The Independent on Sunday: New airport mooted to rival Heathrow
A secret consortium has drawn up plans for a new four-runway hotel near Heathrow. A top infrastructure firm is assessing sites to the west and north-west of London which could accommodate an airport to rival or even replace Heathrow. It is understood to be talking to Chinese sovereign wealth funds over financing for the project, which could cost between £40bn and £60bn.
The Sunday Times: Banks ready to take control of Yellow Pages publisher
A syndicate of banks including Royal Bank of Scotland, Goldman Sachs and Deutsche Bank is preparing to seize control of the publisher of Yellow Pages, having lost patience with its management's ability to reduce its huge debts. The former Yell, now called Hibu, has seen its share price collapse from 600p five years ago to 1p today. Its debt of £2.2bn is 100 times its stock market valuation.
The Mail on Sunday: Champagne and sports tickets not counted as bribery
The new head of the Serious Fraud Office has reassured companies that entertaining clients at events like the Olympics will not lead to them being prosecuted under the Bribery Act. David Green said: "We are not interested in that sort of case. The sort of bribery we are investigating would not be tickets to Wimbledon or bottles of champagne. We are not the 'Serious Champagne Office'."
The Sunday Telegraph: Stansted valuation belongs in Noddy Land, says O'Leary
Michael O'Leary, chief executive of the budget airline Ryanair, is set to accuse BAA and its regulator of inflating the value of Stansted ahead of its forced sell-off. O'Leary will accuse BAA of using accounts straight out of "Noddy Land" as he tries to drive down the expected £1bn to £1.3bn sale price. His airline accounts for almost seven out of every 10 Stansted flights.Reuse content