Thursday newspaper round-up: UK trade, Israel, Lloyds...

7th Aug 2014 06:58

Britain's trade performance over the past two decades has been worse than any other country in the G7, with a shortfall of nearly £40 billion in goods exports in the past five years alone. In a new report that lays bare the gap between the UK and its competitors, Royal Bank of Scotland found that goods exports were only 4 per cent higher last year than they were in 2008. If the UK had kept pace with global exports, that figure would have been 16 per cent higher ? a difference of nearly £37 billion. - The TimesIsrael is ready to extend its ceasefire in the Gaza Strip beyond the current truce, which is scheduled to expire at 8am on Friday, an official has said. Israel had "expressed its readiness to extend the truce under its current terms", the official added, referring to the three-day cessation of hostilities agreed on Tuesday. - The IndependentA group of investors yesterday filed a claim for compensation from Lloyds Banking Group for losses they claim they incurred during the rescue of HBOS in 2008. The Lloyds Action Now activist group has spent years assembling the case, which argues that the true health of HBOS was deliberately concealed from investors when Lloyds was taking over the troubled bank. - The GuardianRupert Murdoch last night unequivocally ruled out renewing his summer blockbuster bid for Time Warner, a day after pulling the plug on the $80 billion offer. "We walked away. This is our resolute decision," Mr Murdoch, the chairman and chief executive of 21st Century Fox, told analysts after the company reported fourth-quarter results that were better than expected. - The TimesPanic selling is expected to sweep Britain as homeowners try to cash in on record high house prices before the market starts to cool, new data finds. Sentiment towards selling is rising as fears grow that property values could reverse after a period of frenzied house price growth, according to the latest Halifax Housing Market Confidence Tracker. - The TelegraphThe Bank of England has lost its second senior regulator in three days, accelerating the brain drain at the 320-year-old institution. The Bank announced the resignation of Julian Adams, executive director for insurance supervision, who will leave Threadneedle Street following 28 years as a City regulator. Adams will take on a new role as group regulatory director at UK insurance company Prudential in 2015. - The GuardianBC