Sunday newspaper round-up: RBS, Hinkley Point C, Sky

Royal Bank of Scotland is to cut 443 jobs in Britain as the bank moves its team that arranges loans for small businesses to India. The taxpayer-controlled bank said that the roles would transfer to Mumbai, to be included in the group’s growing team there, as part of a restructuring designed to cut costs, first reported in the Mail on Sunday. - Guardian on Sunday

EDF is bracing for a multi-billion euro rise in costs at its Hinkley Point C nuclear site after a fresh evaluation of the project revealed yet another likely delay. An internal review of the troubled project by senior executives at EDF’s French headquarters is expected to confirm fears that the state-backed energy giant will not be able to deliver Hinkley on time or in line with its £18bn budget. The French newspaper Le Monde reported over the weekend that sources close to the review have said no one believes it can be delivered by 2025. - The Sunday Teleraph

Rupert Murdoch is about to learn whether the government has cleared his latest bid to buy Sky or whether concerns about competition could yet derail the deal. The culture secretary, Karen Bradley, will this week deliver her verdict on whether to greenlight 21st Century Fox’s proposed £11.7bn takeover of the satellite broadcaster, or refer the deal to the competition authorities for further scrutiny. - Guardian on Sunday

Britain faces three years of recession, thousands of company failures and a £66 billion-a-year slump in exports if it suffers a cliff-edge exit from the European Union, according to a leading insurer. The forecast predicts that without a transitional deal in 2019 to keep Britain temporarily in the EU, 3,300 more firms will go bust, the pound will be worth less than the euro, and the economy will shrink 1.2%, staying in recession until 2021. The doom-laden view comes from the world’s biggest trade insurer Euler Hermes, part of global insurance giant Allianz. - Mail on Sunday

Fuel prices have fallen to the lowest levels this year and are set to slide still further as the cost of oil continues to plummet. Official figures show petrol has fallen on average to 115.12p a litre and diesel to 117.18p, down from a high of 120p and 123p respectively in February. The change reflects the fall in the price of a barrel of Brent crude, the international benchmark for oil, from $57 (£44) a barrel in February to $45 at the end of last week. - Mail on Sunday

The international body that represents central banks said a recovery in global trade this year and improving levels of GDP in most countries could create complacency and convince policymakers to ignore warning signs of excessive lending coming from the financial sector. With only two weeks until the G20 summit of world leaders in Hamburg, the Bank of International Settlements (BIS) said politicians and central banks needed to keep financial markets in check to prevent another crash. - Guardian on Sunday

Reports that Nicola Sturgeon is to put plans for a second independence referendum on hold to instead focus on delivering a soft Brexit are entirely speculative, a spokesman has insisted. The First Minister had set the timetable of a second ballot on Scotland’s place in the UK being held between autumn 2018 and spring 2019 when she announced her plans in March. But in the wake of the general election, in which the SNP saw its share of the vote fall from 50% to 37% as the party lost 21 Westminster seats, she has been reflecting on that position. - Scotsman on Sunday

Turkey’s president has described as disrespectful a demand by Saudi Arabia and its allies that it withdraw its troops from Qatar as a step towards ending a deepening dispute with the besieged Gulf state. Two days after the demand was made, Recep Tayyip Erdoğan instead reiterated his support for Qatar and described the 13 demands levelled at the Gulf country as preconditions to restore relations as being “against international law”. - Guardian on Sunday