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Sunday Papers: Centrica to abandon nuclear plants in Britain

Sunday Papers: Centrica to abandon nuclear plants in Britain

Top stories

  • Mail on Sunday: Centrica is expected to turn its back on building new nuclear power stations in Britain and instead focus its expansion in the US.
  • The Sunday Telegraph: British banks shares are becoming "uninvestable" due to opaque accounts, regulatory upheaval and political interference, ABI, a powerful investor group, has warned MPs.
  • The Independent on Sunday: Tesco's management shake-up is continuing, as the supermarket giant's group strategy director has become the latest to leave his post.
  • Mail on Sunday: Jaguar Land Rover is set this weekend to seal a £1 billion joint venture with China’s Chery car-maker that will see its luxury models built in the People’s Republic.

Business and economics

  • The Sunday Telegraph: Shell chief executive backs Government's "dash for gas", saying the fossil fuel is abundantly available, environmentally friendly and will provide energy for the next 250 years.
  • The Independent on Sunday: The UK's poorest families are the biggest victims of the latest squeeze on household budgets due to the rising cost of living, according to research released today.
  • The Sunday Telegraph: BP has warned it could remain mired in litigation over the Gulf of Mexico disaster until 2015.
  • The Independent on Sunday: Critics of the Big Four accountants believe that a Competition Commission inquiry into the audit market has found the smoking gun that proves that the market is "a closed shop".
  • The Sunday Telegraph: The administrators to Comet are working on deals to save up to 50 of the failed electrical retailer's stores.

Share tips, comment and bids

  • The Sunday Telegraph: Luxury notebook maker Moleskine is going to push ahead with a €350 million stock-exchange float despite interest from the likes of BC Partners and Lion Capital.
  • The Sunday Telegraph: The life insurance arm of American financial powerhouse Guggenheim Partners is in exclusive talks to buy the US arm of British insurer Aviva.
  • The Sunday Telegraph: Facebook and Yahoo! are in talks about forging an alliance that could spell the end of Yahoo!'s relationship with Microsoft.
  • The Sunday Telegraph: A small group of retail investors poses the last remaining risk to agreeing the £45 billion mega-merger between Glencore and Xstrata this week.
  • Mail on Sunday: Sir John Bond’s future as chairman of a merged Xstrata and Glencore is in doubt as investors seem almost certain to block his plans for huge retention bonuses for executives.
  • The Sunday Telegraph (Comment): The International Energy Agency's suggestion that the US could be the world's largest oil producer by 2020 has prompted some breathless analysis of America's shale boom.
  • The Sunday Telegraph (Comment): Sir Roger Carr, the president of the CBI, is correct on the issue of corporation tax. "If you want different results, you have to have a different set of rules."
  • The Sunday Telegraph (Comment): When Andrew Moss resigned as chief executive of Aviva, it came days after a bruising annual meeting at which 54pc of those who voted were against the insurer's remuneration report.
  • Mail on Sunday (Comment): George Osborne has much soul-searching to do in the run-up to his Autumn Statement. Hopefully, he will execute U-turns on the new tax on children and the pension income drawdown shambles.
  • The Observer (Comment): Paul Tucker, deputy governor of the Bank of England, is odds-on favourite to get a promotion – and that's despite the Financial Times backing him to succeed Sir Mervyn King as boss.
  • The Sunday Telegraph (Comment): The chief executive of Caffe Nero has defended his business's tax affairs after the company's annual accounts revealed that the coffee chain paid no corporation tax last year despite making pro¬fits of almost £40 million.
  • Mail on Sunday (Midas share tips): There seems little reason to chase Admiral Group at current levels, although existing investors may choose to hold on to their shares; Investors buying North Atlantic Smaller Companies Investment Trust now should do well.
  • The Independent on Sunday (Comment): If, as the noises off suggest, Paul Tucker is the next Governor, he has to persuade Andy Haldane to stay and maintain his fight against the system.

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