The Observer, Sunday Telegraph and Sunday Times were united in choosing to put Philip Green in a key position in their business pages today. The Sunday Times headlined: “Pensions probe targets heart of Green’s Empire,” and said that the “Pension Regulator has opened an investigation into Sir Philip Green’s Arcadia Group, cranking up pressure on the billionaire owner of Top Shop.” It also stated: “The Pensions Regulator is understood to have queried the payment of a lump sum, which could be seen as treating some members differently to others.”
Meanwhile, The Telegraph said that Green has paid the price for his rash gamble on Chappell, the man who took BHS on, and paid just £1 for the company.
The Observer, headlined: “Philip Green blasts Frank Field for turning inquiry 'into kangaroo court.”
The Sunday Times also suggested that a revolution is afoot at French Connection, as an active investor calls on the company to ditch is famous FCUK logo.
Both the Sunday Times and Sunday Telegraph homed in on the Bank of England’s likely reaction to increasing evidence that the UK economy is slowing after the Brexit vote. The Sunday Times suggested that The Bank of England will probably cut interest rates this week, and may announce another round of QE, while the Sunday Telegraph said that the Bank of England is set to slash its growth forecast by the biggest margin on record.
At the Observer, Larry Elliot took a look at the rise of Donald Trump saying “there is an element of nostalgia to this, but Trump’s appeal is not just about nostalgia. The fact is that the US middle class, which in Britain we would call the working class, really did enjoy more rapid increases in living standards and a much higher degree of job security three or four decades ago. It is also true that the offshoring of production has brought benefits through cheaper imports, but these gains tend to seem more nebulous than lost jobs and year after year of flat or falling pay.”
The Observer also took a look at Hinkley Point , headlining “Theresa May 'raised objections to project as home secretary.”
Returning to the Sunday Telegraph it led with the headline Sadiq Khan brands Labour an 'embarrassment' on business and warns over Corbyn's '1980s mantra' .
Finally, the Sunday Times claimed that the boss of 02, Ronan Dunne, who has announced that he is to step down, will take a senior job at Verizon in America. It was speculated that the regulators move to block the merger of 02 with CK Hutchinson’s Three, was behind Mr Dunne’s decision to quit.