What the Sunday papers said
Monday 30 July 2012
The Independent on Sunday: Banks face giant bill for IT upgrade after causing chaos
Britain's beleaguered banks must quickly inject billions of pounds into their creaking IT systems, on top of forking out for the many scandals that will continue to hit banking results this week. The warning from software firm Temenos comes after a computer meltdowns at NatWest and Nationwide that caused chaos for customers and hit the industry's reputation.
The Mail on Sunday: Rivals fear Tesco may push 'nuclear' price war button
Tesco's rivals and suppliers fear the supermarket giant may be planning a major price war if its recovery strategy does not work. The prospect that Tesco might be forced into dramatic action is being dubbed as its 'nuclear option' and rival chains are concerned about the impact.
The Sunday Telegraph: RBS's Irish arm takes £25m hit on interest-rate swaps debacle
Royal Bank of Scotland has forked out more than €30m (£25m) to a businessman who claimed he was mis-sold an interest rate swap by the bank. RBS's Irish subsidiary has agreed a settlement with David Agar that will see it write off swaps and loans worth €30m .
The Sunday Times: Britain heading for triple-dip recession next year
The UK economy could suffer a triple-dip recession next year after a brief recovery driven by the Olympic Games. Economists fear the Eurozone crisis will drag Britain back into recession next spring after a Greek exit early in 2013.
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
US Navy christens huge $3 billion destroyer ship USS Zumwalt that appears as a fishing boat on enemy radar
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
Refugee facing deportation from Sweden saved by fellow passengers refusing to let plane leave
- 1 Are you turning into your dad? The top ten signs you've embraced dad-ism revealed as survey says 38 is age men turn into their father
- 2 Overheard in Waitrose: documenting the chatter in 'Britain's poshest supermarket'
- 3 Video of British Muslims dancing to Pharrell Williams's hit Happy attacked as 'sinful'
- 4 24 people applied for the 'world's toughest job', here are their interviews
- 5 Grace Dent on TV: Game of Thrones has jumped the shark
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