Wednesday newspaper round-up: Barack Obama, Tesco, Google

13th May 2015 06:31

Barack Obama's plans for new free trade agreements with Asia and Europe have been dashed after the bill received just 45 votes in favour by Senate Democrats out of the 60 needed for it to pass, writes The Guardian.Tesco has called an end to its non-food only UK stores by closing the remaining six Homeplus shops, causing the loss of 450 jobs, The Telegraph said.Google faces legal action from the Information Commissioner's Office after rejecting demands from individuals who want their "right to be forgotten" online, according to The Times.Spain's Inditex, the owner of the Zara fashion chain, could be fined up to $25m in Brazil amid claims it failed to deal with employment abuses in its supply chain, according to The Guardian.Lower levels of liquidity have been blamed for the volatile swings in government bond markets over recent days, causing so-called "air pockets", reports The Telegraph.The Times said: "The threat of a legal challenge to the Co-operative Group over the way it has selected candidates to join its board receded last night after the East of England society accepted an assurance from the Co-op leadership that the election process would be reviewed for next year."According to The Telegraph, rail companies may be in line for compensation if Network Rail employee strikes over pay go ahead.Debt restructuring negotiations in Ukraine have reached "boiling point" after a statement from the government that questioned the transparency, responsiveness and good faith of a creditors' committee, the Financial Times said.Patriot Coal, which emerged from the brink of bankruptcy less than two years ago, has once again filed for Chapter 11 protection due to pricing pressures, increasing regulation and liabilities that survived its early bankruptcy, according to The Wall Street Journal.