Sunday newspaper round-up: No-deal Brexit, Thomas Cook, Barclays, Babcock

Supermarkets have asked suppliers to begin contingency planning in case Britain crashes out of the EU with no deal, prompting some to consider stockpiling goods such as tea and coffee. The German discount retailer Aldi emailed suppliers last month to say that it wanted to work with them “to help understand the potential implications” and to “mitigate any negative impacts”. - The Sunday Times

The scale of the grassroots backlash against Theresa May and her Cabinet over her Brexit plans has been revealed, as the Prime Minister is warned by her own constituency chairman that she must not concede any further ground to the EU. Cabinet ministers faced an angry response from their Conservative associations when they returned to their constituencies last week. - Sunday Telegraph

Plans agreed at the Chequers cabinet summit to publish reports every week through the summer detailing what a “no-deal Brexit” would mean for Britain have been scrapped — after warnings that the public would panic and never vote Conservative again. Downing Street sources confirmed last night that a series of papers advising businesses, homeowners, farmers, hauliers and holidaymakers how to prepare are now likely to be published on the same day in late August, rather than dripped out over a period of six weeks. - The Sunday Times

A string of giant US corporations including American Airlines, Nike, Ford and FedEx have issued a volley of panicked warnings about Brexit as nerves fray across the Atlantic. The jittery statements lay bare growing fears of political chaos, uncertainty and major economic upheaval in Britain and will pile pressure on Theresa May's Government, which is already besieged by bosses at home. - Mail on Sunday

Reports of a potential change in Japanese monetary policy have unnerved bond investors this past week, as the Bank of Japan (BoJ) yield curve control policy has been an important anchor for global bond yields. The BoJ’s commitment to keeping 10-year yields near zero drives investors into other bond markets around the world, keeping downward pressure on interest rates globally. - Sunday Telegraph

Flat owners have been overcharged billions of pounds for buildings insurance in an “endemic” problem that takes advantage of the leasehold system. It is usually the responsibility of the freeholder to arrange buildings insurance, but under the terms of the lease the cost is passed on to the leaseholders as part of their ground rent or service charge. The freeholder, or their managing agent, usually arranges this cover through a broker, which takes a commission from the insurer. - Sunday Telegraph

Farmers are to meet with Whitehall officials this week for an emergency drought summit amid fears that the heatwave could have a serious impact on the UK’s food supply. What the National Farmers Union describes as “tinderbox conditions” have severely reduced grass growth and depleted yields for many crops, leading to concerns that there will be a shortage of feed for livestock and dairy farmers later in the year. - Observer

The Government has delayed the award of the South Eastern rail franchise until November as concerns mount over the three transport giants vying to run one the country’s biggest train networks. An announcement on the route, which links London with Kent and East Sussex and operates 1,900 journeys each day, was due for August, according to the Department for Transport’s (DfT) latest rail franchise schedule. - Sunday Telegraph

In boardroom circles, having just the one job and concentrating on doing it well is terribly old-fashioned. No – if you are to be a self-respecting City grandee, you need to aim for at least two FTSE 100 chairmanships and maybe a couple of top-up posts on the side. The FTSE 100 is congested with men with dual chairmanships, and it’s a puzzle that shareholders tolerate their multi-tasking because no one, however brilliant, has the time to perform to full capacity in two very demanding positions, particularly when trouble hits. - Mail on Sunday

Thomas Cook has held talks about selling a stake in its airline, raising the prospect of the 177-year-old travel giant being broken up. Industry sources said it had held internal discussions on how to split its airline from its tour operator to free up cash, which would be used to pay down a big debt burden and fuel expansion. - The Sunday Times

Activist investor Edward Bramson has suffered a blow in his battle to shake up Barclays after another leading investor came out in defence of the bank. Richard Buxton, chief executive of Old Mutual Global Investors and manager of its £2.2bn UK Alpha fund, said that the proposal of the 5.4% shareholder to shrink Barclays’ investment bank was poorly timed and the wrong approach. - The Sunday Times

Babcock International has lost out on a potential £1bn contract to repair army vehicles, in a fresh blow to the FTSE 250 defence giant. The Ministry of Defence is understood to have told Babcock in recent weeks that it will not proceed with a deal to maintain about 2,300 armoured vehicles, including the Mastiff and Jackal. - The Sunday Times

Fears are mounting that a billion-pound contract to build a new fleet of ships for the Royal Navy could go to a Japanese company. The move would trigger dismay in UK military circles and would be seen as a major setback for the country’s shipyards, struggling with dwindling order books. It could also have political consequences as a decision to award the contract to an overseas firm might damage the government. - Observer

The non-executive directors of Lloyds Banking Group have been asked to reveal when they were made aware of an explosive report on the bank’s handling of fraud at one of its branches. Anthony Stansfeld, police and crime commissioner for Thames Valley, whose force’s investigation led to the convictions of the HBOS fraudsters in Reading, has expressed concern that the whole board did not see the so-called Turnbull report when it was handed to the authorities in 2014. - The Sunday Times

The future of House of Fraser has been thrown into further doubt after a Chinese investor delayed a potential lifeline, leaving the department store chain facing a cash crunch. Bosses at House of Fraser are facing a battle to keep the high street chain trading until the autumn after Hamleys owner C.Banner International Holdings put on hold a deal to pump in £70m of new capital. - Sunday Telegraph

Lidl is planning to lead the development of more than 3,000 homes and a primary school in the discount supermarket’s latest tactic to secure planning permission for a flurry of new stores around London. The German retailer has toyed with developments involving housing since 2008, but has so far built just 335 homes. It now wants to increase its involvement in mixed-use schemes to include offices, hotels, student accommodation and flats. - Observer

Countrywide, Britain’s biggest chain of estate agents, will make an emergency cash call next week amid concerns that its chairman Peter Long is too stretched to oversee the troubled firm. The firm is expected to say it needs to raise around £125million following four profit warnings in eight months. Its house sales are forecast to drop by a quarter this year. - Mail on Sunday

Gambling giant GVC Holdings is closing in on a $200m (£153m) deal with the world's largest casino operator MGM Resorts International in a move that could clear the way for a mega-merger. Ladbrokes and Coral owner GVC has confirmed that it is in talks with MGM over a joint venture that could be announced as soon as Monday. - Sunday Telegraph

Domino’s Pizza is under pressure from franchisees who are dragging their heels over new openings because of growing hostility towards the boss, David Wild. Relations are said to have soured so badly that some of the takeaway chain’s biggest franchisees boycotted the brand’s annual jamboree in Liverpool in March. - The Sunday Times

A refund scheme for investors who lost money in the Aviva preference shares debacle will open this week. Chief executive Mark Wilson backed down on plans to cancel the “irredeemable” preference shares in March after an investor outcry. The insurer is now offering £14m compensation. - The Sunday Times

Activist investor Crystal Amber has warned the banknote printer De La Rue that it is ready to increase its stake to pile pressure on boss Martin Sutherland. Fund manager Richard Bernstein signalled mounting frustration at De La Rue’s management following an ­attempt to block him from asking questions at its shareholder meeting last week. - Sunday Telegraph

Ryanair is battling yet another public relations disaster following staff walkouts that have scuppered thousands of customers' travel plans and wiped more than £1billion off the company's stock market value in the past fortnight. The airline's customer service operation appeared to be in meltdown as it struggled to handle the latest round of industrial action set for Friday, the fourth day of strikes to hit the carrier this summer. - Mail on Sunday

Apple is expected to unveil its biggest rise in profits since late 2015 with third quarter results set to hit $52.9 billion, boosted by pricier iPhones and strong sales from its lucrative app store and services business. Analysts and mobile industry sources expect investors in the Silicon Valley giant will enjoy another quarter of significant year-on-year growth when the group reports its quarterly results on Tuesday night. - Sunday Telegraph

The stage is set for an almighty showdown between Elon Musk and Wall Street when he unveils the first set of results since ramping up production of Tesla’s much-delayed family saloon. The billionaire lashed out at analysts after the last quarterly results, dismissing questions about Tesla’s increasingly precarious financial position as “bonehead” and “boring”. - The Sunday Times

Key figures working with the official campaign for Brexit planned to pump out controversial pro-Leave advertisements to millions of voters via Facebook the day after the Labour MP Jo Cox was murdered in June 2016, despite an agreement by all sides to suspend national activities out of respect, it has emerged. Evidence that Leave campaigners discussed their plans to re-start national activities with targeted, hard-hitting ads so soon drew a furious response from politicians and friends of the late MP. - Observer

...Facebook, Twitter and Google are facing the threat of new taxes to help fund a crackdown on a tide of fake news and misinformation which is poisoning British democracy, according to MPs. A damning report from the Digital Culture Media and Sport Select Committee proposed that Facebook and other social media firms should pay a levy to cover the costs of Britain’s data privacy watchdog, the Information Commissioner’s Office (ICO). - Telegraph

The record rout of Facebook’s shares has prompted calls for Mark Zuckerberg to be stripped of some powers at the social media giant. Zuckerberg, 34, serves as both chairman and chief executive and exercises 60% voting control. Jonas Kron, head of shareholder advocacy at Trillium Asset Management, said the set-up was “below industry standard” and called for the appointment of an independent chairman. - The Sunday Times

Facebook is braced for a $5.7billion tax bill in the US over its Irish subsidiary – and tax changes in Europe could force it to overhaul its business, the company said. Last week, the social media giant disclosed the litany of tax issues it is facing in its first half results. - Mail on Sunday

Doubts have been raised over the fate of a new nuclear power station planned for Cumbria after it emerged that most of the project’s 100 UK staff had been laid off. Toshiba has been trying to sell the NuGeneration consortium behind the Moorside plant since it had to write off billions of dollars because of problems with its US nuclear business last year. - Observer

A mobile phone app that offers diners restaurant discounts at off-peak hours is to float on the London Stock Exchange this week. BigDish was founded by British entrepreneur Aidan Bishop in Manila, capital of the Philippines, and has expanded across Asia into Hong Kong and Indonesia to work with around 500 restaurants. As part of its float in London – which is expected to value the company at up to £20million – BigDish is also buying a similar British business called Table Pouncer, which was founded in Bournemouth. - Mail on Sunday

The former boss of Beaufort Securities has set up an Indian takeaway company just months after the broking firm he ran collapsed following an FBI sting. After City broker Beaufort Securities fell into administration in March following a dramatic sting operation, the company's former chief executive and largest shareholder Tanvier Malik, who was not named in the allegations, has set up a London-based food business under the name Sanderson Kitchens Limited. - Sunday Telegraph

The controversial Qatar World Cup bid team broke Fifa’s rules by running a secret “black operations” campaign to sabotage rivals competing to host the tournament, according to leaked documents. Emails from a whistleblower show how the bid paid a public relations firm and former CIA agents to pump out fake propaganda about its main rivals, the United States and Australia, during its successful campaign to host the next World Cup. - The Sunday Times

Struggling burger chain Byron has warned it could face a cash call if hard-pressed consumers continue to spurn having meals out. At the start of the year, the casual dining chain closed 19 restaurants and cut the rent of five underperforming outlets after thrashing out a CVA and restructuring with creditors. - Sunday Telegraph

Doctors are handing out free prescriptions for toothpaste, bodywash and shampoo made by consumer giants such as Colgate and Neutrogena at a rate of nearly one a minute, costing the NHS £3.4m last year. The number of prescriptions for toiletries that most people buy for themselves has soared by nearly 600% in a decade, from 79,000 in 2007 to about 471,000 last year in England. - The Sunday Times