What the Sunday Papers said…
Monday 29 July 2013
The Independent on Sunday: Regulator accused of £110m error
The Big Four accountants have accused the Competition Commission of under-estimating the cost of sweeping reform of the audit market by as much as £110m, the newspaper reports. Last week the Commission said proposals to force FTSE 350 companies to change auditors every five years would cost £30m but a source at one of the UK’s leading accountants put the cost as high as £140m.
The Sunday Times: 18 more GSK staff detained in China
A further 18 people have been detained by Chinese police over the bribery scandal engulfing drugs giant Glaxo Smith Kline. Sources told the newspaper that the individuals had been detained several weeks ago but the move was only publicised on Friday. The company has been accused of a £300m scheme to bribe doctors to boost drug sales, although no charges have yet been brought against staff.
The Mail on Sunday: Banks face huge extra PPI payouts
Lloyds Banking Group will set aside another £250m to compensate customers mis-sold payment protection insurance in half-year results this week, according to the newspaper. Barclays is also expected to take a fresh £200m hit. The UK’s four biggest banks have racked up £13.2bn in provisions over the scandal so far and increased payouts in May to £420m, the Financial Conduct Authority says.
The Sunday Telegraph: McEwan leads race for top job
The Royal Bank of Scotland’s retail banking chief Ross McEwan is the leading contender to replace Stephen Hester as chief executive, the newspaper reports. The appointment of the New Zealand-born Mr McEwan – which has to be approved by the board, the City’s regulators and the body which manages the taxpayer’s 81 per cent stake in the bank – could be announced as early as Friday.
- 1 Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
- 2 A politically correct lefty goes to see Top Gear live – you'll probably believe what happened next
- 3 Young Preston fan has play-off hero Jermaine Beckford's shirt stolen from him at Wembley - which then appears for sale on Gumtree
- 4 Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
- 5 Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
Woman accidentally shoots herself in the head while posing for a selfie
How China's richest man Li Hejun lost $15bn in an hour - and made a fortune
Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
Snoop Dogg on why he doesn't regret displaying misogyny towards women
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
The day that Britain resigned as a global power
Almost a third of school pupils believe 'Muslims are taking over our country', study claims
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
Gay marriage 'Bert and Ernie' cake bakery found guilty of discrimination in Northern Ireland
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