French President Francois Hollande has told Britain that the sooner it leaves the EU the better. After a visit from new UK Prime Minister Theresa May, Mr Hollande warned that “uncertainty is the greatest danger” and urged May to trigger Article 50 quickly. (The Independent)
MPs say billionaire Sports Direct International PLC (LON:SPD) boss Mike Ashley is “directly accountable” for the “Victorian workhouse” conditions experienced by workers at his chain of sports stores. The Business Innovation and Skills Committee accused the high-street retailer of treating workers more like commodities than people. (Daily Mail)
Banks and building societies handed out nearly £21bln of home loans last month despite the uncertainty generated by the recent referendum. Property prices have also failed to falter post-Brexit, with major cities continuing to record double-digit annual growth in June. (Daily Express)
Tourism boards are reporting record numbers of bookings as millions of Britons opt to go on ‘staycations’ rather than foreign holidays this summer. Economists predict the trend will provide a massive boost to the UK economy as workers spend their cash at home rather than abroad. (Telegraph)
HSBC Holdings PLC (LON:HSBA) conducted its own investigation into the US$3.5bln currency trade which is now under nvestigation by US prosecutors. The firm’s internal report cleared the transaction, finding no breach of its code of conduct. (Financial Times - subscription required)
Customer visits to high street bank branches are down by almost a third over the past five years, as smartphone-addicted Britons embrace mobile banking. The British Bankers’ Association estimates that the average person checks their finances via an app on their phone more than once a day. (The Guardian)
EDF could approve plans to build a new nuclear power station at Hinkley Point as early as next week, with the energy firm calling a board meeting to discuss the £18bln project next Thursday. (The Times – subscription required)