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Thursday newspaper round-up: Brexit, trade, Unilever, water
(WebFG News) - David Davis has been accused by Brussels of engaging in "fantasy" politics after he claimed that an EU trade deal could be ready for ratification by March next year. The Brexit secretary told MPs yesterday that the government intended to have a political trade partnership deal in place by October, and that it could be turned into a legal treaty in time for Britain's official EU departure date. - The Times
Peers and MPs claimed a significant victory on Wednesday when an attempt to give sweeping powers to ministers was thrown out of the Brexit bill as complaints about the power of the Lords to reverse the decisions of the Commons grew louder. In the first of a series of votes on how the powers brought back from Brussels would be limited by the balance between ministers and parliament, peers from all parties defeated the government by 349 to 221 - a majority of 128. - Guardian
The DUP has warned it will bring down Theresa May's Government if Northern Ireland is forced to stay in the Single Market or Customs Union after Brexit. Nigel Dodds, the leader of the Democratic Unionist Party at Westminster, said his party would vote against the Government if any of its "red lines" on Brexit were crossed. - Telegraph
Senior British officials privately conceded last year that the UK's preferred solution for avoiding a hard border with the Republic after Brexit would threaten the EU's single market and that all possible outcomes would be damaging for the province. A series of leaked letters and briefing papers from the Northern Ireland executive - at least one of which was sent to Olly Robbins, the prime minister's most senior Brexit adviser - lay bare the huge difficulties created by Brexit. - Guardian
Resistance to a joint UK-EU proposal to the World Trade Organization on trade after Brexit - which was once celebrated by the trade secretary, Liam Fox, as "real progress" - has triggered a break down in unity, with London and Brussels divided on a way forward. In recent months the united EU and UK front has splintered in the face of a strident rejection of their proposals from the US, Australia and New Zealand, among others. - Guardian
The chancellor has rejected calls for the government to soon stop using the discredited retail prices index of inflation. Philip Hammond agreed with MPs on the Treasury select committee that a move to the consumer prices index would be "sensible", but said that this was not the right time. - The Times
Car production in Britain has experienced a double-digit slump amid concern over falling diesel sales and the impact of Brexit on exports. The performance last month, which was partly weather related, prompted the Society of Motor Manufacturers and Traders (SMMT) to repeat its call for continued membership of the EU customs union. - Guardian
The abolition of a corporate tax on dividends was "decisive" for Unilever in choosing whether to base itself in the Netherlands or Britain, according to Dutch government memos. Mark Rutte, the Dutch prime minister, faces a domestic political row over the tax break, which was introduced against finance ministry advice and will cost taxpayers 1.4 billion a year from 2020. - The Times
UK supermarkets and food companies launched a new voluntary pledge to cut plastic packaging on Thursday as ministers consider forcing them to pay more towards collecting and recycling the waste they produce. In a first response to a growing public backlash against the huge volumes of plastic rubbish, most of the UK's largest supermarkets signed up to support the UK Plastics Pact - an industry-wide initiative which says it aims to transform packaging and reduce avoidable plastic waste. - Guardian
Retailers will not suffer financial losses from the introduction of a plastic bottle deposit return scheme (DRS) in the UK, according to an analysis of a similar system in Norway. The environment secretary, Michael Gove, has announced plans to launch a deposit scheme for bottles and cans in the UK, and MPs are due to debate the subject in parliament today. - Guardian
Adults spend an average of one day a week online, according to research into the extent of our internet obsession. Less than half of the population continued to listen to the radio at home as we spent more time with smartphones, streaming services and podcasts, the study found. - The Times
England faces a one in four chance that the taps will run dry within the next 30 years unless the water industry undertakes a major drive to create a new national water system. The Government's infrastructure authority warned that England's water network is already under strain, and could leave large numbers of homes and businesses without water for extended periods unless ministers adopt their recommendations "without delay". - Telegraph
Corrupt Russian oligarchs sheltering dirty money in Britain's overseas territories will be exposed under laws set to be forced on Theresa May next week. Tax havens such as the British Virgin Islands and Cayman Islands have so far resisted moves to follow the UK's lead and reveal to public view the identities of those benefiting from assets held under their jurisdictions. - The Times
Facebook's data privacy problems have had little impact on its profitability as the company posted record revenues for the first quarter of 2018. The company made $11.97bn in revenue in the first three months of the year, up 49% from the previous year, beating Wall Street estimates of $11.41bn. - Guardian
Ford is slashing an extra $11.5bn (£8.3bn) in costs through to 2021 on top of the $14bn it had already announced, and signalled it may be looking to sell operations in Europe, as it seeks to kickstart a turnaround. The car maker expects its annual capital expenditure to peak this year at $7.5bn, and then will be cutting costs across engineering, marketing, manufacturing and sales between 2019 and 2022, saving a total of $25.5bn. - Telegraph
Millennials do not need living rooms, a leading architect has said, as he complains that size rules are shutting young people out of the housing market. In a briefing paper Patrik Schumacher, who worked on the London Aquatics Centre built for the Olympics, argued that centrally-located "hotel-room sized" studio flats are ideal for busy young people. - Telegraph