Tuesday newspaper round-up: Brexit, Trump, Drax, City broker
President Donald Trump has warned Britain “may not be able to trade with the US” because of Theresa May’s Brexit deal in comments that could torpedo her hopes of winning Parliament’s backing. Mr Trump said the agreement Mrs May reached with Brussels on Sunday “sounds like a great deal for the EU” as he urged the Prime Minister to think again. - Telegraph
Telling MPs they had a duty to listen to their constituents, Theresa May told the House of Common she was absolutely certain "there is not a better deal available”. In a blow to the prime minister’s hopes of attracting enough Labour MPs to get her deal through the Commons, one of the most prominent possible opposition rebels said he had decided to vote against Mrs May. - The Times
Almost half of Theresa May’s cabinet have held talks to weigh up the possibility of backing a soft Brexit option as a plan B if parliament rejects the prime minister’s EU withdrawal deal. Four cabinet ministers have held meetings to discuss the “Norway plus” plan amid concerns at the top of government that May will struggle to muster enough votes to get her proposals through the Commons. - Guardian
Theresa May last night agreed to go head-to-head with Jeremy Corbyn in a Brexit TV debate. Downing Street reversed its initial reluctance to expose the prime minister to a high-profile showdown with the Labour leader amid fears that refusing to take part could be seen as weak. - The Times
America’s largest car manufacturer will cease production at seven factories and cut more than 14,000 jobs in a restructuring that has deeply angered President Trump. Mr Trump said he was “not happy” and had told Marry Barra, General Motors’ chief executive, that she should stop making cars in China and open a new plant in Ohio to replace the ones where the company is planning to end production. - The Times
Liberum Capital could become the latest City broker to lose its independence as an Australian investment bank eyes a takeover that could value the company at £100 million. Macquarie has explored buying Liberum as more regulation and a slowdown in dealmaking have put pressure on brokers to merge to help to compete in a tough market. - The Times
Despite the encouragement of politicians and regulators keen to promote competition, small energy providers have started dropping like flies. Six household suppliers have gone bust this year. The largest two, Extra Energy and Spark Energy, with almost 400,000 household customers between them, collapsed last week. - The Times
Air pollution from roads causes at least €70bn (£62bn) in health damage every year in the European Union, according to a new report, with diesel fumes responsible for three-quarters of the harm. The research, commissioned by the European Public Health Alliance (EPHA), found the vast majority of the costs were borne by taxpayers through government-funded health services. But these costs could be reduced by 80% by 2030 if ambitious action were taken, the report concluded. - Guardian
Britain’s first carbon capture project has kicked off at the Drax renewable energy plant in North Yorkshire, with the aim of retrieving one tonne of CO2 a day from the gases produced by the country's biggest power station. The pilot programme, which is also a first for Europe, is costing Drax £400,000. It will run for six months in collaboration with University of Leeds spin-out C-Capture, which has developed the technology to isolate carbon gases. - Telegraph
An investment fund based in Switzerland is looking to rescue the UK’s only operating metals mine from liquidation, but talks have hit a snag over the cost of restoring the land after its working life has finished. Pala Investments, owned by billionaire Vladimir Iorich, is understood to be willing to pump £25m into the Drakelands tungsten mine in Devon after its owner Wolf Minerals went into liquidation last month. - Telegraph
Supreme court judges appeared open to allowing customers to sue Apple for allegedly exploiting its market dominance to inflate the price of iPhone apps, dealing a blow that could wipe out a considerable revenue stream for the technology giant if it goes ahead. Lawyers denied that it overcharges consumers through its App Store during an hour-long hearing at the Supreme Court, California on Monday. - Telegraph
Passengers on the new HS2 line could have Amazon parcels delivered to their seat under plans by a train manufacturer bidding for the contract. Bombardier Transportation, which is competing against four other companies to build the high-speed trains, said that it was developing technology to host click-and-collect services on board. - The Times
A feud between two Russian oligarchs was fought out in the High Court yesterday, with claim and counterclaim of corruption, dirty tricks and the “armed takeover” of a business. More than 40 lawyers lined up in the commercial court in London for the contest between Oleg Deripaska, the aluminium tycoon facing sanctions in the US, and Vladimir Chernukhin, once a minister for President Putin. - The Times
A $2.2 billion deal involving two leading mobile payment services could mean higher costs for customers, the competition watchdog has warned. Paypal, America’s largest digital payments company, said in May that it was acquiring iZettle, a Swedish start-up that provides mini credit card readers that turn smartphones and tablets into mobile payment registers. - The Times