Sunday newspaper round-up: Public sector pay, ITV, TSB

Public sector pay may be due for a rise, the Chancellor hinted on The Andrew Marr show. Sunak said that going forward a new pay policy would need to be set and that it would be a topic for next week's spending review. Public sector pay rises had been "paused" in 2021/22 expect in the NHS and for workers making less than £24,000. - Sunday Telegraph

Former Channel 4 boss, Lord Michael Grave, and ITV are among the potential suitors for the state-owned broadcaster. Lord Grade, who also chaired BBC and ITV, is now chairman at Miroma, the outfit that is owned and run by media entrepeneur Marc Boyan and which is running the ruler over Channel 4 alongside Rothschild. Credit Suisse and Robey Warshaw meanwhile are said to be advising ITV. - Sunday Times

Co-operative Bank has tabled a bid for TSB, feeding speculation that smaller banks in the UK might be set for a wave of mergers. However, the owner of TSB, Spain's Sabadell, rejected the bid, saying that: "This is not a transaction that we wish to explore at this moment." Sky News first reported the offer and said Co-op Bank was ready to offer over £1.0bn for its rival. - Sunday Times

The Prime Minister will refuse a compromise that would see the European Court of Justice continue to have a role in policing the Northern Ireland protocol. The news follows claims that Johnson might be prepared to accept a limited role for the ECJ in a bid to reach a new deal with Brussels over the protocol. - Sunday Telegraph

Chinese fast-fashion giant Shein is making use of tax perks to undercut some British online retailers, the Financial Mail on Sunday said citing a major report to which it had been given access. Despite having operated in Europe for under seven years, it was able to use its tax advantages to sell at a significant lower price than British rivals including Boohoo and Asos.

LV boss Mark Hartigan stands to make millions if he suceeds in selling the business to US private equity firm Bain Capital for £530m. He is also understood to be planning to remain as chief executive officer following a proposed controversial sale. He may also be given a stake in the firm. - Financial Mail on Sunday