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Sunday Papers: Dieselgate leaves UK’s car industry in crisis

Sunday Papers: Dieselgate leaves UK’s car industry in crisis

Top stories

  • The Sunday Telegraph: The Canadian gambling giant Stars Group has agreed to take over Sky Betting and Gaming for $4.7 billion, establishing the largest publicly listed online gaming company in the world.
  • The Observer: Britain’s auto industry has been driven to the brink of a crisis, as falling diesel car sales has led to loss of thousands of manufacturing jobs, and dealerships threatened with savage restructuring.
  • The Sunday Times: Whitebread is expected to yield to pressure from activist hedge fund Elliott Advisors to break up the FTSE 100 company as the group's CEO announced that they are not “philosophically opposed” to Whitbread spinning off the Costa Coffee chain from its Premier Inn hotels.
  • The Sunday Telegraph: Activist investor Crystal Amber has labelled De la Rue’s handling of the new British passport contract a “farce” after it pushed down the security printer’s share price that wiped off almost £150 million off its value.

Business and economics

  • The Observer: Lenders have pushed prices of mortgage deals to their highest levels in two years ahead of an expected interest rate rise next month.
  • The Sunday Telegraph: The Bank of England will launch Libor replacement “Sonia” system on Monday in an effort to drop the scandal-hit interest rate benchmark.
  • The Sunday Telegraph: Metro Bank investors lashed out at the lender after it was revealed that its chairman and his wife used company money to finance private jet trips for personal trips and rented a flat on Park Lane in Mayfair.
  • The Sunday Times: The City dealmaker Amanda Staveley's firm, PCP Capital Partners, is suing Barclays for damages of up to £1.5 billion over the bank’s alleged fraudulent misrepresentation and deceit over the arrangements made with Qatar in 2008 that helped the bank avoid a taxpayer bailout.
  • Mail on Sunday: Shire boss Flemming Ornskov is eyeing a $57 million windfall from a sale of the drugs giant if the company accepts the latest offer made by Japanese rival Takeda.
  • Mail on Sunday: WPP is under pressure from investors to reveal more information about the dramatic exit of long-standing chief executive Sir Martin Sorrell, who was facing unspecified allegations of ‘personal misconduct’.
  • The Sunday Times: Capita is expected to ask shareholders for up to £700 million as the embattled outsourcing giant is trying to repair its balance sheet after a string of profit warnings.
  • The Sunday Telegraph: Allied Healthcare has said it will approach creditors for a rescue plan as one of the UK's biggest providers of home care for old and vulnerable patients deals with financial difficulties.
  • The Sunday Times: MPs have warned that cutting tariffs on food imports after Brexit would be “extremely damaging” for British farmers and would bring only small benefits to consumers in terms of lower prices.

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