Wednesday newspaper round-up: Chancellor's windfall, ECB, Carney, mobile wrangle

With the eurozone facing lacklustre growth, low inflation and political uncertainty, most economists expect the European Central Bank to keep buying billions of euros in bonds each month. But many also believe the ECB is not ready to take such a decision. Instead, the consensus view is that when the governing council meets on Thursday it will shrink from a firm commitment to prolong its landmark quantitative easing programme beyond March 2017. - Financial Times

Mark Carney will be accused today of being too quick to cut interest rates after the Brexit vote as he faces further questions about his impartiality. Jacob Rees-Mogg, a Conservative MP and Brexiteer who clashed repeatedly with the Bank of England governor during the referendum campaign, will lead the attack when Mr Carney appears before the Treasury select committee today. - The Times

The chief executive of mobile operator Three has accused EE and Vodafone of hoarding rights to scarce radio spectrum to stifle competition, in the latest phase of a campaign for regulators to intervene. Dave Dyson said his bigger rivals had deliberately acquired rights to airwaves they did not need in order to stop Three competing properly in the interests of consumers. - Telegraph

Government plans to extend pension freedoms to people who are already retired suffered a setback yesterday when leading pensions broker Hargeaves Lansdown said that it would not take part because of concerns that it would not be a good decision for many customers. The government wants to foster a secondary market in which people who have already bought an annuity giving them an income for life could sell it back for a lump sum. - The Times

China's listed banks have shed around 35,000 employees this year and cut average salaries as they seek to reduce costs amid stagnant revenue growth. Bank profits were essentially flat in the first half of the year as lenders struggled with shrinking net interest margins and rising bad loans. With top-line growth sluggish, lenders have turned to cost-cutting. - Financial Times

Ford has almost halved a planned investment in its UK engine plant at Bridgend, in a move that raised questions over its commitment to the Welsh factory. The US car giant said the decision had “nothing to do with Brexit” and was made to reflect shifting demands in the European car market. - Financial Times

Switzerland has charged a former employee of the country’s largest bank, UBS, with selling German authorities the files of wealthy clients suspected of tax evasion, according to officials and media. The man is accused of violating banking secrets, according to Switzerland’s public ministry, as well as involvement in espionage and money laundering. - Guardian

London has retained its crown as the leading global city of opportunity and will remain a top destination for years to come despite the UK’s decision to leave the EU, according to PwC. The Big Four accounting firm said the capital’s status as an economic powerhouse and magnet for innovation had helped it to “pull away” from global rivals this year. - Telegraph

Hanjin Group said on Tuesday it will spend $90m, including $36m from the personal assets of its chairman, Cho Yang-ho, to help resolve the disruption to cargo transport caused by Hanjin Shipping’s financial troubles. The move follows South Korean government demands that the parent company do more to help. Hanjin’s vessels remain stranded outside ports around the world after the company filed for bankruptcy protection last week. - Guardian

It has proved so popular that even Sir Paul McCartney added his voice to a growing chorus of praise and now Pret A Manger has confirmed that rather than pack up its vegetarian pop-up shop in London, it is going to become a permanent fixture instead. Indeed, more could be on the menu. The sandwich chain, which had already extended the original four-week experiment in Soho to the end of summer after sales beat expectations, said that it was planning to convert several others among its 315 UK shops, declaring: “Veggie Pret is here to stay.” - The Times

Britain’s biggest companies face an uphill battle to win back the trust of the public after a series of business scandals, despite recent efforts to clean up corporate governance, the Institute of Directors has said. Controversies ranging from zero-hours contracts to global tax bills have bruised the public’s faith in certain businesses, prompting new Prime Minister Theresa May to target reforms in the boardrooms. - Telegraph

Britain’s biggest grocer has the worst corporate governance of the country’s top 100 listed companies, according to the Institute of Directors. Tesco has found itself at the bottom of the institute’s index of best boardroom practice at a time when the reputation of big business is particularly low and as MPs and the prime minister have lambasted the directors of several high street brands, including Sports Direct and BHS. - The Times