Monday newspaper round-up: Private rents, TikTok, Yodel

(Sharecast News) - Average private rents in Great Britain have climbed to record highs, with the amount tenants are being asked to pay in some hotspots rising more than 25% in a year, data shows. The typical advertised private rent outside London for properties coming on to the market rose to a record £1,385 a calendar month in the third quarter of this year, according to the property website Rightmove. - Guardian US treasury secretary Scott Bessent claimed on Sunday that the US and China have finalized the details of a deal transferring TikTok's US version to new owners. "We reached a final deal on TikTok," Bessent said on Sunday on CBS's Face the Nation with Margaret Brennan. Alluding to Donald Trump and his Chinese counterpart, Xi Jinping, Bessent continued: "We reached [a deal] in Madrid, and I believe that as of today, all the details are ironed out, and that will be for the two leaders to consummate that transaction" during a meeting scheduled for Thursday in Korea. - Guardian

When the Polish parcel giant InPost announced it was buying up beleaguered courier Yodel in a £106m deal in April, it hailed a "bold leap forward" in the UK market. "This game-changing move dramatically accelerates growth and redefines delivery in the UK," the company said. Six months later, the takeover remains bogged down in High Court litigation, casting doubts over the company's ability to stay afloat. - Telegraph

The founder of one of the UK's largest employers has accused the government of ignoring family businesses and putting the security of the UK food chain at risk. Ranjit Singh Boparan, 59, the founder and owner of 2 Sisters Food Group, has claimed that family businesses have been "forgotten" by the government in favour of private equity and financial services. - The Times

The boss of the City regulator is heading to America's carmaking capital as he seeks to win support for the Financial Conduct Authority's contentious plan for an £11 billion consumer compensation scheme for mis-sold motor finance. Nikhil Rathi, chief executive of the Financial Conduct Authority, will fly later this week to Detroit, where he is expected to hold talks with at least one of the big car manufacturers that are on the hook to pay redress to British consumers. - The Times