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Sunday Papers: Babcock set to scrap Devon shipyard

Sunday Papers: Babcock set to scrap Devon shipyard

Top stories

  • The Sunday Times: Babcock International is set to scrap its Appledore shipyard next month due to dearth of new orders, despite last-ditch efforts by ministers to save the north Devon site.
  • The Sunday Telegraph: Debenhams is considering ramping up store closures and axing its dividend under an emergency £100 million cost-cutting plan being finalised by its board.
  • The Observer: Ralf Speth, one of the UK’s most powerful chief executives and the boss of Jaguar Land Rover, has predicted that key industries will be destroyed by a hard Brexit.

Business and economics

  • The Sunday Times: Julian Dunkerton, who started out with a market stall and helped create Superdry in 2003, has warned that the retailer is on “a completely wrong path” and expressed his willingness to return and help revive the fashion company.
  • The Sunday Times: Fashion chain Reiss has registered strong sales growth this year, after early collections overseen by new chief executive Christos Angelides proved to be a hit with customers.
  • Mail on Sunday: Philip Hammond is set to give a £300 million tax cut to shops in Britain's most deprived town centres in a bid to help high street retailers.
  • Mail on Sunday: Losses have increased six-fold at shirt retailer Thomas Pink, as the company feels the impact of an upcoming relaunch aimed at taking the brand further upmarket.
  • The Sunday Times: Ocado, the internet grocer led by Tim Steiner, is hunting for two new distribution centres to capitalise on the surge in demand for online deliveries.
  • The Sunday Telegraph: The French private equity firm behind the country’s largest stock market listing, Omnes Capital, of the year is planning to plough more than half a billion euros into Britain’s wind-power industry.
  • The Sunday Times: Glasgow-based FreeFlow Technologies, which designs and builds lightweight motors, has appointed former chief executive of Dyson, Martin McCourt to the six-year-old start-up.
  • The Sunday Times: IFM Investors, an Australian giant that manages the pensions of 15 million members, is considering taking out political risk insurance for the first time to guard against renationalisation of key assets if Labour comes to power in the UK.
  • The Sunday Times: PwC and two of its partners are likely to be fined for missing a £21 million hole in the books of an IT services company Redcentric that caused its shares to crash.

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