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Sunday Papers: Cabinet coup to ditch Theresa May

And Autonomy founder Mike Lynch faces new US charges over £8 billion HP sale.

Sunday Papers: Cabinet coup to ditch Theresa May

Top stories

  • The Sunday Times: Senior ministers moved last night to oust Theresa May and replace the prime minister with her deputy, David Lidington, in a full-blown cabinet coup.
  • The Sunday Times: Mike Lynch, Autonomy’s founder, has been hit with fresh criminal charges in the US on the eve of a civil trial in London over the £8.4 billion sale of his software developer to Hewlett-Packard.
  • The Sunday Telegraph: A string of FTSE 100 companies are attempting to curb generous pension payouts for top bosses as powerful City investors demand action on unfair pay.
  • The Observer: Italy has endorsed a contentious plan by China to build a Silk Road-style global trade network, irking its EU and US allies.

Business and economics

  • The Sunday Times: City Financial, an investment firm with assets of $1.2 billion, has gone into administration after a huge bet on volatile markets turned sour.
  • The Sunday Telegraph: The embattled billionaire Philip Green is preparing for a bruising showdown over the fate of Arcadia’s giant pension schemes.
  • The Sunday Times: Metro Bank is at risk of losing £120 million of funding over “unrealistic” growth targets as it scrambles to recover from a huge accounting error, analysts have warned.
  • The Sunday Telegraph: A new research by public accounts experts has revealed a three-fold surge in hotel investments by local authorities, raising an alarm over councils ploughing taxpayers’ money into commercial property.
  • Mail on Sunday: The BT boss Philip Jansen has become one of Britain's richest executives after a massive windfall as he is in line for a £43 million payout after his former employer Worldpay agreed to a £32 billion merger.
  • The Sunday Times: Apple has quietly started recruiting lobbying experts to run campaigns for Hollywood awards such as the Oscars as it prepares to launch a rival to Netflix.
  • The Sunday Times: Lloyd’s of London plans radical action to tackle its “laddish” culture as the insurance market clamps down on toxic workplace.
  • The Sunday Times: Sussex University’s UK Trade Policy Observatory has said that Britain’s exports would shrink by as much as a fifth under a hard Brexit.

Share tips, comment and bids

  • Mail on Sunday (Midas share tips): Cash in on Law Debenture, the firm that helps whistleblowers.
  • The Sunday Times: A group of economists has said that the Competition & Markets Authority’s review of the proposed £14 billion merger between Sainsbury’s and Asda was flawed.
  • Mail on Sunday: Phones retailer Dixons Carphone has sealed a landmark agreement with mobile network operators over contracts it had described as ‘unsustainable’.
  • Mail on Sunday: Provident Financial’s bosses have launched a furious defence against a smaller rival's hostile takeover attempt, dismissing the offer as 'risky and flawed'.
  • The Sunday Telegraph: Asteya Partners, a US fund that sits on the board of the fast-food giant behind Burger King, is building a stake in Domino’s Pizza as the chain hopes to break the deadlock in a spat with franchisees.
  • The Sunday Times: Mike Ashley has slammed Debenhams’ board for not giving serious consideration to his proposal of buying Danish business Magasin du Nord.
  • The Sunday Telegraph (Comment): The radical ways central banks could revive the economy in the next recession.

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