Financial Times – Birmingham declares itself bankrupt after equal pay deal drains resources 

The Financial Times leads on Birmingham City Council declaring itself bankrupt. The council blames its issues on outstanding equal pay claims worth up to £760m.

A story on the state of London’s rental market also features on the front page, with the FT reporting London rents have hit a “record high”.

The paper also reports on a large increase in visitors from the US causing a boom in European tourism. It says figures in London are up 13%. In France, a worker in Provence is quoted as saying Americans “will pay 30 euros for a glass of wine, but if you did that for a French visitor they would leave.”