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.
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- 3 Artist takes LSD, draws herself over different stages of the 9-hour trip to show its effects
- 4 A pint of water every day is the key to losing weight, scientists say
- 5 Russia 'accidentally reveals' number of its soldiers killed in eastern Ukraine
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Video of Irish 'professional boxer' fighting Istanbul neighbourhood goes viral in Turkey
Irish tourist filmed fighting with shopkeepers in Turkey says 'they messed with the wrong man'
House of Lords: Outcry as donors, fixers and MPs caught up in expenses scandal are handed peerages
Moody neurotics are more likely to be creative geniuses, study says
Dresden riots: Protesters in Germany attack refugee buses shouting 'foreigners out'
France train shooting: US soldiers speak of the moment they stopped gunman and 'beat him until he was unconscious'
Labour leadership: Jeremy Corbyn accused of 'deluding' young supporters with 'claptrap'
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith calls for urgent ESA overhaul as part of drive to cut down welfare costs
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