Thursday newspaper round-up: Huawei, HS2, NSF, John Lewis
By Michele Maatouk
Date: Thursday 16 May 2019
(Sharecast News) - Huawei has criticised as "unreasonable" Donald Trump's declaration of a national emergency to ban technology from "foreign adversaries" that is deemed to pose a risk to national security. In a statement reported by the state-run Global Times, Huawei said: "If the US restricts Huawei, it will not make the US safer, nor will it make the US stronger. It will only force the US to use inferior and expensive alternative equipment, lagging behind other countries ... and ultimately harming US companies and consumers." - Guardian
The cost of HS2 should be slashed by limiting the speed of trains and making its London terminus Old Oak Common rather than Euston, according to a critical House of Lords report, which warns that better northern rail connections could be lost if the project blows its budget. In a report that could stoke further doubts over high-speed rail after Conservative leadership candidates discussed axing the project, the Lords economic affairs committee said it was "far from convinced" that the £55.7bn price was credible, and the government should publish a new cost-benefit analysis. - Guardian
Some of the world's largest technology companies have pledged to boost the number of women on their management boards to 30pc by 2022. At a "Tech for good" summit in Paris on Wednesday, a total of 45 technology companies, including Chinese e-commerce giant Alibaba, IBM, Booking.com and Uber signed a pledge to meet the target in a bid to open up their boards to more women. - Telegraph
Non-Standard Finance will push ahead with its £1.3bn hostile bid for larger rival Provident Financial after declaring the deal unconditional. The company had until 5pm on May 15 to reveal whether or not the unsolicited approach had received a valid number of acceptances for it to proceed. - Telegraph
The Conservative government is "not on the side" of small business owners, according to a study that accuses it of stifling entrepreneurship. Small companies are being undermined by a tax and administration regime that is seen as "far too complicated, costly and bureaucratic", making it "harder than it should be" to run and grow a business, a report by the Centre for Policy Studies, a centre-right think tank, said. - The Times
John Lewis has axed the last remnants of its gold-plated pension plan in an attempt to fill a hole of nearly £200 million in the scheme. The retailer is severing the link between final salaries and retirement benefits for its 83,900 staff as it battles a steep downturn on the high street. - The Times
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