Tuesday newspaper round-up: Branson, broadband boost, IBM, Diageo

Alan Milburn, the former Labour health minister and government social mobility tsar, is at the helm of a new group funded in part by Sir Richard Branson to fight Britain’s exit from the European Union. The aim is to bring together disparate pro-European groups behind an explicit campaign to reverse the referendum decision to leave, probably only after the government has revealed the content of its exit terms and the UK economy has reacted.

Brussels is proposing to tighten its grip over overseas banks operating in the EU in a tit-for-tat step against the US that will raise costs for big foreign lenders and potentially hurt the City of London after Brexit. The European Commission will unveil provisions on Wednesday that mirror controversial US “intermediate holding company” rules that ringfence foreign bank capital. - Financial Times

Job security is at a record high with more Britons feeling confident that their employment is here to stay, according to a study from Lloyds Bank. With unemployment at its lowest rate in 11 years and wages growing faster than prices, 82pc of people felt confident in their job security in October, the highest number in the study’s five year history. - Telegraph

The chancellor will deploy more than £1bn to boost broadband speeds for up two million homes and businesses as part of an infrastructure plan to be outlined in the autumn statement. Responding to calls from business for the government to back the digital economy, Philip Hammond will back a £400m digital infrastructure fund, which the Treasury expects will be matched by private sector investors. - Guardian

IBM has committed to a multi-million pound project to build four new data centres in the UK, the latest in a series of UK investments by major US technology groups. Coming as a boost to the Government ahead of the Autumn Statement, the move will treble IBM’s capacity for “cloud computing” in the UK. - Telegraph

Exports of branded British food and non-alcoholic drinks shot up by nearly 14 per cent in the third quarter after the steep plunge in the pound since the vote to quit the European Union. The Food and Drink Federation said that its latest export figures represented the biggest quarterly export sales it had recorded and built on the second quarter, “which was in turn the largest [increase] up to that point”. - The Times

Christmas deliveries in the UK could be hampered by a shortage in lorry drivers as the pool of workers shrank to its lowest level since records began in 2005, according to recruiters. A lack of truck drivers has long been an issue for UK businesses as the popularity of the profession has decreased among British workers. - Financial Times

The Baltic Dry Index, which is seen by many as a leading indicator of the state of the world economy, has surged to its highest level in almost two years. The index measures shipping costs for commodities including iron ore, copper and steel. It is comprised of three-sub indexes that measure different sizes of merchant ships, and is based on a daily survey of agents all over the world. - Telegraph

Train companies will only have to provide slow free Wi-Fi for customers despite a government pledge to introduce “fast, cheap internet connections” across the rail network. Before the general election, the government announced that all train operators bidding on future franchises and direct contracts in England and Wales would have to include free Wi-Fi as part of their pitches. - Guardian

Drinks giant Diageo faces its workers going on strike just four weeks before Christmas after staff voted in favour of industrial action over proposed cuts to their pensions. Members of the GMB Scotland union, which include those working at bottling plants at Leven and Shieldhall and distilleries across the country, backed the walkouts by 63pc and other forms of industrial action by 69.7pc. - Telegraph

Hema, the Dutch retail chain referred to as a "posh Poundland" , has said it will not raise prices and press ahead with its UK roll-out, despite concerns in certain quarters about the health of the British high street. The Dutch chain opened its seventh shop in Britain on Monday in London's Euston train station and is plotting to open between 15 and 20 stores over the next two years. - Telegraph

Flybe is to end its franchise with Loganair for providing services across Scotland after failing to agree terms on a new contract. The airlines had been talking about extending the contract, under which Loganair aircraft flew routes bearing the Flybe logo, but the partnership will end next August. Flybe said that the decision would not have a material impact on profits. - The Times

The new boss of Debenhams must wait at least six months before he is granted any performance share plan awards. The retailer’s remuneration committee has decided that Sergio Bucher, the former Amazon fashion executive who joined last month, must wait until after first-half results next year before any awards are given. - The Times