Newspaper Summary
The Times
Inflation bungle piles on the pressure for rate rise: Pressure on the Bank of England to raise interest rates may be building more rapidly than first thought after a mistake by the Office for National Statistics led to domestic inflation being understated.
Rivals deliver broadside at BT’s broadband plans: A proposal from BT to spend up to £600 million connecting a million homes in rural areas with faster broadband has been attacked by rivals as a “secretive” backroom deal that risks cementing the company’s monopoly grip on the industry.
Traditional stores’ days are numbered, Aviva warns: One of Britain’s biggest property owners has predicted the death of the traditional shop, as it warns that most physical stores on the high street will be wiped out by the relentless rise of online shopping.
Driverless cars can transform cities by 2025, says Toyota: The image is of New York’s Fifth Avenue in 1905 teeming with horse-drawn vehicles. The man showing it says: “Can you spot the car?” In that maelstrom, there is only one.
City blamed by IPPR think-tank for weak productivity: The financial sector is failing British industry and is the main cause of weak productivity, which should prompt the Treasury select committee to look at possible reforms, the Institute for Public Policy Research claims.
Wood Group resists the lure of London and anchors itself in Aberdeen: The £2.2 billion deal for John Wood Group to acquire Amec Foster Wheeler is over the line after clearing all the regulatory hurdles and approval from shareholders.
Just Eat takeover of rival Hungryhouse ‘in doubt’: As the takeaway delivery company awaits the provisional findings of the Competition and Markets Authority’s in-depth, or phase two, investigation into its proposed purchase of Hungryhouse, expected this week, experts and analysts are less certain.
The Independent
Dove says it deeply regrets ‘racist’ Facebook advert: Personal care brand Dove has been forced to apologise after releasing a series of “racist” images that appeared to show a black woman turning white after using the soap.
Harvey Weinstein fired from The Weinstein Company following harassment scandal: Harvey Weinstein has been fired from the film company he co-founded, The Weinstein Company board of Directors has announced.
Greens aiming for zero emission city centres by 2023: The Green Party is challenging five U.K. cities to achieve zero emissions city centres by 2023, as it seeks to force the Government to tackle the public health crisis that is air pollution.
The Daily Telegraph
Homes target may never be met, warns housing guru: One of Britain’s leading housing experts has issued a grave warning about the national housing crisis, claiming that current policies are more likely to exacerbate inequality and homelessness than solve the problem.
Rising ticket prices put sales into reverse for Silverstone race track owners: The owner of Northamptonshire’s Silverstone race track has revealed that its revenue reversed by £1.5 million to £54.9 million last year driven by a drop in ticket sales for Formula One’s British Grand Prix.
Lendy Finance’s property valuations in FCA spotlight: The City watchdog is understood to be poring over the books of Lendy ¬Finance amid growing concerns over the peer-to-peer lender’s property valuations and the methodology the wider industry uses to evaluate defaults.
Buzzfeed U.K. doubles turnover but losses rise on the back of rapid expansion: The British arm of the digital media company Buzzfeed has lifted the lid on its finances for the first time, revealing rapidly increasing sales but mounting losses as it pursues international ¬expansion.
Chicken supplier’s investors in a flap over inquiry into food hygiene standards: Investors have raised concerns about the crisis engulfing chicken supplier 2 Sisters as ratings agency Moody’s warned that the fallout costs could quickly spiral.
Swedish challenger bank Handelsbanken commits to U.K. but wants Brexit clarity: Swedish banking giant Handelsbanken has said it is committed to expansion in the U.K., but added that it wants to see clarity on the terms of Brexit this year.
The Guardian
U.K. trade department draws half its secondees from arms industry: Half of the private sector employees seconded to the Department for International Trade have strong links to the defence industry, according to new figures.
Deliveroo battles with councils over pop-up takeaway food kitchens: Deliveroo is facing battles with local authorities over its use of kitchens on car parks and industrial estates in which chefs are making takeaway food for hip restaurants such as MEATLiquor, Busaba Eathai and Notting Hill’s Cocotte.
Brexit uncertainty cools foreign interest in U.K. buyouts: Foreign firms have put the brakes on buying British rivals this year in response to Brexit uncertainty, despite the lure of snapping up businesses that have tumbled in value after a slump in the pound.
Warnings grow louder over cryptocurrency as valuations soar: In recent months, warning voices have grown louder as the digital assets known as cryptocurrencies have attained record valuations. The price of bitcoin, the most famous cryptocurrency, has soared this year, from $969 to more than $5,000 in September; rival Ethereum began the year at $8 and has traded as high as $400 – while new coins or tokens are issued weekly, often attached to tech startups as a way to raise venture capital.
Daily Mail
Sale of fashion chains Oasis, Warehouse and Coast is cancelled after only one offer: A sale of fashion chains Oasis, Warehouse and Coast has been cancelled. It previously emerged the only offer made to owner Kaupthing, an Icelandic bank, had come from Emerisque Brands, whose Chief Executive is a fugitive.
Debt binge of £203 billion threatens to sink the U.K. economy as the IMF warns of a new financial crash looming: A surge in household borrowing is paving the way for another financial crisis, according to the International Monetary Fund. In a hard-hitting report published ahead of its annual meetings in Washington this week, the watchdog warned of ‘risks down the road’ from rising levels of debt.
M&S could soon be stocking back up on U.K.-made tights as it looks to revive pioneering fashion brand: The high street chain is in early talks with a group trying to re-establish Adria, a hosiery business formerly based in Northern Ireland that was one of its main suppliers.
Monarch’s fear of losing £60 million landing slots as its operating licence hangs in the balance: Legal experts say the firm, which entered administration, may lose the right to sell its airport slots if its operating licence is revoked in the coming weeks.
Coconut porridge fad helps Pret A Manger boost profits by almost £30 million: Trendy pots of coconut flavoured porridge helped sandwich chain Pret A Manger boost profits by almost £30 million in 2016.
Daily Express
Is another stock market crash likely, 30 years later?: Black Monday, the largest ever one day crash in the history of the stock market, shook the world exactly 30 years ago this month.
Remember that ‘Winter is Coming’ so prepare for hard times, says Geoff Ho: Fans of the hit TV show Game Of Thrones know that the Stark clan’s motto “Winter Is Coming” is a warning to prepare for hard times.
Brexit is the ‘mother of invention’, say SMEs: Almost half of small businesses believe that Brexit will give them the chance to grow and capture market share, according to Hitachi Capital Business Finance.
Cut your energy bills and save up to £290 by changing supplier: Consumers are being urged to switch energy providers and save up to £290 on the average “Big Six” standard variable tariff, as people start to turn the heating on and winter approaches.
Air fares set to soar after airline’s collapse: Monarch Airlines’ collapse has left passengers with the prospect of paying nearly 20% more on key routes like Ibiza, data from Skyscanner.net shows.
The Scottish Herald
Sturgeon vows Scotland will pay to let EU citizens stay after Brexit: Nicola Sturgeon has vowed to pay to keep EU citizens in Scotland after Brexit. She said the measure was needed to protect EU citizens from the “looming threat” of the Tories’ “extreme Brexit” plans.
Losses at Trump’s Scottish golf resorts have doubled: Donald Trump lost millions of dollars for three years running on his two Scottish golf resorts.
The Scotsman
RBS Boss: Brexit will cause City job losses: The damage to the City from Brexit is “going to be quite considerable over time” and will result in job losses, the Chairman of RBS has warned.
Unison threatens strike action over health service pay: The union representing 65,000 NHS workers in Scotland will hand in their request for a pay rise, for student nurses to be paid a living wage and for a realignment of nursing pay bands at Holyrood.
City A.M.
BRC calls for a “demand-led and simple” solution for EU workers as U.K. faces workforce shortage: Uncertainty over the U.K.’s position on immigration is creating a workforce shortage, the U.K.’s retail industry body has warned.
Industrialist Sanjeev Gupta’s Liberty House Group accelerates U.K. bike manufacturing with Scottish takeover: Industrials and metals company Liberty House Group this weekend snapped up a Scottish bike maker as part of a wider strategy to revive cycle manufacturing in the U.K..
WH Smith to benefit from higher travel sales: Growing appetite for WH Smith’s airport snacks and paperbacks is set to propel the retailer to a sixth year of record profits this week.
Aardman feels the pinch from advertisers yet profits hold steady: Aardman’s animated commercials have suffered their worst sales for 13 years as nervous advertisers delayed campaigns, taking the shine off an 11% rise in group revenues.
Benugo’s owner dines out on double-digit sales growth: The firm behind Benugo coffee shops, Hix restaurants and the Gherkin’s bar rode the wave of rising leisure spending to deliver double-digit sales growth last year.
1Rebel secures £6.6 million to expand pay-as-you-go club fitness across London: London-based boutique gym group 1Rebel has raised £6.6 million to fund further growth of its high-intensity workout brand.
Hedge funds edge closer to potential debt deal for Brighthouse: Brighthouse, a rent-to-own high street retailer, could be taken off the hands of its private equity if bondholders can agree on a deal.
Ted Baker to unveil double-digit profit growth again on the back of overseas expansion: British fashion brand Ted Baker is expected to unveil double-digit pre-tax profit growth in its interim results on Tuesday, as it increases online and international sales.