What the Papers Say: Northern Powerhouse goes to China, BHS in trouble

The BBC reports on the Northern Powerhouse is being discussed by Chinese investors at an event in Hong Kong.

The story says: ‘Instead, lured by George Osborne’s promotion of the “Northern Powerhouse”, Chinese investors are packing their bags and heading up the M6.

‘They are not just buying homes. They are building them, too.

‘In the process the Chinese are helping to fuel the beginnings of a property boom and push up prices, particularly in Liverpool and Manchester.’

The Sunday Times says ‘Britain’s super-rich have suffered the worst hammering of their fortunes since the financial crash’ as part of its Rich List 2016 study.

It goes on…. ‘with Lakshmi Mittal losing three-quarters of his wealth, according to the new Sunday Times Rich List.

‘Mittal, 65, topped the list in 2008 with £27.7bn — the biggest fortune achieved by anyone on the Rich List before or since.

‘This year’s global crisis in the steel industry has sent his finances plummeting and he and his family are now worth £7.12bn — hardly the breadline, but a long way short of their peak, and a £2.08bn loss on last year.’ (full story behind paywall)

Most nationals are reporting on the demise of high street giant BHS, which has a store in Merseyway in Stockport.

The BBC reports that 11,000 jobs are at risk as BHS ‘could file for administration on Monday’.

The Telegraph says the last hope may have gone ‘after talks about a £60m financing deal with investment firm Gordon Brothers failed’.

The Manchester Evening News has a story praising an Asda manager for introducing ‘quiet hour for autistic shoppers’.

It goes on: ‘Autistic and other disabled customers will also be given a map of the store featuring pictures instead of words.

‘Manager Simon Lea says ‘you’ll be able to hear a pin drop’ when he starts his first quiet hour at 8am on Saturday, May 7.’

The BBC has an interview with US president Barack Obama, who warns that ‘the UK could take up to 10 years to negotiate trade deals with the US if it leaves the EU’.