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Thursday newspaper round-up: Brexit, Tesla, housing market

By Michele Maatouk

Date: Thursday 21 Jun 2018

Thursday newspaper round-up: Brexit, Tesla, housing market

(Sharecast News) - Theresa May could once again be on a collision course with the Brexiter wing of her party over a controversial proposal to keep the UK in a single market for goods. Whitehall sources said they believed free movement of goods was "100% the direction of travel" as the prime minister's focus shifts to the next battle over Britain's future relationship with the EU after next week's Brussels summit. - Guardian
The government plans to safeguard London's position as the world's leading financial centre after Brexit by signing a series of financial partnerships with non-EU countries. Philip Hammond will use his keynote Mansion House to the City's elite on Thursday to say that the government intends to strike deals outside of the single market that will make the UK a gateway to financial markets. - Guardian

Tesla has filed a lawsuit against a former employee, claiming he hacked into the electric car maker's accounts and shared trade secrets with third parties. In the lawsuit, filed in Las Vegas, Tesla alleges a former technician at its Nevada Gigafactory, Martin Tripp, passed on information including photographs and videos of its systems, to others after he was reassigned due to poor job performance. - Telegraph

Instagram's rapid growth is showing no signs of slowing, as it revealed it has hit 1 billion monthly users, and unveiled plans to expand into long-form videos. The photo-sharing app, which is owned by Facebook, last revealed the number of users on its platform in September, when there were 800 million people using the app. It has added around 200 million users each year for the past two years. - Telegraph

A top civil court has attacked the City watchdog for not pursuing more senior bankers over their involvement in rigging Libor, describing the case against a junior trader as "troubling". A ruling on Tuesday questioned the Financial Conduct Authority's decision to pursue Arif Hussein, a former UBS trader, despite him being "relatively junior" and involved in only a "limited number of chats" linked with manipulating benchmark borrowing rates. - The Times

The housing market in England and Wales has lost more than £1 billion in value in only a year as the sharp slowdown in London's housing market drags down the total. It is first time since 2011 that the value has fallen, according to the Office for National Statistics. In the year to December 2017, the market lost £1.2 billion in value, falling to £259 billion. - The Times


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