Wednesday newspaper round-up: Confidence, property, travel, Uber, Tesla

Theresa May will be put under pressure at her cabinet meeting today to start planning for a no-deal Brexit, with ministers around the table expecting a vote on her future to be called within hours. Cabinet members are set to push the prime minister to step up preparations for a hard Brexit as some claim that she has repeatedly stalled spending decisions to prepare for such an outcome. - The Times

Sajid Javid has touted his commitment to social mobility and Boris Johnson has compared his weight loss to the Brexit preparations as contenders to succeed Theresa May prepare their pitches for the top job. The home secretary and the former foreign secretary have used The Spectator to set out their views on Brexit and their party’s future, a decision which will doubtless be interpreted as preparation for a leadership contest. - The Times

Shops, shopping centres and retail parks suffered one of their sharpest monthly falls in value since the financial crisis in November, highlighting the pressure on the retail industry and dealing a blow to pension funds invested in the sector. CBRE, Britain’s largest valuer, said that retail property values had fallen by 1.9 per cent month-on-month, the biggest drop since May 2009, except for the period immediately after the Brexit referendum in 2016. - The Times

The so-called “dinner party” property investor is disappearing, with the number of landlords falling by 120,000 in less than three years after stamp duty reforms were introduced by George Osborne. Figures calculated by Hamptons International show that landlords have sold 45,250 more homes than they have bought so far this year and a total of 119,250 since April 2016, when the former chancellor introduced a 3 per cent stamp duty surcharge on buy-to-let purchases. - The Times

The Royal Borough of Kensington and Chelsea has approved plans for a half-billion pound luxury retirement complex that includes just five affordable homes at a time when 14 families who survived the Grenfell Tower fire are still living in hotels 18 months on. The Conservative controlled council granted consent for the scheme on a prime site in the south of the borough that includes 142 homes, some of which will be let for up to £10,000 a month. - Guardian

Plans to upgrade major parts of the London Underground will be put on hold after a decline in passenger numbers, government cuts and delays to the opening of Crossrail have left the capital’s transport authorities struggling to balance the books. Transport for London said its revenues would be £2.1bn lower for the next five years than forecast in 2016, compounded by the end of an average £700m annual government grant. - Guardian

Transport for London expects to miss out on as much as £600m in revenues on the back of its delayed Crossrail project, adding extra pressure to its already stretched finances.The public body, which runs the London Underground as well as the capital’s buses and some rail lines, is now expecting revenues over the next five years to be £2.1bn less than previously expected, largely thanks to a drop in passenger numbers. - Telegraph

Uber used a private meeting with the transport secretary to push for congestion charges that a senior civil servant warned would hit poorer drivers hardest, records have revealed. Chris Grayling was also lobbied by the Uber CEO, Dara Khosrowshahi, about opening up opportunities in Britain’s public transport network, according to the minutes of a meeting in October, revealed after a freedom of Information request. - Guardian

Elon Musk has said he plans to “retire” Tesla’s chairman title, weeks after he was forced to give it up. On Tuesday, the electric car maker’s chief executive tweeted: “‘Chairman’ is an honorific, not executive role, which means it’s not needed to run Tesla. Will retire that title in three years.” - Telegraph

Ministers are taking risks by handing so much government business to only a few large strategic suppliers and by failing to compile usable data to make better procurement decisions, according to a new report. All the three biggest suppliers to the government have experienced financial problems, with Carillion going bust and both Capita and Amey reporting heavy losses, the Institute for Government said. - The Times

The Trades Union Congress has called on the government to set a target to create 1m manufacturing and high-tech jobs by 2030 to bolster its industrial strategy. In a report on the government’s flagship industrial policy, which launched a year ago, the unions’ umbrella group said too little progress had been made and greater checks on its progress was needed. - Guardian

The watchdog that monitors the accounting industry and was condemned by MPs as being “useless and toothless” has been found to be in breach of rules on managing public money. In the latest embarrassment for the Financial Reporting Council, a review by the Government Internal Audit Agency has found shortcomings in the council’s compliance with government guidelines. - The Times

McDonald’s has announced plans to reduce the use of antibiotics in its global beef supply, fuelling predictions that other restaurants will follow suit. The move by the world’s biggest fast-food chain addresses concerns that the overuse of antibiotics vital to fighting human infections in farm animals may diminish the drugs’ effectiveness in people. - Guardian