The Financial Times leads on the news that Hitachi is preparing to pull out of plans to build a nuclear power plant on Anglesey in Wales. The paper calls it a “severe blow to Britain’s struggling nuclear power programme” at a time when the UK is trying to cut carbon emissions to reach its “net zero” target by 2050. Hitachi’s exit could also hit UK plans to reduce reliance on China, the paper says.
And executives at technology group SoftBank have revived talks about taking it private, according to the Financial Times. There are reportedly frustrations over the drop in SoftBank’s $115bn (£89.86bn) equity valuation compared with the value of its individual holdings, the paper adds. Also on the front page is a report that BP has warned of a peak in global oil demand within the next few years, as the pandemic is expected to usher in a decline for fossil fuels earlier than anticipated.
The Financial Times says documents it has seen show the government was warned in January that Boris Johnson’s Brexit deal would leave Brussels able to claim jurisdiction over “large amounts” of UK state aid policy after the end of the transition period.
The Financial Times leads on growing condemnation of Boris Johnson’s decision to press on with a controversial bill that would override parts of the Brexit treaty, with one EU diplomat describing it as “the absolute nadir of four years of negotiations”.
The EU’s chief Brexit negotiator, Michel Barnier, is to warn Boris Johnson that if he redraws last year’s Brexit divorce agreement, talks on a trade deal will collapse, the Financial Times reports.
The Financial Times says the UK is risking the collapse of trade talks with Brussels by planning new legislation that will override key parts of the Brexit withdrawal agreement.
The UK’s leading customs and logistics associations have demanded an “urgent” meeting with Chancellor Rishi Sunak and Cabinet Office minister Michael Gove after warning Brexit border preparations are inadequate, reports the Financial Times.
The Financial Times says the German government is to launch a full inquiry into the collapse of payments group Wirecard.
