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Sunday Papers: Cabinet coup to ditch Theresa May

And Autonomy founder Mike Lynch faces new US charges over £8 billion HP sale.

Sunday Papers: Cabinet coup to ditch Theresa May

Top stories

  • The Sunday Times: Senior ministers moved last night to oust Theresa May and replace the prime minister with her deputy, David Lidington, in a full-blown cabinet coup.
  • The Sunday Times: Mike Lynch, Autonomy’s founder, has been hit with fresh criminal charges in the US on the eve of a civil trial in London over the £8.4 billion sale of his software developer to Hewlett-Packard.
  • The Sunday Telegraph: A string of FTSE 100 companies are attempting to curb generous pension payouts for top bosses as powerful City investors demand action on unfair pay.
  • The Observer: Italy has endorsed a contentious plan by China to build a Silk Road-style global trade network, irking its EU and US allies.

Business and economics

  • The Sunday Times: City Financial, an investment firm with assets of $1.2 billion, has gone into administration after a huge bet on volatile markets turned sour.
  • The Sunday Telegraph: The embattled billionaire Philip Green is preparing for a bruising showdown over the fate of Arcadia’s giant pension schemes.
  • The Sunday Times: Metro Bank is at risk of losing £120 million of funding over “unrealistic” growth targets as it scrambles to recover from a huge accounting error, analysts have warned.
  • The Sunday Telegraph: A new research by public accounts experts has revealed a three-fold surge in hotel investments by local authorities, raising an alarm over councils ploughing taxpayers’ money into commercial property.
  • Mail on Sunday: The BT boss Philip Jansen has become one of Britain's richest executives after a massive windfall as he is in line for a £43 million payout after his former employer Worldpay agreed to a £32 billion merger.
  • The Sunday Times: Apple has quietly started recruiting lobbying experts to run campaigns for Hollywood awards such as the Oscars as it prepares to launch a rival to Netflix.
  • The Sunday Times: Lloyd’s of London plans radical action to tackle its “laddish” culture as the insurance market clamps down on toxic workplace.
  • The Sunday Times: Sussex University’s UK Trade Policy Observatory has said that Britain’s exports would shrink by as much as a fifth under a hard Brexit.

Share tips, comment and bids

  • Mail on Sunday (Midas share tips): Cash in on Law Debenture, the firm that helps whistleblowers.
  • The Sunday Times: A group of economists has said that the Competition & Markets Authority’s review of the proposed £14 billion merger between Sainsbury’s and Asda was flawed.
  • Mail on Sunday: Phones retailer Dixons Carphone has sealed a landmark agreement with mobile network operators over contracts it had described as ‘unsustainable’.
  • Mail on Sunday: Provident Financial’s bosses have launched a furious defence against a smaller rival's hostile takeover attempt, dismissing the offer as 'risky and flawed'.
  • The Sunday Telegraph: Asteya Partners, a US fund that sits on the board of the fast-food giant behind Burger King, is building a stake in Domino’s Pizza as the chain hopes to break the deadlock in a spat with franchisees.
  • The Sunday Times: Mike Ashley has slammed Debenhams’ board for not giving serious consideration to his proposal of buying Danish business Magasin du Nord.
  • The Sunday Telegraph (Comment): The radical ways central banks could revive the economy in the next recession.

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6 Comments FCA: we'll visit every DB transfer adviser if we need to

FCA: we'll visit every DB transfer adviser if we need to

The Financial Conduct Authority has pledged to visit every firm offering defined benefit pension transfer advice if necessary to improve suitability levels across the market