Sunday newspaper round-up: Food prices, Modella Capital, Iran peace deal, Nigel Farage, White House shooting, Rachel Reeves, EU

(Sharecast News) - Food prices were expected to climb after ministers decided not to scrap the £2bn Extended Producer Responsibility packaging levy, The Times reported. Defra officials told industry leaders the scheme, which charges producers and online retailers for every item of packaging used, will remain in place, despite Bank of England estimates that it would add around 0.5% to food inflation. The paper said the decision comes as households already face higher supermarket bills linked to the US and Israel's conflict with Iran, with the cenntral bank warning inflation could reach 6.2% by early 2027 and food inflation as high as 7%.

Private equity group Modella Capital was said to be close to a deal to acquire Flying Tiger Copenhagen, adding roughly 900 global stores to its retail portfolio, according to The Times. Modella, which bought WH Smith's high‑street arm in 2025 and rebranded it TG Jones, was reportedly finalising terms with owners Danske Bank and Nordea. Flying Tiger, known for low‑priced Scandi‑style homeware and gifts, operates around 900 shops worldwide, including 80 in the UK, and generated DKK 5.2bn (£600m) in revenue in 2024.

Donald Trump said an agreement to end the war in Iran and reopen the Strait of Hormuz had "largely been negotiated", The Telegraph reported. The US president said he expected a peace deal to be announced shortly after calls with Gulf leaders and Israeli prime minister Benjamin Netanyahu. Iran also indicated it was finalising a memorandum of understanding that could extend the current ceasefire by 30 to 60 days.

Nigel Farage has pledged to abolish income tax on overtime for workers earning under £75,000 if Reform UK wins the next general election, according to The Telegraph. The £5bn‑a‑year policy, announced during the Makerfield by‑election campaign, would apply to hours worked beyond a 40‑hour week and was seen as a direct challenge to Andy Burnham, who was seeking to unseat Keir Starmer as Labour leader.

A gunman was shot dead after opening fire at a White House security checkpoint on Saturday, prompting a brief lockdown while Donald Trump was inside the building, The Guardian reported. A bystander was also struck during the exchange, though it remains unclear whether the injury came from the suspect's gunfire or return fire from officers. No Secret Service personnel were hurt, and officials said the president was unaffected.

Rachel Reeves has been lobbying to remain chancellor even if Labour replaces Keir Starmer later this year, with allies urging MPs to back her as internal positioning intensifies, The Guardian reported. The paper said Andy Burnham was viewed as a potential successor if he wins the Makerfield by‑election, with reports suggesting he could appoint Ed Miliband as chancellor - a move Reeves' supporters argue would unsettle bond markets.

The EU would be willing to fast‑track Britain's re‑entry if it chose to reverse Brexit, The Independent reported, citing Sandro Gozi, chair of the EU delegation to the EU‑UK Parliamentary Assembly. Gozi said a UK request to rejoin would be seen as a "major victory for the European project", with Brussels sources adding that the process could move far quicker than for other candidates due to the UK's existing regulatory alignment.

Thousands of holidaymakers faced gridlock and queues of up to four hours at the Port of Dover on Saturday as new EU border checks were introduced, The Independent reported. Passengers endured long waits both at border control and on surrounding roads, with traffic described as "total gridlock". More than 8,000 travellers were expected to pass through the port on its busiest day of the year so far.