpayers break even on their stake in the bailed-out bank for the first time this year. The move through 73.6p will be closely watched by George Osborne. The chancellor was forced to postpone an offering of the bank’s shares to the public as a resut of the turmoil in the markets in the start of the year. Even though the retail offering is on hold, Osborne can offload shares in small tranches to professional investors every time the shares rise past 73.6p mark. In December, this so-called trading plan was extended to the end of June. - The Guardian

The sale of Tata Steel’s UK assets has been thrown into confusion after speculation that the business secretary has offered Tata a deal so attractive that it may yet keep Port Talbot and a dozen other facilities around the country. - The Times

A pair of BHS suppliers have toppled into administration, resulting in 350 job losses, as the pain caused from the collapse of the retailer spreads through the sector. CUK Clothing and Courtaulds, makers of the Pretty Polly tights brand, have appointed RSM after the “administration of BHS added to the challenge of operating within a fiercely competitive market for seasonal products”. - The Daily Telegraph

Budget flights to Boston and other United States cities will be launched from Edinburgh next spring, Norwegian Air has announced. Other destinations could include New York, San Francisco and Washington DC, with return fares starting from around £200. The news came as Delta prepares to launch Edinburgh-New York flights tomorrow in competition with American and United. Norwegian already flies to six Scandinavian and Spanish destinations from Edinburgh, and launched transatlantic flights from Gatwick two years ago. - Scotsman

Boris Johnson is painting an unreal picture of the EU for the British public and should return to Brussels to see whether his claims chime with “reality”, the president of the European Commission has claimed. Jean Claude Juncker also hinted that if Britain’s highest profile campaigner were to become prime minister then his discussions with European partners may be strained. The president was responding to a question at a press conference at the G7 summit in Japan about Johnson’s decision to compare the EU’s aims to those of the Adolf Hitler. - The Guardian

The watchdog for global trade has said leaving the European Union would push back trade barriers at a cost of £9bn a year to British consumers. World Trade Organisation boss, Roberto Azevedo, said Britain would be forced to renegotiate trade deals with all 161 WTO members in an unprecedented move that would be akin to joining from scratch. The impact of new tariffs in overseas markets would also be a burden for UK businesses, adding a further £5.5bn to the costs of trade, he said. - The Guardian