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Sunday Papers: Government ‘going to war’ over £37bn late payments

Sunday Papers: Government ‘going to war’ over £37bn late payments

Top stories

  • The Sunday Telegraph: The government has given all businesses in the FTSE 350 one month to sign up to new rules on paying their suppliers promptly or face being “named and shamed”.
  • The Sunday Telegraph: The US Army has been called in to help with the battle to salvage Royal Dutch Shell’s stricken Kulluk Arctic drilling rig, which has now been beached in environmentally delicate waters for nearly a week.
  • The Independent on Sunday: The Bank of England's rate-setters will hold off on further aid for the recovery this week despite the threat of another slump looming over the economy.
  • The Sunday Telegraph: Labour's plan to scrap tax relief on pensions savings for higher earners is "fundamentally flawed", according to the former chief executive of Prudential UK.
  • The Independent on Sunday: The new boss of Pearson has overturned his predecessor's push to buy a prestigious Middle East-focused data and news service as he puts his stamp on the Financial Times owner.
  • The Independent on Sunday: High street giant Marks & Spencer is set to post its sixth consecutive quarter of falling clothing sales this week, despite its rivals enjoying a rise in trading over Christmas.
  • The Sunday Telegraph: President Barack Obama has warned of the “catastrophic consequences” that would follow a failure to raise the US national debt ceiling.

Business and economics

  • The Sunday Telegraph: Luxury goods group Mulberry has awarded senior staff almost £3 million of new share options in the wake of its share price fall in the second half of 2012.
  • The Independent on Sunday: Network Rail has signalled it is to pay nearly £35 million in train-travel expenses to its staff in 2011-13, around £1,000 per employee, as passengers suffer massive New Year fare increases.
  • The Sunday Telegraph: The head of global gold mining giant AngloGold Ashanti is on the verge of being named as the new chief executive of Anglo American, the FTSE100 mining giant.
  • Mail on Sunday: An unexpected £6 billion-plus boost for the economy is on the way this year thanks to the latest tranche of compensation for the mis-selling of discredited loan insurance.
  • The Sunday Telegraph: Balderton Capital, which has backed the likes of Bebo, Betfair and Love¬film is to raise a £250 million fund to invest in technology-focused companies.
  • Mail on Sunday: HSBC has unveiled attractively priced mortgages for first-time homebuyers, stirring up a market where few lenders seem to want to compete.
  • The Sunday Telegraph: Royal Dutch Shell could be forced to delay its entire drilling programme in the Arctic this year unless its grounded Kulluk rig can be repaired in time, the City's top oil analyst has warned.
  • Mail on Sunday (Taking stock): Knowing the turmoil in the eurozone, few small investors will be rushing to buy stocks in Spain and Italy, but investment bank JPMorgan thinks they could be among the picks of the year.

Share tips, comment and bids

  • The Sunday Telegraph: A major review commissioned in the wake of the £55 million West Coast Main Line fiasco will put forward proposals for a new, independent body to oversee multi-billion pound rail franchises.
  • The Sunday Telegraph: A quartet of financial investors is in the running to buy Oasis Healthcare, the UK's second-largest private dental chain, for as much as £160 million.
  • The Sunday Telegraph: The US private equity consortium, including JC Flowers, attempting to buy the 316 branches being sold by Royal Bank of Scotland is expected to hand control of the business to David Morgan, the former chief executive of one of Australia's largest banks, if it wins the bid.
  • Mail on Sunday (Midas share tip): Buy Fastnet Oil and Gas
  • Mail on Sunday (Midas share tip): Buy Sergo
  • Mail on Sunday (Midas share tip): Buy Avacta Group
  • The Independent on Sunday (Comment): Business needs to get behind proposals for specialist mentors who will be far more effective at setting school children on the right work route.
  • The Sunday Telegraph (Comment): British shoppers should brace themselves for "massive" food price rises in 2013, says the aptly named Mark Price, managing director of Waitrose. Is he correct, or is this just another retailer trying to soften up public opinion before imposing price hikes?

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