Wednesday newspaper round-up: Boris Johnson, housebuilders, KPMG, Metro Bank
By Michele Maatouk
Date: Wednesday 22 May 2019
(Sharecast News) - Boris Johnson is launching a bid to court One Nation Conservative MPs in the group of centrist liberals run by Amber Rudd, as he tries to pitch himself as a candidate who can appeal beyond rightwing Brexit supporters. The former foreign secretary, who is favourite to be the next Conservative leader, is backed by Brexit hardliner Jacob Rees-Mogg but infuriated many Tory colleagues by backing Theresa May's deal after months of campaigning against it. - Guardian
Banks and one of Britain's biggest food suppliers are poised to pursue Jamie Oliver over debts after the chef's empire of restaurants collapsed. The Daily Telegraph understands Mr Oliver provided personal guarantees to lending giant HSBC and distributor Brakes after a previous restructuring, allowing them to claim against him personally for any unpaid bills. - Telegraph
Theresa May needs to relax her planned clampdown on migrant workers post-Brexit to avoid destroying the construction sector and any chance it has of hitting government house-building targets, a Tory Brexiteer-led group of MPs has concluded. The All-Party Parliamentary Group for SME housebuilders warned in a new report that the construction industry "cannot absorb the shock to the system" of a swift change to the measures ministers propose in place of EU free movement: "The shock of the Government's own immigration initiative could perversely be the reason why the Government subsequently does not hit its target for 300,000 new homes a year." - Telegraph
A leading accountancy firm could face a record £12.5 million fine for misconduct after signing off on accounts for the world's largest custodian bank, despite its failure to keep customers' money safe during the financial crisis. KPMG "defeated" the British regulatory system by giving BNY Mellon a clean bill of health, exposing its clients and the wider financial system to the possible insolvency of the bank, the industry watchdog has said. - The Times
Metro Bank has felt the wrath of its shareholders at its general meeting after a disastrous accounting error wiped about £1.5 billion from the company's value. Investors rebuked the two non-executive directors of the bank's audit and risk oversight committees. More than a quarter voted against the reappointments of Stuart Bernau, 67, who led the committee until March, and Gene Lockhart, 69. - The Times
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