Checking the IPSO Editors' Code of Practice it seems this is a clear breach of Clause 1 Accuracy
So why did The Mail and The Sun print a story which The Times (owned by News UK as is The Sun) knew was factually incorrect? There is only one reason: it is yet another disgraceful attempt by the media to discredit the new leader of the Labour Party.i) The Press must take care not to publish inaccurate, misleading or distorted information, including pictures.ii) A significant inaccuracy, misleading statement or distortion once recognised must be corrected, promptly and with due prominence, and - where appropriate - an apology published. In cases involving the Regulator, prominence should be agreed with the Regulator in advance.
I would expect a correction with due prominence to be published along with an apology by both The Sun and The Mail! My feeling is that won't happen, but shame on them both if it does not!