Friday newspaper round-up: Brexit, rents, HSBC
Theresa May’s defeat in the courts on Article 50 leaves the prime minister facing serious uncertainty over her EU exit strategy, with the prospect of months of delays and a concerted move by MPs to push her towards a “soft Brexit”. As Westminster digested another remarkable twist in the Brexit story, the government immediately announced it would appeal to the Supreme Court. But if the prime minister loses for a second time the action will move swiftly to parliament. – Financial Times
Rents in Britain will rise steeply during the next five years as a government campaign against buy-to-let investing constrains supply, estate agencies have forecast. London tenants face a 25 per cent increase to their rents during the next five years, said Savills, the listed estate agency group. Renters elsewhere in the country will not fare much better, it said, with a predicted 19 per cent rise. – Financial Times
The long-awaited announcement about the future of the Navy’s new frigates could come as early as today, delivering a boost to prime contractor BAE Systems. Defence Secretary Michael Fallon is expected to confirm the eight Type 26 ships announced in last year’s defence review will be built. – Telegraph
Sir James Dyson, the billionaire inventor, has said it would not be a “catastrophe” if Britain cannot agree a deal to remain part of the European single market and has to pay tariffs on exported goods. Dyson, one of the most prominent business supporters of Brexit before the referendum, said that the British economy and its companies are doing “rather better than everybody thought” since the vote. – Guardian
The Chinese conglomerate Dalian Wanda Group has finalized a $1bn deal to buy Dick Clark Productions, the company announced on Thursday. Dalian Wanda, a real estate and entertainment corporation owned by a billionaire who has aggressively pursued US film companies in recent years, said it had acquired a 100% stake in Dick Clark production “marking Wanda’s entry into the television production industry”. - Guardian
A French prosecutor has called for HSBC and two senior executives from its Swiss private banking arm to face criminal trial for enabling customers to hide more than €2 billion from the tax authorities. The request from the financial prosecution service comes after an investigation into the affairs of clients of HSBC Private Bank Suisse that were passed to the authorities in 2008 by Hervé Falciani, a former employee. – The Times
The price of diesel has risen faster than at any time in almost a decade as a result of a slump in the pound after the Brexit vote, the RAC said. Almost £3 was added to the cost of filling the average car last month in a further sign that the vote to leave the EU may be harming family finances. – The Times