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Sunday newspaper round-up: Boris Johnson, Labour conference, Brexit, Wrightbus, Thomas Cook, Ocado

By Josh White

Date: Sunday 22 Sep 2019

Sunday newspaper round-up: Boris Johnson, Labour conference, Brexit, Wrightbus, Thomas Cook, Ocado

(Sharecast News) - Boris Johnson failed to declare a series of potential conflicts of interest over a close friendship with an American model turned technology entrepreneur during his time as London mayor. An investigation by the Sunday Times revealed that the woman, Jennifer Arcuri, was given a total of £126,000 in public money and privileged access to three official overseas trade missions led by Johnson. - The Sunday Times
Homes left empty for more than six months could be seized by councils under radical plans set to be endorsed by Labour this week, the Sunday Telegraph reported. Momentum, the pro-Corbyn campaign group, was set to throw its weight behind proposals to hand local authorities wide-reaching compulsory purchase order powers to take ownership of empty homes. - Sunday Telegraph

British American Tobacco is being pursued by the Dutch authorities for £902m in unpaid taxes, as the maker of Rothmans, Camel and Lucky Strike cigarettes stands accused of avoiding tax on money channelled through the Netherlands. The claim relates to taxes the company is said to owe between 2003 and 2016 and concerns internal fees paid by Dutch subsidiaries for loans provided by its UK holding company. - Observer

Top Labour Remainers heaped pressure on Jeremy Corbyn to abandon his attempt to sit on the fence over Brexit today, warning that he desires to be neutral was 'simply not an option'. Deputy leader Tom Watson tore into his direct superior's attempt to fudge Labour's Brexit policy today - as he mocked an abortive bid to oust him as deputy leader. - Mail on Sunday

Jeremy Corbyn's leadership of the Labour Party was plunged into fresh chaos last night as it emerged that one of his closest aides has resigned, saying Corbyn, 70, will not win the general election. The Sunday Times has learnt that Andrew Fisher, head of policy and author of the party's last election manifesto, walked out last Saturday, declaring: "I no longer have faith we will succeed." - The Sunday Times

High Speed 2 will cost almost double the amount claimed by Theresa May, an official review panel has been told, as a new analysis put the overall bill at £106.4bn. A paper submitted to an inquiry set up by Boris Johnson suggests that the official estimate maintained by Mrs May's government fell some £50 billion short of the likely final costs of the scheme. - Sunday Telegraph

One of Northern Ireland's biggest employers faces a crunch week as Wrightbus, which employs 1,400 staff, attempts to stave off collapse by securing a last-minute rescue deal. Mounting financial problems at the Ballymena-based company have left it looking for a buyer, with the Chinese engineering group Weichai and a firm led by the JCB heir, Jo Bamford, understood to be the suitors in talks. - Observer

Jeremy Corbyn has been rocked by a fresh opinion poll bombshell after a new survey showed Labour is now 15 points behind the Conservatives. An Opinium poll has revealed that the Tories have consolidated their position as the most popular party among UK voters while Labour continues to struggle as it actually lost three points. - Mail on Sunday

The billionaire behind Hargreaves Lansdown has launched a blistering attack on Neil Woodford, slamming the beleaguered stockpicker for appearing not to be "truthful" about the performance of his frozen Equity Income Fund. Peter Hargreaves, who started the funds platform with Stephen Lansdown in 1981 and built it into a FTSE 100 giant, also added to the wave of criticism of his old company for holding too many of Woodford's funds and for failing to spot the crisis until it was too late. - The Sunday Times

A late-cycle surge in 'leveraged loans' has echoes of financial engineering before the Lehman crisis and could lead to a cascade of fire sales if conditions suddenly tighten, the world's top financial watchdog has warned. The Bank for International Settlements said the high-risk loans have climbed to $1.4 trillion and are increasingly being sliced and diced much like subprime mortgage debt before 2007. - Sunday Telegraph

Protesters in Hong Kong trampled a Chinese flag, vandalised a subway station and set a fire across a wide street on Sunday as pro-democracy demonstrations took a violent turn once again. The day's action began peacefully as protesters filled a shopping mall in the Sha Tin district and made a large display of folded paper origami cranes. - Observer

A bitter row has erupted between two former friends over the Ocado delivery business, threatening to embroil some of retail's biggest names. The legal spat - which centres on the historic tie-up between Marks & Spencer and Ocado - shines a spotlight on the battle for control of Britain's grocery delivery market, with accusations of industrial espionage, top secret meetings and 'bullying' business tactics. - Mail on Sunday

Thomas Cook bosses will hold a crunch meeting today as the fate of the world's oldest travel company hangs in the balance. The board, led by chief executive Peter Fankhauser, has been battling to secure an extra £200m of rescue funding to keep the tour operator flying. It made a last-ditch appeal for a state bailout this weekend after its lenders threatened to pull out of a proposed rescue deal, but ministers are believed to be wary of propping it up. - The Sunday Times

Marks & Spencer has lost its finance chief after just 14 months in the job, raising new questions over its cost-cutting efforts and plans to break into the competitive online grocery market. Humphrey Singer "has decided to leave the business" the company said yesterday. He will remain with the retailer while it finds a replacement. His exit will add to investor concern around M&S following its relegation from the FTSE 100 index this month. - Sunday Telegraph

Iran has accused foreign powers of raising Gulf's "insecurity". President Hassan Rouhani on Sunday denounced the presence of international powers in the Gulf, adding that Iran would propose a peace plan, after the US ordered reinforcements to the region. "Foreign forces can cause problems and insecurity for our people and for our region," Rouhani said during a speech at an annual military parade. - Observer

Shoppers making contactless card payments are being hit by new security rules that block transactions after they have made five tap-and-go payments in a row. Customers trying to pay this way are complaining that their cards are being declined - despite having adequate funds in the bank and an up-to-date card. But what many do not realise - and many shop staff are not aware of either - is that when a message saying 'card declined' flashes up, chip and PIN payments will be accepted instead. - Mail on Sunday

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