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Sunday Papers: China telecoms giant could be cyber-security risk to Britain

Sunday Papers: China telecoms giant could be cyber-security risk to Britain

Top stories

  • The Sunday Telegraph: The Bank of England has been warned off rethinking its inflation target by one of its own former policy makers, ahead of new figures which are expected to show prices are climbing once more.
  • The Independent on Sunday: Britain could face a damaging multibillion-pound trade war with China if an intelligence report, due out within the next two weeks, finds that the UK operations of the Chinese communications giant Huawei represents a threat to the UK's cyber-security.
  • The Independent on Sunday: Mothercare's chief executive, Simon Calver, is bracing himself for a backlash over his highly incentivised pay package, which could see him pocket £6.7 million, including £4.8 million in shares.
  • Mail on Sunday: Virgin Money is trawling through the accounts of customers at the part of Northern Rock it bought last year to see if any are due a compensation payout.

Business and economics

  • The Sunday Telegraph: Barclays has described accusations from the US energy regulator that its staff attempted to manipulate the American electricity market as “baseless” and “hollow”.
  • The Sunday Telegraph: Businesses are benefiting from a reduction in red-tape costs of almost £1 billion, the Government will say this week.
  • Mail on Sunday: Legal action has begun in Iceland relating to Mappin & Webb’s and Goldsmiths’ parent firm Aurum, whose owners agreed to sell the business just days ago.
  • The Independent on Sunday: Defence Secretary Philip Hammond's plans for reform of the £14 billion division that supplies and equips the armed forces are under threat as advisers struggle to prove they are value for money.
  • The Independent on Sunday: The Consumer Prices Index is expected to have risen for the second month in a row to 2.8% in November, continuing the upward trend in prices fuelled by October's surge in tuition fees.
  • Mail on Sunday: Nigel Hanger, the millionaire horseracing founder of Kettering Textiles, who sold the clothing recycling firm to the Salvation Army, is still reaping huge rewards.
  • Mail on Sunday: George Osborne faces a big hole in the public finances as it emerged this weekend that the auction of the fourth-generation radio spectrum may raise little more than one third of the £3.5 billion he predicted.
  • Mail on Sunday: The Government announced last week that 150,000 clients of Northern Rock Asset Management would receive payments totalling £270 million because of errors made by the bank in 2008.

Share tips, comment and bids

  • The Independent on Sunday: Rangers will list its shares on the London Stock Exchange this week in a move expected to value the football club at £50 million and revive the once-great team's fortunes.
  • The Independent on Sunday: Around 50 potential bidders have emerged for the London studios of ITV in a development that has led to speculation that the Downton Abbey broadcaster could leave for more up-to-date premises.
  • The Observer (Comment): There is likely to be some tension at the Invensys extraordinary general meeting on Wednesday between the hearts and minds (or hearts and wallets) of shareholders.
  • The Observer (Comment): As Richard Branson trades insults with IAG's Willie Walsh, Virgin's tie-up is a tacit admission that consolidation is the only way forward.
  • The Observer (Comment): With exploratory drilling about to restart, clear differences are apparent between the Tory chancellor and the Lib Dem energy secretary over Britain's shale gas reserves.
  • Mail on Sunday (Comment): Despite all the world’s troubles, sterling’s value has stayed remarkably steady in the past year, edging between about $1.53 and $1.63 and €1.18 and €1.29. Should we fix again?
  • The Observer (Comment): The Bank of England's next governor appears to think the simple 2% inflation target should be ditched, but doubts remain about his strategy.
  • The Observer (Comment): While the British regulator's warnings over ringfenced assets and money laundering go unheeded, US agencies have hit FTSE 100 companies with more than £6 billion in fines.
  • Mail on Sunday (Midas share tips): Buy Kentz Corporation.

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