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Sunday Papers: May’s Brexit deal crashes

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Sunday Papers: May’s Brexit deal crashes

Top stories

  • The Sunday Times: Brussels rejected Theresa May’s key Brexit proposal, which was intended to avoid the UK being trapped in an indefinite customs union, plunging the UK Prime Minister into a deeper crisis.
  • The Sunday Telegraph: Johnston Press has lined up restructuring firm AlixPartners to handle a potential insolvency and pre-packaged sale of the troubled 251-year-old newspaper publisher.
  • The Sunday Times: Star fund manager Neil Woodford has dumped an estimated £1.4 billion of shares in the past six months, scrambling to raise cash as angry investors withdraw money from his funds.
  • The Sunday Times: BAE Systems’ deal to sell a further 48 Eurofighter Typhoon jets to Saudi Arabia could be jeopardised by Germany’s ban on selling arms to the kingdom.

Business and economics

  • The Sunday Times: Fresh life could be injected into stock markets after the political gridlock following last week’s US elections, according to influential investors.
  • The Sunday Times: Leading Barclays shareholder, James Lowen, manager of the JO Hambro UK Equity Income fund, has hit out at Edward Bramson as the bank’s bosses prepare to meet the activist investor in New York.
  • The Sunday Telegraph: New Vodafone boss Nick Read is to cut the telecoms giant’s dividend to bring its mounting debt pile under control.
  • The Sunday Times: Mike Ashley is said to be readying another round of House of Fraser closures after landlords refused to agree to his new proposed terms.
  • The Sunday Telegraph: An internal investigation has revealed that Google workers making Pixel phones and parts for other products are overworked, underpaid and operating in unsafe conditions.
  • The Sunday Times: The ailing transport operator FirstGroup has earned £159 million in dividends from its Great Western Railway franchise over four years.

Share tips, comment and bids

  • The Observer: The owners of Aardman, the animation studio behind Wallace & Gromit, are handing over a 75% stake in the business to their 140 employees to safeguard the company’s independence.
  • The Sunday Telegraph: The founder and former chairman of Utilitywise Geoff Thompson has dumped his remaining 6% stake in the energy broker, raising concerns that the troubled business could become the latest casualty in the energy market.
  • The Sunday Telegraph: The Restaurant Group’s £560 million takeover of Wagamama is under threat as concerns mount over the logic of the deal.
  • The Sunday Times: Sir Philip Green is considering selling a property central to the BHS scandal to an entrepreneur backed by Lord Verjee, who brought Domino’s Pizza to Britain.
  • The Sunday Telegraph (Comment): Vodafone boss has big call to make on its future.

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