The Independent on Sunday: Big four auditors face monopoly interrogation
The Big Four accountants face a grilling from the Competition Commission this week as the regulator's probe into the audit market looks at what actions might need to be taken against the firms. Representatives from Deloitte, Ernst & Young, PricewaterhouseCoopers and KPMG will defend their dominance in auditing major listed firms under intense questioning.
The Sunday Times: FSA calls banks' bluff on lending to small businesses
City watchdogs have thrown down the gauntlet to banks on lending, declaring that there is now no excuse for them not to support small businesses and homebuyers. Senior sources at the financial policy committee (FPC), the powerful new body that will oversee banking, said the recent policy changes meant that banks could no longer use tighter regulation as an excuse for rationing loans.
The Mail on Sunday: Minister promises to shame banks over loans crisis
The top high street banks will be named and shamed if they fail to increase lending to small and medium-sized businesses through the Government's flagship Enterprise Finance Guarantee Scheme. New Business Minister Michael Fallon has written to the bosses of the Big Five banks – Barclays, RBS, Lloyds, HSBC and Santander – to warn them.
The Sunday Telegraph: Discount retailer B&M in line for sale at £850m
B&M, Britain's fastest-growing retailer, has been put up for sale for £850m in a move that could catapult the three brothers behind the company to become one of the richest families in the UK. Simon, Bobby and Robin Arora bought B&M, a discount retailer, in 2005 when it was still a lossmaking business.