Sunday newspaper round-up: Tory leadership race, Hong Kong protests, Serco, Babcock, Arriva, Topshop
By Josh White
Date: Sunday 16 Jun 2019
(Sharecast News) - Boris Johnson's progress towards Downing Street appeared inexorable last night as his most senior rivals began circling for jobs in his cabinet and a new poll showed that voters believe he is the only leadership candidate who can win the next election. Two of Boris Johnson's rivals - Michael Gove and Sajid Javid - used interviews with the Sunday Times to issue coded job applications. - The Sunday Times
Theresa May is attempting to ram through a £27bn cash boost for the education budget in her final weeks in No 10, prompting a major row with senior ministers who believe it is an attempt to bind Boris Johnson's hands. The Prime Minister is demanding a three-year funding settlement for schools and teachers as part of a bid to shore up her "legacy", following a separate funding increase for the NHS last year. - Sunday Telegraph
Hundreds of thousands of protesters have flooded into central Hong Kong again over the postponed extradition bill, calling for a full retraction of the legislation amid fears authorities could resume efforts to pass the proposed law if public anger dimmed. The demonstrators, many clad in black and carrying white carnation flowers, took to the streets on Sunday after the chief executive, Carrie Lam, announced she had indefinitely halted efforts to pass a proposed extradition law. - Observer
Theresa May has privately vowed to thwart any attempt by Boris Johnson to take the UK out of the EU without a deal, her allies have told The Mail on Sunday. The disclosure comes as senior party figures told The Mail on Sunday that Mrs May had voted for ultra-remainer Rory Stewart in Thursday's ballot of MPs, which led to a landslide victory for Mr Johnson. - Mail on Sunday
Serco has made at least two audacious attempts to merge with its bigger outsourcing rival Babcock - a combination that would create a £4bn defence giant. Serco, which maintains Britain's nuclear bomb factory at Aldermaston, is understood to have made a preliminary approach late last year. Sir Roy Gardner, Serco's chairman, contacted his opposite number at Babcock, Mike Turner, who rejected the suggestion. - The Sunday Times
The investment empire behind Canary Wharf is among suitors eyeing the troubled transport titan Arriva as its German owner seeks to raise billions in an auction to pay down a €20bn (£17.8bn) debt mountain. The Sunday Telegraph reported that Brookfield, which has a major stake in Canary Wharf, is vying with Goldman Sachs and I Squared Capital to take control of the CrossCountry and Northern rail operator. - Sunday Telegraph
Pensions providers have been called on to do more to encourage people to save for their retirement as estimates suggest millions of people are at risk of retiring on incomes far less than the current "national living wage". Since the introduction of automatic enrolment in 2012, which obliged employers to auto-enrol qualifying staff in workplace pensions, some 10 million people have started saving, many of whom would not have done so before. A minimum of 8% of pensionable earnings must be contributed at present - 5% by the employee and 3% by the employer. - Observer
Bank of England governor Mark Carney was condemned on Friday for collecting a £150,000 pension perk worth nearly a third of his annual salary - far above the level deemed acceptable in the City. The chief executives of Lloyds, HSBC and Standard Chartered have all faced criticism after being handed yearly pension benefits worth more than a quarter of their basic pay. - Mail on Sunday
A group of powerful American landlords have launched a legal challenge against Topshop's bankruptcy in the US, casting a shadow over Sir Philip Green's attempts to rescue his Arcadia Group empire. Five landlords, led by the property giant Vornado, have filed an objection in an American bankruptcy court, seeking to recoup some of their losses, which they claim are well in excess of £100m. - The Sunday Times
The risk of a "no deal" Brexit is harming Britain "right now", the head of the CBI has warned, adding that threatening to leave the EU without a deal "is a bit like saying 'if you don't do what I want, I'll shoot my foot off'. It's not that the Brexit uncertainty and fear of no deal is going to have an impact in the future, it's having it right now. This is a situation of enormous urgency," said Carolyn Fairbairn, director-general of the business group. - Sunday Telegraph
Airline pilots have voiced fears over the safety of a fleet of Boeing aircraft after a crucial fire-fighting system has been found to have the potential to malfunction. Boeing has issued an alert to airlines using its flagship B787 Dreamliner, warning that the switch used to extinguish an engine fire has failed in a "small number" of instances. The switch also severs the fuel supply and the hydraulic fluid to prevent flames spreading. - Observer
Marks & Spencer shares have slumped to a ten-year low after the retailer's cash-call to pay for a historic tie-up with food delivery firm Ocado. The shares closed at £2.16 last week - their lowest level since January 2009, during the financial crisis. The group tapped £600m from investors to fund the deal that will see M&S replace Waitrose as the supplier to Ocado. - Mail on Sunday
Iran claims to have summoned the British ambassador yesterday after Jeremy Hunt said that attacks on two oil tankers in the Gulf of Oman were "almost certainly" carried out by Tehran. The Isna news agency, which has links to the regime, reported that Rob Macaire had been asked to explain Britain's "unfounded allegations" and "unacceptable stance". However, the foreign office denied the reports and said the ambassador had not been summoned. - The Sunday Times
Jeremy Corbyn is plotting a major tax raid on children helped onto the housing ladder by their parents and those who inherit even the lowest value homes, the Sunday Telegraph reported. A report commissioned by Labour proposes replacing the current system of inheritance tax with a "lifetime gifts tax" levied on cash or homes given to individuals during the course of their lives. - Sunday Telegraph
Tens of millions of people across South America were left without electricity early on Sunday after a massive power failure that left Argentina and Uruguay almost completely in the dark. Argentina's El Clarín newspaper said the "gigantic" power collapse had struck at just after 7am local time, affecting virtually the entire country as well as Uruguay, Paraguay and some cities in Chile. The outage was caused by a failure in the electrical interconnection system, energy company Edesur Argentina said on Twitter. - Observer
Almost 600 families have been forced to flee their homes as flooding made towns uninhabitable. And there's no end in sight as bad weather Britain is set to be battered by storms on Tuesday and Wednesday following showers today. Hundreds of homes remain at risk of flooding with 14 flood warnings still in place, mostly across the west of England, and 31 flood alerts in Humberside, around Bournemouth and in the area surrounding Greater Manchester. - Mail on Sunday
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