Friday newspaper round-up: Lib Dems, HSBC, Trump, Tory leadership, JD Sports, Netflix

HSBC is looking to cut up to 500 investment banking jobs just weeks after its senior executives vowed to keep a close eye on costs in the face of growing uncertainty about the global economy. One source said "several hundred" bankers will be made redundant this year as part of a wider restructuring programme dubbed Project Oak. - Telegraph

In a surprise announcement that could compromise a major trade deal, Donald Trump announced on Thursday that he is slapping a 5% tariff on all Mexican imports to pressure the country to do more to crack down on the surge of Central American migrants trying to cross the border. He said the percentage would gradually increase “until the Illegal Immigration problem is remedied”. - Guardian

Draconian new rules designed to make the internet safer for children could deliver a 'killer blow' to British technology start-ups, a lobby group warns today. The controversial code, drawn up by the Information Commissioner's Office, applies too broadly and will be a 'serious obstacle to growth', the group said. - Daily Mail

Donald Trump will confront Theresa May over the security risk posed to Britain by the Chinese company Huawei during his visit next week, a senior aide to the president has said. John Bolton, the American national security adviser, said that the US was prepared to accept only “zero” risk in its federal telecoms network from Huawei and suggested that Washington was trying to convince its intelligence partners to follow suit. - The Times

The head of the CBI has called on the Conservative Party leadership contenders to “champion business” and avoid a no-deal Brexit. “The next prime minister can only claim the Conservatives are the party of business if they secure a Brexit deal that protects the economy, jobs and living standards,” Carolyn Fairbairn, head of the business lobby group, wrote in a letter to the candidates vying to succeed Theresa May as prime minister. - Telegraph

The JD Sports Fashion executive chairman has been awarded a £6m cash bonus not linked to any future performance targets. Peter Cowgill’s special bonus, to be paid in instalments of £1.5m a year for four years starting from October, each of which will be subject to income tax and national insurance, must be approved at JD’s annual shareholder meeting on 3 July. - Guardian

Netflix is hiking prices for customers in Britain by up to £24-a-year, it emerged today. Television fans will soon have to fork out extra to binge watch programs on the biggest streaming service, after Netflix unveiled a price rise for UK subscribers of up to 20 percent a year. - Daily Mail

The world’s largest taxi-hailing company has posted a loss of $1.01 billion in its maiden results after a lacklustre flotation earlier this month. Uber’s net loss for the first quarter was in line with market expectations and came on revenue of $3.1 billion, which was at the top end of preliminary estimates. - The Times

A train firm has announced a split ticketing app to help passengers save money on trips, but the industry body has said that it fails to address the real issue. Virgin Trains is launching a mobile app which helps passengers take advantage of split ticketing to save money on journeys, claiming it could save passengers £1 billion. - Telegraph

The former immigration minister and chief whip Mark Harper has become the 12th Conservative MP to declare his candidacy for the party’s leadership. Harper was behind the controversial “go-home” vans when working under Theresa May at the Home Office. He resigned as immigration minister in 2014 after it emerged he was employing a cleaner who did not have permission to work in the UK. He later served as David Cameron’s chief whip. - Guardian

Thousands of households face huge annual energy bill increases of up to £362 - equivalent to 41 per cent - from this week, data shows, if they fail to act. The rise is due to 61 fixed energy deals across 13 suppliers coming to a close at the end of May, according to research by comparison website uSwitch. - Daily Mail

Households are feeling more optimistic about the outlook for the economy and their personal finances even though Brexit uncertainty continues to weigh on confidence, according to a survey. GFK’s consumer confidence index rose from -13 to -10 in May, marking the first change since February. Although consumers are feeling more hopeful, the index remained in negative territory where it has been stuck since the beginning of 2016. - The Times

The Health Secretary has backed parenting classes to tackle Britain’s obesity epidemic ahead of the launch of a national review. Matt Hancock said he believed in “targeted support” for families, highlighting a scheme in Leeds which has been the first English city to see a fall in the number developing weight problems. - Telegraph

Georgia is home to some of the world’s biggest businesses but those corporations are so far avoiding becoming involved in a growing debate over the state’s recent passing of a controversial abortion bill. Entertainment giants Disney and Netflix this week said that they are considering ending production in the state if it implements a bill that bans abortion after around six weeks of pregnancy – a point when many women won’t know they are pregnant. - Guardian

UK airspace could see its busiest day ever as football fans jet off to the Champions League final in Spain. Some 9,000 flights are predicted to take place on Friday, beating the all-time daily record of 8,854 set on May 25 2018. There will also be a surge in chartered flights and private jets departing the UK for Madrid as Liverpool and Tottenham fans travel to the Champions League final. - Daily Mail