Monday newspaper round-up: Brexit funds, Intu, Rolls-Royce, food
The embattled shopping centre group behind Manchester’s Trafford Centre and Lakeside in Essex is the landlord most exposed to the collapse of HMV, with 15 of its sites occupied by the music retailer that called in administrators on Friday. Intu Properties, which was on the receiving end of two failed approaches this year and has suffered multiple tenant failures across its portfolio, has more sites rented out to HMV than any other retail property group, analysis by The Times has found.
Philip Hammond has been accused by Cabinet colleagues of failing to provide the money needed to prepare Britain for a no-deal Brexit. James Brokenshire, the Housing Secretary, has written to the Treasury warning that a no-deal Brexit could put pressure on councils as they face a potential "influx" of elderly expats and the risk of civil unrest on the streets. - Telegraph
The home secretary, Sajid Javid, and his French counterpart have pledged to step up joint efforts to tackle cross-Channel people smuggling, as Labour accused the Tories of whipping up concern about the issue. Six Iranian men were found on a beach near Deal in Kent on Sunday with a small boat, the Home Office confirmed, bringing the number who have made the perilous crossing since Christmas Day to almost 100. - Guardian
Thousands of late-night takeaways face having to pay a levy to fund extra policing of antisocial behaviour fuelled by extended licensing hours. Kebab shops and burger joints will be liable for the charge, which could also be used to provide street cleaning and marshals who help at taxi queues. - The Times
The world’s most radical trade pact has come into force across the Pacific as the US sulks on the sidelines, marking a stunning erosion in American strategic leadership. Eleven countries are pressing ahead with the Comprehensive Agreement for Trans-Pacific Partnership (CPTPP), defying barely-disguised efforts by the Trump Administration to kill the treaty. - Telegraph
Rolls-Royce has secured the contract to power the US military’s next-generation squadron of unmanned fighter drones. In a key deal for the beleaguered British aerospace and defence group, Rolls’ engines have been selected by Boeing for the MQ-25 Stingray, an unmanned aircraft that the US Navy hopes will put it at the forefront of a new world of remotely controlled aerial combat vehicles. - The Times
The high-profile floats of luxury car maker Aston Martin and the UK’s biggest online loan provider Funding Circle failed to boost the London Stock Exchange this year as the value of listings on the bourse fell by a third. Figures seen by The Daily Telegraph show that the number of businesses which went public in London dropped from 108 to 79 over the last 12 months, while the amount of money raised from stock market floats plunged £5.5bn on last year to £9.6bn. - Telegraph
European banking shares have suffered their worst year since the eurozone debt crisis, ending 2018 deep in a bear market amid fears that the struggling sector could become a brake on the economy next year. An index tracking Europe’s banks has plunged 35pc since January to hit its lowest level since the aftermath of the Brexit vote with embattled German giants Deutsche Bank and Commerzbank more than halving in value. - Telegraph
Australian shares have had their worst year since 2011 amid fresh evidence of a tightening credit squeeze at home and growing concern about a weakening global economy. The benchmark ASX200 index finished lower on the last day of the year after a late dive on the share market, confirming 2018 as the worst 12 months for the bourse since 2011. - Guardian
More than £100bn has been wiped off the value of the world's five biggest tobacco companies this year as worries grow about increased regulation and the rise of vaping. London-listed giant British American Tobacco (BAT) has been worst hit and lost about half its stock market value. Rival Imperial Brands is down about a quarter. - Telegraph
The cancer risk from processed meat such as bacon is still not being taken seriously enough, according to a statement by doctors and politicians. The group, which includes Tom Watson, the deputy Labour leader, called for greater awareness of the “growing consensus” that nitrites in the meat produce carcinogens linked to bowel cancer. - The Times
A food waste tsar has been appointed for the first time in an attempt to tackle the problem of discarded produce. Ben Elliot, a businessman, will work towards the government’s goal of eliminating all food waste going to landfill by 2030. Over ten million tonnes of surplus food is wasted every year. - The Times
PWC has used a drone to complete an audit for the first time. The Big Four accounting firm said that it had used a drone in its audit of RWE, the German energy company, to measure stock including coal reserves at a power plant in Aberthaw, south Wales. Richard French, PWC’s audit partner for RWE, said that the drone was a faster and safer way to collect large amounts of data that enabled it to check that stock reserves listed in its client’s accounts were accurate. - The Times
Carlos Ghosn will remain in detention for another 10 days after a Japanese court approved a prosecutors’ request to continue questioning the former Nissan chairman over allegations of financial misconduct and breach of trust. Ghosn, who has been held at a Tokyo detention centre for more than six weeks, is accused of underreporting his salary by tens of millions of dollars and of transferring personal investment losses to the automaker he rescued from the brink of bankruptcy two decades ago. - Guardian
Amazon is in talks to release its original films in Imax cinemas as early as next year, The Daily Telegraph understands, in the latest sign of improving relations between streaming services and cinema operators. The tech giant is currently in talks with a number of cinema operators and distributors for the theatrical releases of upcoming films it has financed and developed, including The Aeronauts starring Eddie Redmayne and Felicity Jones which is slated for next November.