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Sunday Papers: HS2 project delayed by a year

Sunday Papers: HS2 project delayed by a year

Top stories

  • The Sunday Times: The £56 billion HS2 rail line is likely to get delayed by more than a year due to risk of soaring budget.
  • The Sunday Telegraph: Conservatives’ former London mayoral candidate Zac Goldsmith called on Theresa May to resign on Saturday as the campaign to unseat the UK Prime Minister neared tipping point.
  • The Sunday Telegraph: Sports Direct, which snapped up the remnants of the bicycle retailer last month, has cut hundreds of Evans Cycles jobs despite advice from the chain’s ­administrator that “almost all” of its stores are ­profitable.
  • Mail on Sunday: Some of the world's biggest insurers and banks will start moving £253 billion of assets out of the UK in just two weeks' time as they attempt to avert Brexit chaos, legal papers reveal.
  • The Sunday Times: Facebook is in talks with three local newspaper publishers in Britain, Johnston Press, Newsquest and Reach, owner of the Daily Mirror, over a radical plan to help fund journalism in an attempt to clean up its toxic reputation.

Business and economics

  • The Observer: Johnston Press agreed a deal to secure its future – only a day after the company entered administration – allowing scores of local newspapers continue to publish.
  • Mail on Sunday: American fashion group Urban Outfitters has defied Britain's high street gloom by reversing losses and increasing sales by 10% to £206 million.
  • The Sunday Telegraph: A Wall Street hedge fund, Coast Capital Management, is threatening an audacious boardroom coup at FirstGroup after accusing bosses of “driving the bus off the cliff”.
  • The Sunday Times: Astra Zeneca has begun succession planning for Pascal Soriot, its chief executive of six years, after pressure from shareholders.
  • The Sunday Telegraph: Amazon has embarked on a major hiring push for a secretive new device.
  • The Sunday Times: The Pensions Regulator has been warned that thousands of low-paid staff at Costa owner Whitbread have lost out on hundreds of pounds in tax breaks because of the type of pension they are enrolled in.
  • The Sunday Times: The billionaire brothers and property tycoons David and Simon Reuben are locked in a legal battle with Santander over ownership of the bank’s Madrid headquarters.

Share tips, comment and bids

  • Mail on Sunday (Midas share tips): BUY Glencore.
  • Mail on Sunday (Midas share tips): Hold your nerve as market robots give UK shares a hammering after Brexit talks.
  • The Sunday Times: Retailer Kingfisher is seeking to sell six B&Q stores in an effort to raise cash to fund chief executive Veronique Laury’s costly turnaround plan.
  • The Sunday Times: Sir Jim Ratcliffe’s company, Ineos, is understood to be in exclusive talks to buy £2.3 billion of North Sea oil and gas fields being sold by the US giant Conoco Phillips.
  • The Sunday Times: Business publisher Centaur Media has hoisted a “for sale” sign over The Lawyer magazine, in a move that could fetch up to £45 million.
  • The Sunday Telegraph (Comment): For all her grit and resolve, the Prime Minister is selling a false prospectus.

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