LONDON (ShareCast) - (ShareCast News) - Support among business for Britain staying in the EU has declined since David Cameron announced an in/out referendum three months ago, but still remains significant. Despite warnings about the economic costs of Brexit from the Treasury, the International Monetary Fund and the Organisation for Economic Cooperation and Development, the lead for the remain side has narrowed from 30 points to 17. - The Guardian
Global banks have turned more cautious towards the UK as a potentially economically disruptive vote on EU membership looms in June, according to a rating agency. Credit Benchmark, an agency that aggregates the internal lending risk assessments of big international banks and uses them to devise ratings, said that lenders had turned slightly more cautious towards the UK earlier this year. - Financial Times

Steady inflation numbers out of Beijing helped quell concerns about the health of China's economy, enabling many regional stock markets to trim early declines, while a weaker yen again buoyed Japan's export-focused equities. Japan's broad Topix index and the Nikkei 225 were both 2.1 per cent higher, as the yen weakened 0.4 per cent to ¥108.71 per US dollar. Australia's S&P/ASX 200 edged up one-quarter of a percentage point. - Financial Times

Hopes of a meaningful deal to boost oil prices were evaporating last night, after Saudi Arabia's appointment of a new oil minister consolidated the grip of a powerful reformist prince who has said that he does not care about the price of crude. Oil ministers from Opec are scheduled to descend on Vienna on June 2 for a policy meeting, the first since December, when a gathering broke up, sending the price to a 12-year low of $27 a barrel. - The Times

China's passenger vehicle retail sales grew 6.4 per cent year-on-year in April according to data from the China Passenger Car Association. Retail sales of sedans, multi-purpose vehicles, sport utility vehicles and minivans in China totaled 1.7m in April, down from March sales of 1.9m but up by 6.4 per cent-year on-year. - Financial Times

Channel 4 will escape full privatisation following an intervention from Downing Street. A series of other major reforms of the state-owned broadcaster remain under consideration, however, senior Government sources revealed. They include the potential sale of a minority stake to a strategic partner such as BT and the introduction of National Audit Office (NAO) scrutiny of Channel 4's accounts. - Daily Telegraph

Seven firms are weighing up bids for Tata Steel's entire UK business, the company has revealed, raising hopes of a rescue deal that could save up to 12,000 jobs. Indian conglomerate Tata has been seeking a buyer since it said in March that a turnaround plan for its Port Talbot steelworks was "unaffordable". - The Guardian

Takeaway firm Pizza Hut is planning to serve up at least 3,000 new jobs as it embarks on a £40m expansion in the UK and Ireland over the next four years. Pizza Hut Delivery, a 419-store business owned by American fast-food giant Yum! Brands, wants to open a further 200 sites by 2020, the majority of which will be run by franchisees. - Daily Telegraph

London estate agency Foxtons is set to become the latest casualty of shareholder revolts after advisers recommended that investors vote against its chief executive's pay package. Nic Budden, who has headed up the company since July 2014, received a 19pc pay rise for 2015, despite the company reporting a fall in pre-tax profits in recent results, and suffering a steep drop in its share price. - Daily Telegraph

Eurozone finance ministers have failed to paper over growing cracks concerning a third Greek bailout amid fears that a fresh crisis in the currency bloc could tip Britain into voting to leave the European Union. Ministers have given themselves until May 24 to decide whether Greece can meet the terms of the new package to unlock its next €5 billion aid payment. - The Times

The International Monetary Fund has urged Germany to do more to help find work for the hundreds of thousands of refugees in the country, saying such moves would help counter the effects of an ageing population. The country should also make the most of low borrowing costs to bolster spending on infrastructure, the IMF said in its annual assessment of Europe's largest economy, known as an article IV report. - The Guardian

HMV has reclaimed is position as the second biggest entertainment retailer in the UK as high street chains enjoy a revival against their online competitors. HMV, which is owned by investment firm Hilco, recorded a 2% year-on-year rise in sales of music, DVDs and games over the last quarter, giving it a market share of 16.9%, ahead of Tesco's 16.1%. - The Guardian

A former top City banker has been found guilty of insider trading, marking the end of Britain's largest inquiry into illegal dealing in the City after a nine-year investigation costing more than £10 million. Martyn Dodgson, 44, a former managing director at Deutsche Bank and Lehman Brothers, was convicted yesterday along with Andrew Hind, 56, an accountant and property developer, of using insider information on big UK takeover bids to make large trading profits. - The Times

A Russian broker working at a big global financial services company has been arrested as part of an investigation into alleged money laundering by a criminal gang after staff at Intercontinental Exchange, owner of the New York Stock Exchange, became suspicious of trades placed through his account. The unnamed 43-year-old man was arrested last month by officers from City of London police, who seized $22 million held in five trading accounts in an investigation that has drawn in a Russian oil company, a Swiss investment company and a British Virgin Islands-based firm believed to have been used as fronts by the gang. - The Times

Failings in culture were at the heart of every misconduct scandal and bank failure in recent history, a deputy governor of the Bank of England has claimed. Andrew Bailey, the chief designate of the Financial Conduct Authority, told bankers yesterday that correct behaviour was "of the utmost importance to financial regulators", in spite of the eye-catching decision by the Financial Conduct Authority in December to ditch a review into correct culture.

Key UK overseas territories led by the British Virgin Islands are still resisting David Cameron's calls to make fresh concessions on ending tax secrecy at the prime minister's anti-corruption conference in London on Thursday. The overseas territories have said they will not sign up to public central registers of beneficial ownership, one of the key demands of the charities and anti-corruption campaign groups eager to expose the money launderers hiding their gains in the BVI and elsewhere. - The Guardian

Sarah Wood, who founded tech firm Unruly, has been named Veuve Clicquot businesswoman of the year. Unruly, which works in 15 countries with more than 200 staff, helps video adverts go viral. Wood champions diversity in the workplace - half her employeesare female - and has set up mentoring programmes to help women become more confident in business. - The Guardian

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