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Sunday Papers: Richest man quits UK to save billions

Sunday Papers: Richest man quits UK to save billions

Top stories

  • The Sunday Times: Britain’s richest man and the prominent Brexiteer Sir Jim Ratcliffe has been planning to avoid up to £4 billion in tax after switching his home and his fortune to Monaco.
  • The Sunday Telegraph: Flybmi, the British regional airline, went into administration blaming “the uncertainty created by the Brexit process” for the collapse, along with recent spikes in fuel and carbon costs.
  • The Sunday Times: Up to six people, who are said to have signed fraudulent cheques and sent emails discussing fabricating invoices, face arrest over the Patisserie Valerie scandal.

Business and economics

  • The Observer: Two of the UK’s leading shale companies have called for the government to review rules on earthquakes caused by their operations.
  • The Sunday Times: British makers of products such as surgical gloves and hip implants have been warned they could be locked out of the EU in the event of a no-deal Brexit.
  • Mail on Sunday: Just Eat faces mounting pressure to merge with a rival after a second investor broke ranks to call for a shake-up.
  • Mail on Sunday: Plus500 was warned that it would suffer a huge blow from tighter regulation nine months before it issued a shock profit warning last week.
  • Mail on Sunday: Hedge funds are betting on a decline in the share price of Big Six energy giant SSE as it faces a £200 million bill to upgrade its ageing computer systems.
  • The Sunday Times: Amey, the troubled outsourcer, is preparing to pay more than £200 million to free itself from a botched 25-year PFI contract to repair Birmingham’s roads.
  • The Sunday Times: Richard Branson wants new partners for his Virgin Galactic and Virgin Orbit space ventures after a Saudi deal collapsed.
  • Mail on Sunday: PwC has become the latest accountancy firm to insert clauses into its audits of company accounts in case Brexit disruption causes the firm to go bust.
  • The Sunday Times: Frank Field, chairman of the Commons work and pensions committee, has slammed BT for seeking to appeal against two court rulings that stopped the telecoms giant making changes to its pension scheme.
  • The Sunday Telegraph: Marcus Agius, the former Barclays chairman, is expected to appear in court this week as a prosecution witness at the criminal trial of four former executives over the bank’s 2008 Qatari fundraising.
  • The Sunday Telegraph: Darktrace, the British cyber security company, has been pulled into the US fraud case against former Autonomy executives Mike Lynch and Sushovan Hussain.

Share tips, comment and bids

  • Mail on Sunday (Midas share tips): Could fracking bring you a deep well of profit?
  • Mail on Sunday (Midas share tips update): Sales gush at Diversified Gas & Oil as expert snaps up neglected shale sites.
  • The Sunday Times: Buyout funds TPG, Apax, Bain Capital and Cinven are circling WPP’s data company Kantar as the advertising giant prepares to sell a majority stake in the £3.5 billion business.
  • The Sunday Telegraph: Wyevale, the struggling garden centre chain, has narrowly escaped financial default after scrambling to sell off a third of its garden centres.
  • The Sunday Times: Investment fund Proton Partners is planning to raise £50 million on the NEX Exchange, a junior market based in London.
  • The Sunday Telegraph (Comment): Interserve ‘rescue’ is a shameful stitch-up.

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