Philip Hammond, the Defence Secretary, has been told that the historic Portsmouth Dockyard should be shut down and the supercarrier warship programme delayed by up to two years.
The findings of a report he commissioned into the future of British shipbuilding could put up to 3,000 jobs on the south coast at risk. Portsmouth's naval roots go back to the early 13th century.
The Sunday Times: 3i wields axe to see off revolt
Britain's biggest private equity firm, 3i, is set to fire swathes of head office staff and close overseas offices as part of an overhaul led by its new chief executive, Simon Borrows. The plans are set to be announced at 3i's shareholder meeting this week, as the buy-out firm attempts to cut its costs in a bid to rehabilitate its reputation in the City. Shareholders have criticised 3i for having a lack of deal-making focus.
The Mail on Sunday: England footballers the latest to be hit by tax loophole row
More than half of England's Euro 2012 team have put their money in investment schemes that contain a loophole to beat the taxman. Wayne Rooney, Danny Welbeck, Joe Hart, Steven Gerrard and Scott Parker are amongst the England players involved in investment schemes that are legal, but some of which have been challenged by Revenue & Customs in the courts.
The Sunday Telegraph: Gatwick airport's proposals for a second runway
Gatwick airport is set to resurrect proposals for a second runway as it attempts to become London aviation's gateway to Asia. As Heathrow struggles with capacity problems, Gatwick's chief executive, Stewart Wingate, criticised the hub for giving foreign airlines the impression that Heathrow being full meant London was "closed for business".