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 Finland schools: Subjects scrapped and replaced with 'topics' as country reforms its education system
- 2 The West has it totally wrong on Lee Kuan Yew
- 3 #FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
- 4 Scientists have discovered a simple way to cook rice that dramatically cuts the calories
- 5 Zayn Malik quits One Direction: Hundreds of workers request compassionate leave following band member's exit
Germanwings captain Patrick Sondenheimer tried to break into locked cockpit door 'with an axe' as plane was descending
Amanda Knox murder conviction: Italian court overturns verdict for US student and Raffaele Sollecito in the killing of Meredith Kercher
Saudi Arabia says it won't rule out building nuclear weapons
The battle for the Middle East's future begins in Yemen as Saudi Arabia jumps into the abyss
#FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
Nigel Farage brands LGBT activists 'filth' and 'scum' and accuses them of scaring away his children after they invade his local pub
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Russia threatens Denmark with nuclear weapons if it tries to join Nato defence shield
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Germanwings plane crash live: Co-pilot Andreas Lubitz wanted to 'do something people would remember him for'
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