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Sunday Papers: SoftBank hatches plan to take on PayPal

And Melrose's hostile bid for GKN faces government scrutiny over public interest.

Sunday Papers: SoftBank hatches plan to take on PayPal

Top stories

  • The Sunday Times: SoftBank, the Japanese technology colossus, is studying an audacious plan to create a global digital payments system that could take on PayPal, Apple Pay and China’s Alipay.
  • The Sunday Telegraph: A hostile multibillion-pound bid for engineering giant GKN from turnaround specialist Melrose is coming under increasing scrutiny amid concerns about national security.
  • The Observer: A controversial decision to allow Stagecoach and Virgin’s joint venture Virgin Trains East Coast to hand back a rail franchise three years early is to be investigated by Britain’s public spending watchdog.
  • The Sunday Telegraph: City firms are scrambling to sign up to a government-backed gender equality charter after calls from Virgin Money chief Jayne-Anne Gadhia to “get on board” in the wake of the Presidents Club dinner scandal.

Business and economics

  • The Sunday Times: Rio Tinto is facing renewed questions over its decision to open a $12 billion (£8.5bn) mine in the middle of the Gobi desert.
  • The Observer: The UK government is lobbying on behalf of UK-based tobacco giants operating overseas, despite spending millions of pounds trying to curb smoking rates abroad.
  • Mail on Sunday: Alice Temperley’s designer fashion label – favoured by the Duchess of Cambridge – has raised £1.8 million as part of plans to boost the fortunes of the loss-making business.
  • The Sunday Times: The government has been accused of failing to look after the interests of small business after the first decline in the number of new companies created in seven years.
  • The Sunday Times: Stronger than expected growth numbers have fuelled expectations that another rise in interest rates is on the way, with City traders now seeing a May rise from the Bank of England as an even-money bet.
  • The Sunday Telegraph: John Baker, the property entrepreneur behind the regeneration of London’s famous Burlington Arcade, has formed a new joint venture with building and civil engineering contractor Sir Robert McAlpine to build £2 billion of offices across the south east.
  • The Sunday Times: Facebook will this week shrug off the “fake news” controversy and a growing chorus of critics to unveil another year of rocketing profits.
  • The Sunday Times: Cyber-criminals have stolen £380 million from a Japanese cryptocurrency exchange in the biggest ever heist of digital currency.
  • The Sunday Times: Royal Dutch Shell is forecast to have doubled its annual profits thanks to a resurgent oil price.
  • The Sunday Times: The pressures of rising costs pushed the rate of company profit warnings to a two-year high in the three months to December as there were 81 profit warnings from UK-listed firms during the quarter, 11% higher than a year earlier.

Share tips, comment and bids

  • Mail on Sunday (Midas share tips): Concierge to the rich Ten Lifestyle Group is an investment set to sparkle.
  • Mail on Sunday (Midas share tips): Ideagen, the clever software firm that safeguards fighter jets, trains and hospitals, is flying high.
  • The Sunday Telegraph (Questor share tips): Zoopla's mix of home buying and comparison sites should ride out any wobbles.
  • The Sunday Times: A Swiss predator U-box is weighing a takeover bid of up to £150 million for part of Telit Communications, the embattled “internet of things” supplier that saw its chief executive resign last year amid allegations he was a fugitive on the run from American authorities.
  • The Sunday Times: Elliott Management, the aggressive New York investor set up by billionaire financier Paul Singer, has built up a 1.1% stake ahead of a possible shareholder vote on its £11.7 billion takeover by 21st Century Fox.
  • The Sunday Times: Britain’s largest private equity firms are weighing £500 million takeover bids for online travel agent eDreams Odigeo.
  • The Sunday Times (Comment): Elon Musk takes wrong turn with Tesla Model 3.
  • The Sunday Telegraph (Comment): The era of impunity is over for technology's 'Fearsome Five'.

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