Sunday Headlines

Corporate

Morrisons staring down the barrel of a 2.8% decline in like for like sales over the Christmas period. The retailer is being hit by not offering food online, and its discount ranges being impacted by retailers such as Aldi. Short sellers have begun to focus on Morrisons in a clear sign investors think the company is struggling.

Personal Finance

A deal struck between the department of health and the Treasury means older people will have to foot the bill for the first £75,000 of care – more than double the £35,000 recommended by Andrew Dilnot in his report into care funding. The package will cost £700m, down from the £1.7bn the £35k cap would have cost. The limits do not include payments for accommodation or board, which could total £10,000 per year. Ros Altman of Saga warns that most people will never reach the cap.

Property

Former Welsh Secretary, Cheryl Gillan describes the HS2 scheme as “like a cancer.” The proposed route will run through her Buckinghamshire constituency, and she claims it will add to rail fares as the government attempts to pay for the £32bn. It also now seems likely the route will avoid George Osborne’s Tatton constituency, with the re-route costing £1bn.

Recruitment

The first private navy for 200 years is being created by Simon Murray, a millionaire former Legionnaire, to patrol the waters off the coast of Somalia. The force will consist of 240 former marines and sailors and will patrol with convoys, aiming to deter attacks.

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