What The Sunday Papers Said
Monday 11 March 2013
The Independent on Sunday: Government closes in on 35-year deal nuclear deal with EDF
The Coalition has broadly agreed terms with French giant EDF over a £14bn new nuclear development at Hinkley Point in Somerset. The deal would see EDF receive a guaranteed minimum price for electricity produced over a 35-year period. EDF had pressed for a 40-year deal, double the length of time civil servants had envisaged. However, there is still a chance talks could break down.
The Sunday Times: Virgin Atlantic's new boss warns staff of record annual losses
Sir Richard Branson's airline is facing a loss of £135m. New chief executive Craig Kreeger warned in an internal memo that its financial performance is "well behind where we anticipated". Escalating fuel costs are likely to mean Virgin Atlantic suffers an even worse loss than last year's £80m. Kreeger added in the memo that the airline would "have to make some tough calls" and ruled out annual pay increases.
The Mail on Sunday: Wetherspoon boss looks to build a motorway pubs empire
Tim Martin, the outspoken founder of pub chain JD Wetherspoon, is looking to sell booze in motorway service stations. The 57-year old, who is as famous for his euroscepticism as for selling British ales at affordable prices, is close to signing a deal for his first motorway venture, the Extra service station in Beaconsfield. At present, selling alcohol in service stations is illegal, though the ban could be lifted.
The Sunday Telegraph: Wonga to double size of small-business loans to £30,000
Payday lender Wonga is to step up the amount it offers small businesses, by increasing maximum loan from £15,000 to £30,000. Better known for offering short-term personal loans with high rates of annualised interest, Wonga wants to grow the business customers' division it launched less than a year ago. Despite the increase, businesses will have no longer to pay back the loans, which remains at 52 weeks.
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