Wednesday newspaper round-up: British Steel, Metro Bank, eBay, Flybe
The government must act fast to prevent the French government from scuppering a deal to save British Steel, Labour has urged, amid opposition in Paris to a sale that would put a key national asset in Chinese hands. The Chinese industrial firm Jingye, run by a former Communist party official, is in the final stages of negotiations to buy British Steel, including the Hayange plant in northern France. – Guardian
A “sustainability charge” on meat to cover its environmental damage could raise billions to help farmers and consumers produce and eat better food, according to a report. The levy, which would increase the price of a steak by about 25%, would be phased in over the next decade. The report focuses on EU countries and was produced for the Tapp Coalition of health, environment and animal welfare organisations. It says “fair pricing” for meat should be included in the forthcoming European “green new deal” and so-called farm to fork strategy. – Guardian
Metro Bank has hired a top law firm to probe claims it breached sanctions against Cuba and Iran in the latest scandal to hit the embattled lender. The bank has appointed investigators from DLA Piper to review its compliance rules, after discovering that a payment had been made to one of its customer's accounts from Iran last year. It came after the bank notified US officials about a Cuba breach in 2017. The investigation, first reported by the Evening Standard, is a fresh problem as the lender fights to rebuild confidence following an accounting scandal which stunned investors last January and has since sent shares crashing 90pc. – Telegraph
Shares in Ebay rose sharply on Wall Street last night after a report that the owner of the New York Stock Exchange has made an offer that would value the online marketplace at more than $30 billion. Intercontinental Exchange, known as ICE, has approached Ebay with an offer to buy its core business, according to The Wall Street Journal. While ICE has approached Ebay before, the two parties are not in formal talks and there is no certainty that any deal will be accepted. – The Times
Flybe assured European watchdogs that it was financially viable only months before it asked the government for a bailout. The troubled airline had to persuade the European Commission that it was a vibrant business when it applied to change the terms of some of its landing slots at Heathrow airport, industry sources told The Times. - The Times