Friday newspaper round-up: No-deal Brexit preparations, Kier, Huawei
By Michele Maatouk
Date: Friday 14 Jun 2019
(Sharecast News) - Britain's businesses are being urged to step up their preparations for a no-deal Brexit amid signs that Theresa May's successor could be prepared to leave the EU without a deal at the end of October. The Institute of Directors - one of the UK's employers' groups - said its members had so far failed to take advantage of the seven-month delay to Brexit and warned that companies should not put faith in politicians to produce an agreement. - Guardian
An influential committee of MPs has criticised the government for its failure to curb "extravagant" boardroom pay packages. In a report in March, the business, energy and industrial strategy (BEIS) committee argued companies must do more to link leading executives' pay to that of the rest of their workforce. In her response, Kelly Tolhurst, the minister for small business, consumers and corporate responsibility, said: "Our immediate priority is to focus on the effective implementation and then assessment of these reforms before considering any significant further changes." - Guardian
Blocking investors from withdrawing money from investment funds can stop a fire-sale of assets, but also encourage investors to dash for the exit in an effort to get out before the door is shut, a top Bank of England official has warned. If enough funds run into trouble in an "economic earthquake" it raises the risk of funding for businesses drying up, warned Alex Brazier, the Bank's executive director for financial stability strategy and risk. - Telegraph
The US-China trade war, industrial strife and political deadlock all threaten to overwhelm the World Trade Organization, putting the future of the institution and the system of free trade in mortal danger, Liam Fox has warned. World leaders need to "seize the opportunity" to resolve the crisis, opening up trade rapidly to boost economic growth and spread prosperity, the International Trade Secretary said. - Telegraph
One of Britain's biggest contractors is preparing to sell its housebuilding unit amid increasing evidence of financial pressure on the group. Kier Group has sounded out advisers about the potential to sell the division, which is understood to be valued at between £100 million and £150 million. - The Times
The culture secretary has suggested that Britain could follow the US and block Huawei from involvement in the next generation of mobile phone networks. Jeremy Wright said that the government could not disregard warnings about the Chinese technology giant. The United States has been pressing its allies to ban it from 5G networks. - The Times
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