Friday newspaper round-up: Councils, GSK, business confidence

(Sharecast News) - Almost half of councils in England risk falling into bankruptcy without action to address a £4.6bn deficit amassed under a Conservative-era policy, the government's spending watchdog has warned. In a damning report, the National Audit Office said that rising pressure on public services and repeated delays to reform the funding of local government meant town halls were in an "unsustainable" financial position. - Guardian The annual pay of GSK's chief executive could rise to nearly £22m in three years' time as the pharmaceutical company attempts to offer US-style pay packets to top executives. Emma Walmsley's package could increase to a maximum of £21.56m if the company's share price rises by at least 50% and it hits stretching targets, according to its annual report. - Guardian

The boss of a multibillion-pound hotel group has blamed Labour for his decision to slow investment in Britain and focus overseas instead. Greg Hegarty, the co-chief executive of PPHE Hotel Group, which runs the Park Plaza and art'otel brands, said he was prioritising countries such as Spain and Italy over the UK because of the Government's economic policies. - Telegraph

Sir Keir Starmer met Donald Trump in the Oval Office on Thursday to discuss everything from Ukraine to trade deals. The Prime Minister smoothed the way with a letter from King Charles personally inviting the US president for a state visit. No date has been confirmed. Yet officials would do well to make sure it is not in May. - Telegraph

Business confidence bounced back to a post-election high this month, driven by rising optimism about the state of the economy. A monthly survey of 1,200 UK companies reported a 12-point jump in sentiment in February to the highest level since August 2024 - the aftermath of Labour's election victory, according to Lloyds Banking Group. - The Times