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Sunday Papers: Osborne in last-ditch talks to split top banks

And RBS chairman Sir Philip Hampton has privately pledged that Stephen Hester will stay in charge well into 2014.

Sunday Papers: Osborne in last-ditch talks to split top banks

Top stories

  • The Sunday Telegraph: George Osborne is locked in last-ditch negotiations this weekend over plans for new powers to split up Britain's leading banks if proposals to "ring-fence" retail and investment divisions are deemed not to have worked.
  • The Independent on Sunday: Royal Bank of Scotland chairman Sir Philip Hampton has moved to calm investor fears over chief executive Stephen Hester's future, privately pledging that the 52-year-old will stay in charge well into 2014.
  • The Sunday Telegraph: Antonio Horta-Osorio, the chief executive of Lloyds Banking Group, has written to the Justice Secretary demanding the ballooning costs of false payment protection insurance claims are shared by the claims management companies that are often behind them.
  • The Sunday Telegraph: The Royal Bank of Scotland plans to float the 316 branches it failed to sell to Santander after a lack of strong interest from trade bidders.

Business and economics

  • The Sunday Telegraph: Prudential chief Tidjane Thiam has warned incoming Bank of England Governor, Mark Carney, that Britain is at risk of fresh financial turmoil unless Mr Carney halts quantitative easing.
  • The Independent on Sunday: Sports Direct will step up its challenge to Decathlon's European dominance when it opens its first Spanish store in April.
  • The Sunday Telegraph: BP is expected to report a 22% fall in underlying profits this week as its fourth-quarter earnings suffer from the ending of the Russian joint venture TNK-BP.
  • The Sunday Telegraph: The Spanish Prime Minister Mariano Rajoy has issued a televised denial or corruption allegations that are threatening to engulf his government and destablise the eurozone.
  • The Sunday Telegraph: Chancellor George Osborne has insisted that any fines imposed on the Royal Bank of Scotland over the Libor scandal must be met from bankers' bonuses.

Share tips, comment and bids

  • The Sunday Telegraph: WM Morrison Supermarkets has bought a collection of Jessops stores as it steps up its fightback following a slump in Christmas sales.
  • The Sunday Telegraph: The new Governor of the Bank of England arrives in the UK this week. He should take care not to upstage the resident of Number 11.
  • The Sunday Telegraph (Comment): As markets bet against the pound, 2013 could be a tipping point for the currency.
  • The Sunday Telegraph (Comment): History shows currency disputes can escalate from rhetorical spats into disastrously counter-productive economic conflict.
  • The Observer (Editorial): The growing wealth gap is unsustainable - the ever-increasing many who are struggling cannot support a structure that favours a tiny number of the very rich.
  • The Observer: Brewer SABMiller is just one of the consumer goods giants accused of using tax treaties in the Netherlands to shift profits around the world and avoid millions in tax.
  • The Independent on Sunday (Comment): If Jenkins wants our trust, he needs to say sorry.
  • The Independent on Sunday (Comment): For economies in the so-called advanced world the challenge is to adapt and thrive.

6 comments so far. Why not have your say?

Mike R

Feb 03, 2013 at 10:42

The Sunday Telegraph: The new Governor of the Bank of England arrives in the UK this week. He should take care not to upstage the resident of Number 11.

The Sunday Telegraph (Comment): As markets bet against the pound, 2013 could be a tipping point for the currency.

Can the Uk Govt. urgently bring forward the installation of the new Governor -- please.

Before the speculators feed the credit agencies as well as betting against the pound. Too much now at stake in the |UK economy. And a weak pound may be considered to help exports ?? -- it also has its disadvantages. No UK safe haven-- increased fuel energy costs. But entrenched views and political mis - judgements /incompetence are taking their toll of UK plc.

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Peter Dawson

Feb 03, 2013 at 11:58

No bids, no tips, why not delete these from headings in future? The third section could be better accomodated in the second.

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joe stalin

Feb 03, 2013 at 13:03

ah yes our Orwellian Chancellor. It is truly scary that somebody with so little insight can have clawed his way into aposition where he can do so much damage.

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Ian Holmes

Feb 03, 2013 at 14:53

joe................... the one before him and especially Mr McBrown, the one before that, did a lot more damage.

The problem for the current incumbent is to minimise the effect. Not an enviable job!. He's welcome to it! If you have a little more insight and lack of Orwellianism, perhaps you could claw your way into conveying this to Mr Osborne on behalf of all us hapless UK citizens. We would be eternally grateful and a little less scared about the potential damage.

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Feb 03, 2013 at 17:07

Ian, spot on, but the economic knowledge of cyclops could easily be written on the sharp end of a pin. The real architect was Balls, and he is still trying to peddle his vision and economics, the ones that got us into this mess, to the public. How he ever got an economic degree is beyond me. Mind you good at personal finances and how to fiddle expenses to his betterment. Mind you siliband allows him to do this, and that gives you a fair idea of his economic savvy (near or minus nil), even though he allegedly read the subject at uni.

Sorry to say Osborne is a financial pygmy. No, that cannot be right, they are infinitely superior, and Cameron is much too absorbed in corrupting and redefining the word 'marriage' when he should be doing something about the rotten economy he inherited from the students of Mugabe. Cameron is fiddling around the edges whilst the UK is burning, ergo unfit for his office.

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joe stalin

Feb 04, 2013 at 08:36

Oh sure I have no problems with that at all the Blair Brown Government should go down as one of the most damaging in history. Blair knew what was coming so he made sure gordo REALLY WANTED THE TOP JOB BEFORE giving him the hospital pass. Now I would contend that this corrupt adminstration would not havce been able to pull half of what they did without a massive contribution from the financial sector. Whe the American investment banks and the rating agency chums came up with their fraudulent money for nothing scheme and rolled it out globally and investors screaming for returns our banks were conned jus like many others. The rest we all know yhe BOE and FSA panicked and refused to improve liquidity leaving the banks out to dry and then coercing Lloyds to take on HBOS ie take one for the team. Now fancy Gordo was credited with saving our financial system ( with a bit of help from Alistair) My issue tis that the currnet crop of overpaid and underqualified muppets have just made matter much much worse then they might have been with their idiotic politically motivated crusade. Rightly put they shoud spending less time and effort on appeasing a very small percentage of the population who almost certainly do not account for the majority of our country's tax income

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