The Telegraph says that supermarket giant Asda is to unveil plans to introduce a same-day shopping delivery service as part of a £700m investment drive in the UK.

President of the European Commission, José Manuel Barroso, said that austerity in Europe could have reached its limit as debt in troubled nations continued to rise last year, writes The Times. He said: “A policy to be successful not only has to be properly designed, it has to have [a minimum level] of political and social support.”

The Chairman of internet giant Google, Eric Schmidt, has defended the company’s tax avoidance policies after paying just £6.0m in corporation tax in the UK, The Guardian writes. He said that Google “fully comply[s] with the law”.

According to The Independent, High Street rivals Sports Direct and JD Sports Fashion are thought to be considering bids for Manchester-based Americana, the owner of the Bench clothing brand. Offers could come in at up to £100m.

The government could raise up to £3.0bn from selling some or all of its one-third stake in Urenco, the uranium enrichment company, as it looks to cut public debt, says The Independent. The paper says that this would represent one of the largest privatisations in years.

Retail giant Walmart doubled the pay of four members of its audit committee last year to $120,000 as their workload increased on the back of the company’s investment into bribery allegations in Mexico, says the Financial Times.

The Archbishop of Canterbury, Justin Welby, has argued for the break up one of the UK’s largest banks to create a series of regional lenders, reports The Telegraph.