Tuesday newspaper round-up: Brexit, Sports Direct, Unilever, Google

Theresa May is preparing to limit Britain’s ability to strike free-trade deals after Brexit in a significant concession to the European Union aimed at breaking the deadlock in negotiations. The prime minister is ready to propose a “grand bargain”, according to her colleagues, which would keep Britain tied to European customs rules on goods after the transition period ends in December 2020. - The Times

A curb on low-skilled workers from the European Union will be at the centre of Britain’s post-Brexit immigration policy, Theresa May has announced. The Prime Minister confirmed that free movement will end completely, with a single immigration system that treats EU countries the same as non-EU countries.- Telegraph

EU diplomats have rejected Theresa May’s conference pitch that Brussels must move first to break the deadlock over negotiations as Jean-Claude Juncker said British people were only “finding out now” about the scale of the problems caused by Brexit. The European commission president told an audience in Germany that he regretted that the voters had not been properly informed ahead of the Brexit referendum in 2016. He claimed that UK ministers were only now discovering the costs. - Guardian

The former directors and senior management of House of Fraser have been sacked by Sports Direct amid calls for an investigation into the collapse of the department store group. The dismissals were announced in a statement that was released to investors after the London stock market closed. - Telegraph

J Sainsbury is planning to take on Boots, Superdrug and Debenhams by launching a revamped beauty range that will be sold “department store-style”, with dedicated beauty assistants. Sainsbury’s said that its new range would double in size, with up to 3,000 items, including more than 1,500 new products from brands such as Revlon, Mane ‘n Tail and Burt’s Bees. - The Times

Standard Chartered is facing a fine of about $1.5 billion, higher than expected, for again violating American sanctions against Iran, according to a report. Shares in the emerging markets bank fell by more than 3 per cent after Bloomberg reported the possible size of the penalty, citing a preliminary assessment based on communications between the bank and regulators.

The US, Canada and Mexico have reached a deal to revamp the North American Free Trade Agreement (Nafta), ending months of bitter dispute between the world’s largest economy and its closest neighbours. Donald Trump declared the United States-Mexico-Canada Agreement (USMCA) – the new name for the world’s second-biggest economic bloc behind the European Union – a “wonderful new trade deal”, which came through an 11th-hour agreement late on Sunday. - Guardian

Schroders has come out against Unilever’s plans to relocate to the Netherlands, delivering a further setback for the consumer goods group. Jessica Ground, global head of stewardship at Schroders, a top 30 shareholder with a stake of about 0.8 per cent, said that it “understood the company’s desire for simplification, but we do not believe this is the right decision for Unilever plc shareholders”. - The Times

A French state school where children are taught in English is being held up as a symbol of Parisian determination to lure financial workers from London after Brexit. The Lucie-Aubrac international school, which opened last month near La Défense, the business district, is preparing for an influx of pupils as executives cross the Channel after Britain leaves the European Union. - The Times

Would-be passengers have been warned not to turn up for Primera Air flights after the discount airline ceased operations ahead of filing for bankruptcy. Stansted said on Monday that travellers due to fly with the airline should not travel to the airport, from which Primera operated flights to Spain and the US. - Guardian

Google is allowing fraudsters to advertise at the top of search results despite its pledge to tackle the practice, an investigation has found. The search giant has been condemned as irresponsible after selling adverts under search terms such as “buy fake ID”, “buy fake passport” and “buy fake reviews”. - The Times