Friday newspaper round-up: BoE, Brexit, Trade War

23rd Sep 2016 07:36

(ShareCast News) - Mark Carney has urged the government to take decisive action to lift the UK's moribund economy as he said that the central bank could do little to improve Britain's long-term prospects. Politicians need to make the running now by taking bold decisions on public spending and economic reforms, the governor of the Bank of England signalled last night in Berlin in a speech on climate change. - The TimesTheresa May alone will decide the terms of Britain's departure from the EU, Downing Street has said after Boris Johnson began setting out a strategy for Brexit. Speaking in the United States, the Foreign Secretary on Thursday said that the UK will begin formal Brexit talks "early next year" and leave the EU by 2019. - The Daily TelegraphThe prospect of a trade war between the United States and the European Union grew closer last night after the World Trade Organisation confirmed that $22bn of state support for Airbus, including some from the UK, was illegal. The ruling means that under WTO rules the US government can seek damages in the form of retaliatory tariffs against EU imports of goods or services to the tune of $10 billion a year. - The TimesSports Direct has announced the shock resignation of chief executive Dave Forsey and his immediate replacement by the retail chain's founder and deputy chairman Mike Ashley. The management change comes after months of mounting pressure on the company, which has been criticised by investors, MPs and unions for the workplace practices at its Shirebrook warehouse in Derbyshire and its poor corporate governance. - The Daily TelegraphThree former Tesco executives have appeared in court for the first time to deny charges in relation to the £326million accounting scandal at the supermarket. Carl Rogberg, 49, Chris Bush, 50, and John Scouler, 48, are charged with fraud by abuse of position and false accounting. The supermarket's former finance chief, managing director and food commercial head were investigated for their alleged role in an accounting scandal in which Tesco was found to have inflated its profits by £326million in 2014. - The Daily MailHackers stole the personal data associated with at least 500m Yahoo accounts, the Sunnyvale, California-based company confirmed today. Details including names, passwords, email addresses, phone numbers and security questions were taken from the company's network in late 2014 by what was believed to be a state-sponsored hacking group. - The Guardian