What The Sunday Papers Said
Monday 17 December 2012
MoD supply reform hits problems
Defence Secretary Philip Hammond's plans to reform the £14bn agency supplying the armed forces is under threat as advisers struggle to prove that, in effect, privatising the division – it would be run by a contractor under the plans – is value for money. Whitehall sources cite the failure of G4S to provide enough security at the Olympics and problems over rail privatisation as reason for caution.
Oil-trading giant plots £3bn float
Secretive Swiss oil trader Trafigura is set to float part of its vast empire on the London Stock Exchange with the £3 billion listing of its Puma Energy subsidiary. Puma is 65 per cent owned by Trafigura, which sold a 20 per cent stake last year to Sonangol, Angola's state oil company. The fast-growing business is focused on refining, transporting and selling petrol mainly in the developing world.
Auction of 4G could fall short by billions
Chancellor George Osborne could face a big hole in the public finances after regulator Ofcom set a reserve price of £1.2bn on the sale of 4G mobile spectrum. According to estimates from the Office for Budget Responsibility, the auction of the spectrum should fetch £3.5bn, but the fiscal watchdog has not talked to the Treasury or the regulator about how much the auction is likely to raise.
Banks face fresh split threat as parliament eyes fresh laws
Banks face being broken up if they do not improve. The Parliamentary Commission on Banking Standards will consider the "nuclear option" of splitting retail and investment banks if ring-fencing proves inadequate. It publishes its report on the Bank Reform Bill this week. Commission member and former chancellor Lord Lawson of Blaby is in favour of full separation.
- 1 California man brutally beat 82-year-old Sikh grandfather he mistook for 'one of those people'
- 3 School kitchen manager 'fired from Colorado school for giving hungry students free lunches'
- 5 Charles Kennedy 'had better judgement drunk than many sober politicians' says Ian Hislop
California man brutally beat 82-year-old Sikh grandfather he mistook for 'one of those people'
Amber Peat: Body found in search for missing 13-year-old who left house after argument with her parents
School kitchen manager 'fired from Colorado school for giving hungry students free lunches'
Alton Towers closed after horror crash on The Smiler raises safety questions for theme park
Alton Towers crash: Four guests seriously injured as Smiler ride carriages collide
Thousands of teenage girls enduring debilitating illnesses after routine school cancer vaccination
Migrants in Kos: Photos show real tragedy after Brits abroad complain of 'awkward' holidays
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
Michael Gove determined to scrap the Human Rights Act – even if Scotland retains it
Threat to scrap Human Rights Act could see UK follow Nazi example, warns UN official
Church of England 'one generation away from extinction' after dramatic loss of followers
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