Sunday newspaper round-up: WPP, railways, Homebase, Citigroup, Credit Suisse, pay equality
WPP is under mounting pressure from shareholders to offload its £3.5bn market research division as part of a sweeping overhaul of the advertising giant. The FTSE 100 stalwart was thrown into turmoil last week after admitting that it had placed its chief executive, Sir Martin Sorrell, under investigation for alleged personal misconduct. - The Sunday Times
Britain’s rail system is braced for a new wave of anger from politicians and the public after it emerged that operators owned by European governments are lining up to bid for more franchises. The Government has granted bidding rights to a trio of continental train companies from countries where foreign operators are frozen out. - Sunday Telegraph
The chairman of the Australian owners of Homebase is flying to the UK for a whistlestop tour of its stores this week as the future of the struggling DIY chain hangs in the balance. The Wesfarmers chairman, Michael Chaney, is being accompanied on store visits by Archie Norman, the retail turnaround expert who chairs Marks & Spencer and advises the Australian group. - Observer
Punishment for car thieves is far too lenient, according to new research. Of the 7,405 criminals prosecuted for theft of a motor vehicle in England and Wales between 2012 and 2016, just 20 per cent were handed custodial sentences, with the average length of 21 months. - Mail on Sunday
Investment banks including Citigroup and Credit Suisse could be hit by the fallout from the US government’s unprecedented decision to slap sanctions on Oleg Deripaska and six other oligarchs for “advancing Russia’s malign activities”. Donald Trump’s administration announced the blacklisting of seven Russian businessmen on Friday, along with 12 of their companies and 17 senior government officials. - The Sunday Times
Parliamentary authorities are to outsource complaint and whistle-blowing processes for the staff of MPs and peers after widespread bullying was revealed in Westminster. An initial tender notice for a contract has been circulated, data company Trussell found, and although the contract has not yet been given a value, Parliament’s accounting officer David Natzler estimated in a memo earlier this year that such a move could cost the taxpayer up to £500,000 annually. - Sunday Telegraph
The living rooms of newly built homes in Britain are nearly a third smaller than equivalent homes built in the 1970s, according to research that charts how living space has shrunk to levels last seen 80 years ago. The research, by LABC Warranty, which provides warranties for new-build homes, found the average living room in a house built since 2010 was 17.1 square metres (184 sq ft), compared with 24.9 sq m (268 sq ft) in the 1970s, a 32% contraction. - Observer
When firms are set up by women, for women, you might expect them to avoid the gender pay gap that bedevils British business. But even at female-oriented firms, men come out on top. Among those with gender pay gaps of more than 50 per cent are popular women's brands Sweaty Betty, Space NK and Body Shop. - Mail on Sunday
The CBI has demanded an urgent review of the government’s apprenticeship levy, which it has blasted as “not fit for purpose”. The lobby group said the levy was not encouraging businesses to take on apprentices. It warned that politicians had six to nine months to turn round the scheme before it was written off as another tax on business. - The Sunday Times
Facebook and YouTube have been given the cold shoulder by the industry body that measures television audiences, a blow to their attempts to lure advertisers away from traditional broadcasters. The Broadcasters Audience Research Board (BARB), which measures viewing across channels and online video services, said the internet giants were unable to guarantee reliable viewing figures or that adverts would not appear next to offensive videos. - Sunday Telegraph
Three decades after penning hit single , singer-songwriter and left wing activist Billy Bragg has been invited by the Bank of England to lecture City financiers about how to build a better society. The pro-Corbyn protester who formed a punk band in 1977 and gigged for striking miners in the 1980s will give a speech next week at Threadneedle Street. - Observer
John Lewis has been bombarded by complaints from irate shoppers after a customer service meltdown at its home furnishings division. The department store group announced in February last year a major restructuring of the division, which includes carpets, curtains and flooring. - Mail on Sunday
Mothercare is considering closing loss-making stores and slashing rents as it tries to survive brutal trading conditions on the high street. The maternity products retailer, which parted ways with its chief executive of four years last week, is understood to be exploring an insolvency process known as a company voluntary arrangement (CVA). - The Sunday Times
Rathbone Brothers and Permira are preparing a bidding war for the Scottish stockbroker Speirs & Jeffrey in a takeover battle due to net the Glaswegian firm’s partners a multi-million pound jackpot. Wealth manager Rathbones and private equity business Permira are interested in an estimated £200m sale for the 112-year-old business, sources told The Telegraph. - Sunday Telegraph
The world’s richest 1% are on course to control as much as two-thirds of the world’s wealth by 2030, according to a shocking analysis that has lead to a cross-party call for action. World leaders are being warned that the continued accumulation of wealth at the top will fuel growing distrust and anger over the coming decade unless action is taken to restore the balance. - Observer