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Sunday Papers: State bonanza continues for the crisis-hit outsourcers

Sunday Papers: State bonanza continues for the crisis-hit outsourcers

Top stories

  • The Sunday Telegraph: Mitie, Interserve, Carillion and Capita have been awarded more than £2 billion worth of public sector work since last summer, despite a string of profit warnings and crashing share prices.
  • The Sunday Times: A South African healthcare provider Mediclinic International, which already has a 29.9% stake in Spire, is plotting a £1.3 billion swoop on Spire Healthcare, Britain’s largest chain of private hospitals.
  • The Sunday Times: GKN is examining a radical break-up plan that could create two FTSE 100 companies - splitting its aerospace and automotive businesses.
  • The Sunday Times: Profit warnings have seen their biggest quarterly rise in nearly six years, as the sluggish domestic economy takes its toll on companies’ bottom lines.

Business and economics

  • The Sunday Times: The secretive investment firm that presided over the collapse of Monarch Airlines has saddled Scunthorpe steelworks with high-interest debt; Greybull Capital, which invests the wealth of two families, has loaded the vast Lincolnshire complex with a £154 million package of shareholder loans that has echoes of the debt package secured against Monarch.
  • The Sunday Times: The founder of SoftBank has revealed his plans to plough nearly $1 trillion into technology start-ups over the next decade.
  • The Sunday Times: Google has upped its spending on Washington DC lobbyists in the hope of clearing a regulatory path for projects churned out by its secretive research lab.
  • The Sunday Telegraph: The discount supermarkets Aldi and Lidl are pressing ahead with rapid expansion despite fears over shifting shopping habits that are forcing ­Britain’s “Big Four” grocers to shake up their store estates.
  • Mail on Sunday: Debenhams chief executive Sergio Bucher has embarked on a major overhaul of the company’s strategy to bring more ‘excitement’ into its stores up and down the country.
  • The Sunday Telegraph: Airbus is battling to reduce the amount it pays back to government investors who helped fund the development of its poorly selling A380 superjumbo.
  • The Sunday Times: BT is poised to overhaul its troubled international division in a move that could shut dozens of overseas outposts, including the scandal-hit Milan office.
  • The Sunday Telegraph: Investors are pressing for reassurance about corporate governance at Rio Tinto after the mining giant was hit with fraud charges by the US markets regulator last week.
  • The Observer: A judge on Friday tossed out a $417 million jury award to a woman who claimed she developed ovarian cancer by using Johnson & Johnson talc-based baby powder for feminine hygiene.

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