Tuesday newspaper round-up: UK retailers, Volkswagen, stock market funds

(Sharecast News) - UK retailers plan to create up to 100,000 short-term placements for young people not in employment, education or training (Neet) over the next three years to give them a first step on the ladder to paid work. In partnership with the Department for Work and Pensions (DWP), more than 40 retailers, including Marks & Spencer, Pets at Home, Asda and the John Lewis Partnership, will offer Neets aged 18-24 placements of two to four weeks to gain "the skills and confidence needed to take their first step into work". - Guardian

Canada's retaliatory tariffs on billions of dollars' worth of American imports have come into effect, escalating a trade fight that has been marked by intensifying tensions between US president Donald Trump and Canadian prime minister Mark Carney. The tariffs took effect at 12.01am on Tuesday, and range from 15% to 50% and apply to products covering $20bn in imports from the US. The measures target sectors including steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics - industries that have been most affected by US tariffs. - Guardian

Volkswagen is selling one of its plants to be turned into a weapons factory for Israel's biggest missile manufacturer. The Osnabrück factory in north-west Germany is expected to end vehicle production next year, before being repurposed to build military equipment with Israel's Rafael Advanced Defense Systems. VW said the site would make components for European air defence systems, while Yoav Tourgeman, Rafael's chief executive, said the aim would be "to protect Germany and Europe". - Telegraph

Westminster city council is to backtrack on proposals to curb "vertical drinking" after accusations that the rules would stop people from enjoying a pint while standing up. Councillors said on Monday that they would update the wording of a draft licensing policy after a row erupted about measures designed to reduce drinking at the bar in West End pubs in favour of more seating and table service. - Telegraph

Public companies will no longer be required to hold annual votes on directors' pay or in-person annual shareholder meetings as part of sweeping corporate reporting reforms being explored by the government. Ministers are pushing ahead with a major "once-in-a-generation" overhaul after starting a three-month consultation on Monday to simplify and modernise reporting requirements. It is part of the government's pledge to cut regulation and help kick-start sluggish economic growth. - The Times

Investors in the UK have pulled more than £15 billion net from stock market funds over the past year and reallocated more than half of this money to bond markets to capitalise on higher yields, research released on Tuesday suggested. Figures from Calastone, a funds network, showed that £8.7 billion net had been invested in bond investment vehicles since British investors started fleeing equity markets in June last year, suggesting that these fixed-income funds have absorbed just over half of the capital that flowed out of stock funds over that time. - The Times