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Sunday Papers: EU budget talks collapse after funding rows

And National Grid to reveal that superstorm Sandy caused damage worth an estimated $370 million to its US supply network.

 
Sunday Papers: EU budget talks collapse after funding rows

Top stories

  • The Sunday Telegraph: Talks to agree the European Union's budget for next year broke down amid rows involving among member states including Britain – sparking a new funding crisis.
  • The Independent on Sunday: National Grid will reveal that superstorm Sandy caused damage worth an estimated $370 million to its US supply network when announcing its interim results on Thursday.
  • The Observer: The BBC has been plunged into the deepest crisis in its history with the dramatic resignation of its director general, George Entwistle, after just 54 days in the job.
  • Mail on Sunday: Nissan, which has received tens of millions of pounds in Government grants to build cars in the UK is avoiding paying millions of pounds in corporation tax every year by selling its vehicles through a Swiss parent company.
  • Mail on Sunday: The head of HSBC’s UK bank, Antonio Simoes, has flown to Jersey this weekend to carry out his own inquiry into the leak of 4000 customers’ account details.
  • The Independent on Sunday: The future of the £1.4 billion deal to provide trains for the Gatwick to Luton airport Thameslink route has been thrown into doubt as costs spiral due to funding delays.
  • The Sunday Telegraph: The spectre of inflation will rear its head again this week when the official measure comes off its three year low and the Bank of England warns that prices will rise faster than expected in the coming year.

Business and economics

  • The Independent on Sunday: A Canadian banknote maker is set to challenge British rival De La Rue on the London Stock Exchange as it eyes up a £200 million flotation early next year.
  • The Sunday Telegraph: Power supplier SSE will reignite the political row over energy company earnings this week when it is expected to report a leap of as much as 30% in first-half profits.
  • The Observer: Thames Water and Anglian Water paid no corporation tax on the profits made from their utility businesses while Yorkshire Water kept its payments to the Revenue in the low millions.
  • The Sunday Telegraph: J Sainsbury and Asda will this week up the pressure on under-performing rivals Tesco and Wm Morrison Supermarkets by reporting solid sales growth.
  • The Sunday Telegraph: China's commerce minister has attacked the US for its "Cold War mentality" over claims that Chinese telecoms maker Huawei poses a security risk because of its links to the Communist party.
  • Mail on Sunday: By simply accepting the annuity given by their existing pension scheme manager, savers have lost thousands of pounds in income over their remaining lifetime.

Share tips, comment and bids

  • The Sunday Telegraph (Comment): The market reaction to President Barack Obama's victory in the US presidential election was surprising when you consider that nothing really changed last Tuesday.
  • The Observer (Comment): The business secretary is upbeat about the prospects for the sector at the launch of the new Toyota Auris in Derby.
  • The Observer (Comment): As Japan's example shows, quantitative easing keeps companies going in a crisis, but can prevent them from adapting to reality in the long run.
  • The Observer (Comment): The data processors could learn a thing or two about presidential campaign coverage from old masters like Alistair Cooke, who wrote so eloquently when JFK achieved the White House.
  • The Observer (Comment): The BBC's journalism is justly renowned. But the post-Savile paralysis at the top left the programme exposed.
  • Mail on Sunday (Comment): Banks’ time in Wonderland must end soon - they are going to need to do something rather more than stick to the straight and narrow of basic bank accounts if they are to improve earnings and keep their shareholders happy.
  • Mail on Sunday (Midas share tip): Buy Staffline Group; Sainsbury’s shares are a solid long-term bet for existing and new investors.
  • The Independent on Sunday (Comment): When money was loose and leverage was king, private-equity firms were the hottest beasts in town. Now that money is tight and the banks don't want to lend – to anyone – is private equity dead?

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