Friday newspaper round-up: Brexit, Hinkley Point, Sports Direct, BHS

27th May 2016 06:59

(ShareCast News) - G7 leaders warned on Friday that a British vote to leave the EU next month would seriously threaten the world economy, as they promised "more forceful" policies to boost global growth but papered over differences about fiscal stimulus. "There are potential shocks of a non-economic origin," the leaders said in a declaration issued during their summit in Ise-Shima, central Japan. "A UK exit from the EU would reverse the trend towards greater global trade and investment, and the jobs they create, and is a further serious risk to growth." - Financial TimesThe workers' committee at EDF on Thursday dealt a new blow to the controversial £18bn project to build a new nuclear power plant in Somerset, saying it is likely to vote against the plan. The French utility has been on the verge of giving the final approval to the Hinkley Point project for the past few months, but has delayed doing so on several occasions after a string of last-minute objections. - Financial TimesSports Direct owner Mike Ashley has threatened to pull out of an appearance before MPs next month after they declined to visit the retailer's main warehouse. Mr Ashley said he is seeking legal advice over his scheduled appearance at a parliamentary select committee after his offer to show the politicians working conditions at the Derbyshire site was turned down. - TelegraphThe controversial High Speed 2 rail link is five times more expensive than a similar line being built in France, according to a new report which has sparked fresh fears about the investment required for the project. HS2, which will run between London and the North, is forecast to cost £105m per kilometre, compared to the £20m per kilometre that is being spent on a line between Tours and Bordeaux, a group of academics, led by Leeds University's Professor Tony May, said. - TelegraphA Portuguese-backed consortium is closing in on a deal to rescue BHS and its 11,000 employees. The consortium, which is led by Greg Tufnell, the brother of former England cricketer Phil Tufnell, is understood to have already paid part of the sale proceeds to show its determination to complete a deal. - GuardianGovernment plans to overhaul the pension scheme behind Tata Steel have been supported by the trustees despite warnings that the move would set a dangerous precedent. Allan Johnston, chairman of the board of trustees of the British Steel pension scheme, welcomed the government's decision to consult on a shakeup of the scheme as it would be a better outcome for members than entering the Pension Protection Fund (PPF), where Tata Steel workers would suffer a 10% cut to their benefits. - GuardianThe blast furnaces of Port Talbot may not have much in common with a rampaging pit bull terrier, but experts in the pensions industry were making just that comparison yesterday after the government tabled proposals to help to save Tata Steel UK. Just as a handful of canine attacks led to the rushed and flawed Dangerous Dogs Act of 1991, so the agonies of 11,000 steel workers were pushing ministers towards legislation that could open a Pandora's box with far wider implications than for just the British Steel pension scheme. - The TimesThree Lancashire brothers are set to make up to £30 million between them when a toilet roll manufacturer floats on the stock market. Accrol Papers said yesterday that it planned to list on the AIM in a deal expected to value the business at about £100 million. The flotation is expected to take place on June 10 in defiance of City nervousness ahead of the European referendum just two weeks later. - The Times