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Sunday Papers: Gove challenges his rival Johnson again

And British Steel faces break-up unless white knight appears.

Sunday Papers: Gove challenges his rival Johnson again

Top stories

  • The Sunday Times: Michael Gove has announced that he will fight Boris Johnson for the Tory crown because he has a better “track record” and is more “capable” of delivering Brexit.
  • The Sunday Times: British Steel is likely to be broken up and sold piecemeal if a buyer for the whole business is not found.
  • The Sunday Telegraph: Housebuilder Galliford Try has rejected reports of a potential merger with competitor Bovis Homes.

Business and economics

  • The Observer: Donald Trump arrived in Japan yesterday and kicked off his visit by urging Japanese business leaders to increase investment in the US.
  • The Sunday Times: Britain’s biggest lenders are being pushed into risky mortgages due to a brutal price war, forcing some to leave the market and leading the Bank of England to plan a crackdown.
  • The Sunday Telegraph: Zenobe Energy, a battery start-up backed by former National Grid boss Steve Holliday, is launching a £120 million fund to accelerate the roll out of electric vehicles.
  • Mail on Sunday: Thomas Cook, Tui, Ryanair and easyJet have lost more than £16 billion of their market value in the past year, with hedge funds betting on further falls in a miserable summer for holiday firms.
  • The Sunday Times: FirstGroup is expected to write off millions of pounds on its South Western Railway franchise as it struggles with sluggish growth.
  • Mail on Sunday: The BBC is among several British pension funds which lost millions of pounds on their investments in US carmaker Tesla last week.
  • Mail on Sunday: Philip Green has offered to put an extra £185 million of security behind the Arcadia pension scheme in a bid to win support for a major overhaul of his Topshop to Dorothy Perkins empire.
  • The Sunday Times: Powerful pizza-shop owners have hired auditors to look into how Domino’s spends millions of pounds of advertising money.
  • The Sunday Telegraph: Chairman and a senior non-executive director of Russo-Ukrainian oil explorer JKX were ousted in the latest bloody boardroom coup, paving the way for merger with Ukraine oil company UNB.
  • The Sunday Times: GVC Holdings’ boss has been forced to apologise after a grilling in America’s gambling capital over historic operations in illegal markets.

Share tips, comment and bids

  • Mail on Sunday (Midas share tips update): Dividend cut sounds the last post for Royal Mail.
  • The Sunday Times: Fiat Chrysler is in discussions with Renault over a tie-up that could transform the European car industry.
  • Mail on Sunday: The proposed £2 billion-plus takeover of care home giant Barchester Healthcare by Australian investment house Macquarie is taking longer than expected due to the Brexit impasse.
  • Mail on Sunday: CK Hutchison, the owner of Three, has begun a legal challenge to overturn the European Commission's veto on his £10.3 billion takeover of O2.
  • The Sunday Telegraph: Premier Foods is seeking to offload its famous Mr Kipling cakes brand, paving the way for a possible break-up of the debt-laden food manufacturer.
  • The Sunday Times: Star fund manager Neil Woodford has hired stockbroker Numis to sell his entire stake in one of the UK’s most promising science companies, Oxford Sciences Innovation.
  • The Sunday Times: JPI Media is hunting for buyers for national newspaper the i and more than 200 regional titles that it owns.
  • The Observer (comment): Could the government step in to save stricken British Steel?

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