Sunday newspaper round-up: House of Fraser, Heathrow, GVC, Homebase, FirstGroup

A group of powerful landlords is set to take on House of Fraser, demanding better terms from the struggling department store chain as it tries to push through rent cuts and shop closures. Property giants including Legal & General and Westfield have hired the restructuring firm Begbies Traynor and the property agency JLL to engage with House of Fraser as it prepares to launch a company voluntary arrangement (CVA), a form of insolvency that allows distressed businesses to walk away from certain liabilities. - The Sunday Times

A host of business heavyweights representing half a million companies have urged the Prime Minister to “crack on” with Heathrow’s third runway or risk losing trade. The CBI’s Carolyn Fairbairn, British Chambers of Commerce’s Adam Marshall, and Stephen Phipson from ­manufacturing organisation EEF, are among the signatories of a letter calling on Theresa May to hold a vote on Heathrow’s expansion quickly. - Sunday Telegraph

The gambling company that owns Ladbrokes Coral and Foxy Bingo faces a bruising shareholder rebellion over the “excessively disproportionate” £67m paid to two of its bosses. GVC, a FTSE 250 company with its headquarters on the Isle of Man but mainly operating from Gibraltar, has awarded its chief executive, Kenny Alexander, £45m in share options since 2016. - Observer

The new owner of Homebase is preparing to inject up to £75 million into the business as part of rescue plans after the struggling DIY store was sold at a massive loss, sources said. Australian firm Wesfarmers agreed to sell the chain to restructuring specialist Hilco Capital for £1 on Friday amid speculation the retailer may need to close stores. - Mail on Sunday

The fate of a £15bn-plus nuclear power station is set to be decided this week — and with it the future of Britain’s atomic renaissance. The Japanese industrial giant Hitachi is due to decide tomorrow whether to proceed with Horizon, a twin-reactor plant on Anglesey, north Wales. - The Sunday Times

A first fall in profits in five years at troubled transport company FirstGroup is expected to turn up the heat on under-fire boss Tim O’Toole. Investors have voiced their concerns over FirstGroup’s recent decision to reject two bids from private equity firm Apollo and industry insiders believe that a cash injection could be required to solve a catalogue of problems at the heavily indebted FTSE 250 business. - Sunday Telegraph

Eurotunnel has issued a stark warning that UK businesses and consumers will face serious economic costs if the government adopts either of the post-Brexit customs models being considered by Theresa May’s government. The intervention by the Channel tunnel operator, coupled with a claim by the company that the necessary technology to prevent delays at the borders may not be ready until several years after Brexit, will add to growing pressure on Theresa May to face down hardline Brexiters by keeping the UK inside the EU customs union. - Observer

Private hospitals operator Spire Healthcare may face a fresh takeover attempt from its largest shareholder, sources said. FTSE 100 group Mediclinic, which already owns nearly 30% of Spire, had a £1.2 billion cash and shares offer rebuffed in November. - Mail on Sunday

The owner of Clydesdale and Yorkshire banks is expected to raise its offer for Virgin Money within days in a move likely to create Britain’s biggest challenger bank. CYBG approached Virgin earlier this month about a takeover that would create a bank with assets of about £70bn and more than 6m customers. - The Sunday Times

Oleg Deripaska has resigned from the board of Rusal with immediate effect, one day after the chief executive and seven directors of the aluminium producer quit. Mr Deripaska, who had already indicated his intention not to stand for re-election to the board, owns 48pc of the company. Both he and Rusal are under economic sanctions imposed by the US. - Sunday Telegraph

The City watchdog is facing mounting pressure to extend its cap on payday lending fees and interest to a broader range of high-cost financial products before a major review of lending practices this week. Debt charities and politicians are urging the Financial Conduct Authority (FCA) to take decisive action on Thursday when it publishes the findings of an 18-month review into bank overdrafts, doorstep loans, catalogue credit and rent-to-own borrowing. - Observer

Controversial mining rainmaker Ian Hannam is lining up investors to fund a £1 billion mineral project that could help secure Greenland’s independence. His investment firm Hannam & Partners is advising Aim-listed Bluejay Mining which plans to raise £57 million to develop its Dundas mineral project in northern Greenland. - Mail on Sunday

Sir Richard Branson has predicted that short-haul flights will be driven to extinction by the advance of hyperloop technologies — a system of vacuum tubes containing levitating pods that could travel at up to 1,000 miles an hour. Last year, the 67-year-old billionaire led an $85m investment round in Hyperloop One, an American start-up that has since been rebranded under the Virgin moniker. Branson claims the system could be carrying its first commercial passengers in India within three to four years. - The Sunday Times

AstraZeneca’s new oncology drug Imfinzi has had further success after clinical trials showed it helps lung cancer patients live longer. The good news follows a trial in May last year in which people with the inoperable stage III non-small cell lung cancer lived on average 16.8 months without their disease worsening (known as "progression-free survival" in the industry) compared with 5.6 months for those on the placebo. - Sunday Telegraph

Without much fuss or fanfare, but, happily, with plenty of shoppers, Salisbury quietly reopened its central shopping centre on Saturday, almost three months after it became the site of an international incident. The Maltings, which connects the coach park to the city centre, has been off-limits to the public and shielded by safety cordons and tents since the former spy Sergei Skripal and his daughter Yulia were found slumped on one of its park benches after being poisoned. - Observer

Virgin Media has been overcharging customers early termination fees on contracts for its broadband, phone and telephone services, Ofcom has provisionally concluded. The watchdog launched a formal investigation into the telecoms giant last summer into the fairness of its terms and conditions - specifically its charges for ending a contract early - after receiving scores of complaints from customers. - Mail on Sunday