More than 11 million working-age people in Britain don’t have basic “rainy day” savings of at least £1,000, according to a report that warns that the poorest households are struggling to build up financial resilience amid the cost of living crisis.

The lead story for the Financial Times reports that former US President Donald Trump has a strong lead over current US President Joe Biden on the topic of the economy. The economy is usually the main concern for US voters – along with immigration. 

The front page of the London business newspaper, City AM, says Kemi Badenoch is under pressure from a top City group to revive a sweeping shake-up of audit rules after the government shelved many of its reform plans last year.

The front page of the London business newspaper City AM reports on the Barratt-Redrow merger. The paper says the £2.5bn merger of two of the UK’s largest housebuilders sent shockwaves through the market. 

The paper says shares in major FTSE 100 and 250 housebuilders suffered a mixed day on the London market, as the surprise merger highlighted investors’ skewed opinions on the state of UK housing.

The front page of the business paper The Financial Times reports on Sir Keir Starmer’s U-turn on green pledges. The Labour leader has confirmed that if his party is elected to power at the next general election (expected later this year) they will slash the green spending plan due to ‘frail finances’ after 13 years of Conservative power. 

In a transaction valued at £700 million, Barclays is buying Tesco’s retail banking operations, marking a significant deal for the supermarket giant.