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Thursday newspaper round-up: Diageo, Ryanair, Debenhams

Thu 08 August 2019 07:27 | A A A

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(Sharecast News) - Rebel MPs are working on a plan to thwart Boris Johnson pursuing a no-deal Brexit on 31 October that involves forcing parliament to sit through the autumn recess, amid growing outrage about the power and influence of his controversial aide, Dominic Cummings. The cross-party group of MPs is looking at legislative options with mounting urgency because of the hardline tactics of Cummings, who one Conservative insider described as running a "reign of terror" in No 10 aimed at achieving Brexit on 31 October at any cost. - Guardian

Diageo has bought the "game-changing" non-alcoholic spirit Seedlip, adding it to a drinks cupboard that includes Guinness and Johnnie Walker whisky. The drinks company bought 20% of Seedlip in 2016 through its Distill Ventures division, which invests in small businesses it believes have the potential to make a splash in the industry. - Guardian

The economic stakes are rising very fast for the EU as Brexit D-Day nears. European leaders must judge the risks of a showdown with Britain against a deepening global trade slump and an industrial recession that threatens to spread and overrun the monetary defences of the European Central Bank. To impose what amounts to a disciplinary trade blockade against the UK - and therefore to put at risk the EU's biggest market surplus (£95bn) - is to pile Mount Pelion upon Mount Ossa. - Telegraph

Ryanair pilots have piled fresh misery onto British holidaymakers by announcing industrial action as the public returns from their summer break. Pilots union BALPA authorised strikes on 22 and 23 August, and 2 September to 4 September, in a move that could see operations grind to a halt at the Irish airline's biggest single base and cause a fresh round of chaos for beleaguered Britons. - Telegraph

Boris Johnson's government needs to loosen regulations and automatically authorise tens of thousands of companies to trade with the European Union to minimise disruption in the event of a no-deal Brexit, industry leaders have warned. Businesses are in "real danger" of losing access to the EU unless ministers take "obvious" steps to avoid widespread disruption before the Brexit deadline on October 31, the Federation of Small Businesses said in a letter published in The Times today. - The Times

The executive chairman of Debenhams will step down next month as the owners of the department stores chain appoint a turnaround expert as its next chief executive. The retailer will say today that Terry Duddy, 63, will leave next month and that Stefaan Vansteenkiste, 55, a so-called "company doctor", will be appointed as the new chief executive, according to Sky News. Debenhams declined to comment last night. - The Times

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