Theresa May launches a frantic two-week campaign today to save her Brexit deal and premiership by telling MPs to do their duty and support her or face going “back to square one”. In a high-risk strategy to turn the tide of opposition in Westminster, the prime minister will then embark on a nationwide tour designed to sell her plan directly to the electorate. - The Times Business leaders have rallied to support Theresa May’s Brexit deal, even as an independent study showed that the prime minister’s agreement meant the UK stood to lose £100bn a year by 2030 in reduced trade and income. Executives in the City of London warned MPs to vote for the deal negotiated by the prime minister to avoid a no-deal Brexit that would harm the UK economy. - Guardian Theresa May’s Brexit deal will leave the UK’s GDP about £1,000 lower per person than if the country remained in the EU, according to an economic analysis. A report by the National Institute of Economic and Social Research think tank said that under the prime minister’s plan to leave the EU in March 2019, have a transition period until the end of 2020, then leave the customs union and have a comprehensive free trade agreement, GDP would still fall significantly. - The Times Theresa May will challenge Jeremy Corbyn to a TV debate on her Brexit deal as the showpiece of an election-style campaign to seek the country’s backing. The Prime Minister intends to hold the crucial Parliamentary vote on the deal on December 12, and will on Monday update Cabinet on plans for a two-week media blitz timed to exert maximum pressure on MPs to fall into line. - Telegraph Shoppers in Britain were poised to carry on splashing the cash into Cyber Monday, with some forecasts suggesting they planned to spend more than £7bn across Black Friday and the online shopping day. Millions of bargain hunters are expected to go online on Monday to take advantage of generous bargains, dealing a further blow to the struggling high street as the Christmas shopping bonanza takes off. - Guardian Bulky presents under the Christmas tree are no longer enough: young Britons expect to be given adventures and days out that will gain them likes on social media, research has found. In a new blow to the high street, traditional offerings such as clothing, books and gadgets are being overlooked in favour of something rather less tangible: the gift of experience. - The Times One of the country’s top insolvency experts has been called in to the administration of Phones 4u to assess whether to launch a damages claims worth hundreds of millions of pounds against mobile operators over their alleged role in the collapse of the retailer. Paul Copley, who has worked on high-profile insolvencies and complex restructuring projects was appointed on Friday. - Telegraph Big Four accountant EY, entertainment conglomerate Disney and phone maker Huawei are reported to be among the worst offenders in a newly launched index tracking secrecy in corporate lobbying. The UK arm of Transparency International, a non-governmental organisation that campaigns against corruption, ranked 104 multinational companies, finding that four in five firms had “poor standards” in disclosing lobbying activities. - Guardian Facebook and Amazon are among the companies facing criticism for their political lobbying in the UK, in a new report from Transparency International. The report into corporate political engagement, released today (Monday), warns that nearly three quarters of UK businesses urgently needed to review their practices. - Telegraph Passengers dissatisfied with how train companies handle complaints can now appeal to an independent arbiter, as a new rail ombudsman service comes into force today. The ombudsman will have binding powers over train firms should it uphold a customer complaint. - Guardian The accountancy firm BDO is expected to confirm as early as today that it is merging with Moore Stephens in a transaction that could trigger a wave of consolidation in the sector. It has been in discussions for months over merging its operations with part of Moore Stephens, which has a large London business and satellite offices throughout the UK. - The Times The big four accountancy firms are expected to come under pressure from a new rival following merger talks between BDO and Moore Stephens. In a move designed to create a fifth firm capable of advising FTSE 100 firms, the new business would be larger than Grant Thornton, which has struggled to break into the lucrative market for advice work with Britain’s top corporations. - Guardian The NHS is set to save £300m after reaching deals with manufacturers on low-cost “biosimilar” versions of its most expensive drug, according to the health service’s chief executive in England. Adalimumab was previously available only under AbbVie's brand name Humira, but its exclusive patent recently expired, allowing the NHS to accept bids from companies who make biosimilar versions. - Guardian The fate of the Restaurant Group’s controversial £559 million takeover of the Wagamama chain will be decided this week amid signs that the deal will win backing from shareholders, albeit by a slender margin. The acquisition, together with the £315 million rights issue to fund it, have divided opinion and investors on both sides have lined up to give their views before Wednesday’s vote, which requires a simple majority. - The Times Bitter rivals Sir Richard Branson and Willie Walsh are to lock horns in a bid battle for ailing regional carrier Flybe as experts warn failure of the country’s biggest regional airline could be catastrophic for a string of smaller airports. After years of struggle, loss-making Flybe has put itself up for sale following warnings of “material uncertainty” over its future. - Telegraph The former chief financial officer at Asos is in line to receive 13,000 shares next year, even though she has left the business to join Debenhams. The online clothing retailer said that Helen Ashton was entitled to the shares, at present worth about £650,000, under a long-term bonus scheme run by the online retailer, which will hold its annual meeting this week. - The Times A stock market flotation is on the table for Loungers, the café bar operator that has fought off strong competition in the dining sector to report another strong trading update. Loungers, which runs 137 café bars under the Lounge and Cosy Club brands, today will report a 31.9 per cent jump in revenues to £121.1 million in the year to April 22 on the back of 22 openings, with like-for-like sales up by 6 per cent, well ahead of the market. - The Times Eurozone creditors have agreed to Greek requests to scrap pension cuts planned for next year after the country’s startling economic overperformance this year. The so-called “Greek feat” appears to have effectively eliminated, for now, the need for further austerity measures that Athens and its lenders had agreed if the government had failed to meet tough fiscal goals. - The Times Dedicated shelf-edge labels alerting shoppers to food and drink items that are most useful to food banks are to be introduced by a major supermarket for the first time after a trial led to a three-fold rise in donations. From Friday, customers visiting more than 1,400 branches of Sainsbury’s will be urged to include priority items such as tinned fish, meat and vegetables, longlife fruit juice and dried or UHT milk in their shop, for donation after checkout. - Guardian The healthcare industry has reached a crossroads. A future outside the European Union is looming for a sector among the most vocal about the perils of a no-deal Brexit, while takeovers of companies and assets are at a record high. The scale of those mergers and acquisitions has forced politicians, scientists, entrepreneurs and investors alike to sit up and take notice. - The Times Thousands of charities and community groups have been told by Barclays that they will have to pay for their banking after it deemed that they no longer qualified for free services. About 5,000 not-for-profit organisations, ranging from small charities to scout groups, have been told that they must open a business bank account with the high street lender, meaning that they will be charged for services that previously were provided free. - The Times Data breaches and cyberattacks have become, for the first time, the biggest causes for concern for directors of public companies when considering personal liability. They have overtaken regulatory investigations as the most significant risk, a report by Allen & Overy, the law firm, and Willis Towers Watson, the insurance broker, has found. - The Times Bitcoin frenzy was becoming a mania this time last year, having risen from $4,000 in late September to $8,000 by late November and close to $20,000 by mid-December. Having shown signs of stabilising above the $6,000 mark for several months, it is down more than 33 per cent over the past seven days and is now below $4,000. - The Times A former UBS trader who was embroiled in the Libor-rigging scandal has been dealt another blow after failing to recover around £500,000 in legal fees from the Swiss banking giant. Arif Hussein, who now runs a burger restaurant in London after being banned from the City, has been told by UBS’s lawyers that the bank will not contribute towards his legal bill. - Telegraph Openreach has unveiled plans to upgrade broadband services for another million homes and businesses over the next nine months, as it continues to pursue a deal with Ofcom which will allow it to keep investing in its network. - Telegraph The Ukrainian president has proposed imposing martial law after Russian forces shot at and seized three Ukrainian navy vessels in the Black Sea, injuring six crew members according to Kiev, in a major escalation of tensions between the two countries.The seizure sparked protests by dozens of people outside the Russian embassy in Kiev. Some placed paper boats outside the residence while others threw smoke grenades and set fire to tyres piled up outside. - Guardian |
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