Wednesday newspaper round-up: Brexit, Ford, Facebook, Interserve, whisky
Business leaders have demanded the prime minister answer 20 crucial questions before the 29 March deadline to prevent a chaotic no-deal Brexit. The British Chamber of Commerce (BCC), the UK business trade body, said that without greater clarity over import and export duties, border controls and customs procedures, Theresa May risked thousands of companies suffering a potentially catastrophic shock when the UK quits the European Union. - Guardian
Theresa May’s chief Brexit negotiator has contradicted the prime minister’s position on Brexit. Olly Robbins was overheard by an ITV News journalist in a Brussels hotel bar suggesting that MPs would be confronted next month with a “significant” delay to Brexit if they did not vote for the prime minister’s deal. This suggests that Mr Robbins believes that backbench moves led by Yvette Cooper and Nick Boles to stop a no-deal will succeed. - The Times
Ford has become the latest carmaker to sound the alarm over Brexit, saying that it is stepping up preparations to move production out of Britain. The business, which has 13,000 staff in the UK, told the prime minister on a private call with business leaders that it was preparing alternative sites abroad. - The Times
The Government has called on competition watchdogs to examine the stranglehold of Google and Facebook over the £14bn digital advertising market amid concern that “opaque” practices deny publishers a fair share. Jeremy Wright, the Culture Secretary, has written to the Competition and Markets Authority, urging it to study the sector for evidence of abuse of dominance by the Silicon Valley giants. - Telegraph
The founder of Utilitywise is in talks to bail out the troubled energy broker just months after offloading his remaining stake in the business. Tyneside businessman Geoffrey Thompson has put forward an eleventh hour deal which could save the company, feared to be only weeks away from collapse. - Telegraph
Interserve bosses face an uphill struggle to win approval for its proposed £480m rescue deal after a second major shareholder came out against it. Dutch hedge fund Farringdon Capital Management, which holds a 6.2pc stake in the ailing Government contractor, has written to its board telling them it will oppose the planned debt-for-equity swap. - Telegraph
Campaigners have welcomed the government’s decision to reject a planning appeal by shale gas firm Cuadrilla to frack at a second site in Lancashire, capping a week of bad news for the industry. James Brokenshire, the communities secretary, said he was turning down the appeal for planning permission to develop four fracking wells in the Fylde area because of traffic concerns. - Guardian
The billionaire boss of Ineos has launched an outspoken attack on “stupid” European energy policies that he said were deterring investment in the industry. Sir Jim Ratcliffe made the claims in a characteristically blunt letter to Jean-Claude Juncker, president of the European Commission, only weeks after the privately owned chemicals group said that it had selected a site in Belgium for its biggest investment. - The Times
Saudi Arabia intends to begin exploring for and producing oil and gas overseas, the kingdom’s energy minister has said. Khalid al-Falih, 59, who is also chairman of Saudi Aramco, the state-owned oil group, said that the company intended to build an international energy exploration and production business for the first time. - The Times
Americans’ appreciation of Scotch whisky has helped to boost the value of exports by 7.8 per cent to a record £4.7 billion. A report by HM Revenues & Customs said that the United States had become the first market to consume more than £1 billion of the spirit and total sales were up by nearly 4 per cent. - The Times
The Financial Conduct Authority has refiled its most recent set of annual accounts after a bricklayer complained that they were illegible. The City regulator was invited to provide a clearer version of its accounts to March 31 last year by Companies House after the corporate registrar received a complaint from Clive May, a builder from Mold in Flintshire. - The Times
Raiding Italy’s gold reserves to plug gaps in the populist coalition’s spending plans would have a “devastating” impact on the country’s credibility, critics said. They spoke out in response to reports that the government is considering using part of the gold to tackle its budget deficit and avoid a VAT increase that will otherwise kick in next year. - Telegraph
The department store Liberty London has been put on the market with a potential £350m price tag. The retail landmark, which was founded by Arthur Lasenby Liberty in 1875 with a £2,000 loan from his future father-in-law, has grown to become an international brand that sells its tana lawn fabrics and luxury leather goods around the world. - Guardian
One of Britain’s most valuable financial technology start-ups has denied that it is a pawn of the Russian state. Nikolay Storonsky, 34, the Russian-born chief executive of Revolut, the London-based digital bank, hit back at claims by a Lithuanian MP that it had been used by Moscow to tamper in the country’s affairs. - The Times
Under Armour, the sportswear brand that sponsors the boxer Anthony Joshua, posted better than expected quarterly profits yesterday as it cut the cost of sourcing products and sold fewer discounted trainers in the run-up to Christmas. Inventory levels, which fell 12 per cent during the quarter, and rising demand for the company’s popular Project Rock, Curry 6 and HOVR trainers allowed Under Armour to cut back on discounts. - The Times
An English judge has blocked US government demands to obtain private documents related to Hewlett Packard’s $5bn (£3.8bn) lawsuit against Autonomy founder Mike Lynch. Mr Justice Hildyard has rejected a request from Hewlett Packard Enterprise (HPE) to let the American tech company hand over witness statements and other documents to the FBI. - Telegraph