Friday newspaper round-up: Brexit uncertainty, Woodford, Supercuts, Barclays
Brexit uncertainty has begun driving up job losses across Britain as political turmoil holds back the economy, according to a Guardian analysis of economic news over the past month. In a sign of the mounting stress on the UK, the number of people in work dropped by the largest margin in four years in August as companies put their hiring plans on hold, with firms losing contracts and facing delays because of the uncertainty over Britain’s future. , some bright patches remain, including official figures suggesting that a summer recession has been avoided. – Guardian
Erecting wind turbines on the world’s best offshore sites could provide more than enough clean energy to meet global electricity demand, according to a report. A detailed study of the world’s coastlines has found that offshore windfarms alone could provide more electricity than the world needs – even if they are only built in windy regions in shallow waters near the shore. – Guardian
The stricken investment trust formerly run by Neil Woodford faces a backlash after appointing blue-blooded fund firm Schroders as its new manager on fees of £3.5m a year. Woodford Patient Capital Trust will be renamed as Schroder UK Public Private Trust, with investors facing a new annual management fee equal to 1pc of their holding from next year onwards. –Telegraph
About 1,200 jobs are at risk after the owner of the Supercuts hairdressing chain, one of Britain’s biggest, called in administrators. Regis UK — which was sold by its American parent to Regent, a private equity firm, in 2017 — was placed in administration on Wednesday. – The Times
Barclays has scrapped controversial plans to prevent customers withdrawing cash from post offices after an outcry by MPs and consumer groups. The reversal comes after Barclays was ordered to appear before a Commons committee to explain its earlier decision and after the intervention of John Glen, economic secretary to the Treasury. – The Times