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Sunday Papers: Philip Green braced for Arcadia showdown

Theresa May to launch last-ditch attempt to gain MPs' approval for her Brexit deal with 'bold offer'.

Sunday Papers: Philip Green braced for Arcadia showdown

Top stories

  • The Sunday Times: Sir Philip Green is considering selling or closing Arcadia Group’s international businesses, most of which are loss-making, according to documents posted as part of his plan to cut rents and close stores.
  • The Sunday Telegraph: Theresa May is to launch a last-ditch attempt to gain MPs' approval for her Brexit deal, with a "bold offer" to Labour and Conservative critics.
  • Mail on Sunday: CK Hutchison Holdings, the parent company of Hong Kong’s richest family, has extracted almost £1 billion in dividends from British water, energy and rail firms over the past two years.
  • The Sunday Times: High street chaos sweeping Britain wiped £3 billion off the value of shops owned by the country’s biggest retail landlords last year.

Business and economics

  • The Observer: Elon Musk’s Boring Company is set to get its first payout - a $44 million contract – from Las Vegas to build a high-speed underground transit system serving an expanded convention centre.
  • The Sunday Times: Marks & Spencer is ramping up plans to close stores, setting it on course to shut 100 outlets by the end of 2020, almost two years ahead of schedule.
  • Mail on Sunday: Embattled British Steel was handed up to €50 million in UK state aid subsidies before its emergency £120 million loan this month.
  • The Sunday Times: Provident Financial, the embattled sub-prime lender, faces a shareholder revolt over pay as it struggles against a £1.3 billion hostile takeover bid from its old boss.
  • Mail on Sunday: Sir Martin Sorrell, the former WPP boss, is on course for another shareholder revolt against a long-term pay scheme at his new company S4 Capital.
  • The Sunday Times: Alex Gersh, who was finance director of Betfair before overseeing the merger with Paddy Power, is set to take the same position at Cazoo, the latest brainchild of Alex Chesterman.
  • The Sunday Times: Vernon Hill, Metro Bank’s billionaire American founder, has vowed to stand by the embattled lender following a turbulent week that ended with a £375 million fundraising.
  • The Sunday Telegraph: Activist hedge fund, Coast Capital Management, is poised to step up its attack on FirstGroup, issuing a set of radical demands that include slicing the company in two.
  • The Observer: ExxonMobil has reportedly evacuated all of its foreign staff from an oilfield west of Basra, in Iraq, as regional fears grew of potential US-Iran conflict.
  • The Sunday Times: Lloyd’s of London members have settled a long-running legal dispute in America over alleged price-fixing.

Share tips, comment and bids

  • Mail on Sunday (Midas share tips): BUY Lloyds Banking Group.
  • The Sunday Telegraph: Netflix is understood to have stuck a deal to lease a third of the space at the iconic Pinewood Studios in Buckinghamshire.
  • The Sunday Times: The restaurant tycoon Richard Caring is in talks with Middle Eastern investors about the sale of a minority interest in his Annabel’s private clubs empire.

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