News digest 26 July 2011
All papers cover the latest developments
after the Norwegian massacre. The other main story of the day is
Osborne’s economic excuses as growth almost grinds to a halt and
Dave’s happiness index looks like a real waste of money. Cameron is
dropped in it over Bombardier, Lansley’s letter lets the truth out
while Cable wants to be tough on banking but offers no help for
finance workers. Away from the economy and even though Ryanair sees
more passengers Michael O’ Leary can’t resist an argument,
Blackberry has some bother and Osborne speaks out on hacking while
Hague heralds another government U-turn, this time on
Gaddafi…
Norway mourns – More than
150,000 people took to the streets of Oslo to remember the victims
of mass murderer Anders Behring Breivik who yesterday appeared in
court and admitted responsibility for the twin attacks on Friday
that killed 76 people (Mirror p8-11, Sun p10-13, Express p4-5, Mail p1/4-7, Times p6-9, Indie p1-6, Guardian p1/4-7, Telegraph p1/12-13, FT p6-7, Morning Star p2).
Economy and excuses – Back in
the UK and growth figures out this morning show that the economy
grew by just 0.2 per cent. Chancellor Osborne blamed the rest of
the world for the faltering economy and still refuses to ever
consider a ‘Plan B’ instead remaining wedded to his ideologically
driven cuts. The Telegraph (p1) splashes on a rift
between the prime minister and chancellor over the growth figures,
as Cameron ruled out the prospect of tax cuts aired by Osborne.
Commenting on the meagre growth figures Unite general secretary Len
McCluskey said: “It is complacent of ministers to blame
global economic problems for the bad figures. What we need to
remember is that Britain stayed out the eurozone to give it more
freedom of economic action – many of the problems we face are
home-grown and can be laid directly at the door of George
Osborne.” (Mirror p6, Sun p2, Express p2, Mail p12, Times p3, Indie p13, Guardian p1, Telegraph b1, FT p2, Morning Star p, Unite
release)
Happiness index a waste of
money – And if David Cameron was looking for an
alternative upbeat message his ‘happiness index’ measure of the
economy has been slated after responses to some initial questions
were released. Five months in the government has been told that
people’s happiness would improve with ‘better quality pies and chip
butties’ or with ‘something half decent on TV’; the survey is
costing the government £2 million a year (Express p2, Mail p4, Indie p13, Guardian p14).
Dave could have done
something – Still with Cameron and transport minister
Theresa Villiers lays the blame for Bombardier losing the
Thameslink contract at the feet of the prime minister after a
written answer that said the carriage order was included in the
treasury’s cost cutting ‘major project review’ meaning the
government had the option to change the terms of the contract. And
possibly a sign of the government’s new excuse; some of the papers
mention that it could be sued by Siemens if it changes the terms of
the deal and instead awards it to Bombardier (Mirror p14, Express p15, Mail p67).
Lansley’s could have done
something – Many of the papers follow up on the health
secretary’s misgivings about the coalition’s unrealistic plans for
reform of public sector pensions as a range of public sector union
leaders say the leaked letter mirrors what unions have been saying
for months (Mirror p26,
Sun p2, Mail p17, Morning Star p3).
Heart tsar attacks Lansley –
The Indie (p1/10)
reports Sir Roger Boyle - who retired as the government’s national
director of heart disease at the weekend - slated the government’s
health plans saying “if the market was going to work,
the Americans would have cracked it.”
Cable’s call to revamp
banking – Business secretary Vince Cable to announce that
the banking system needs to be ‘radically overhauled’ as he accuses
banks of making ‘excess profits’; how come there’s no mention of
all the jobs that have gone in the sector? (Mirror p20, Mail p12, Guardian p23)
Broken Egg – Up to 600 jobs
are at risk at internet bank Egg after Yorkshire Building Society
agreed to take over Egg’s mortgage and savings accounts, but not
the 600 Derby-based workforce (Mirror p48, Sun p39, Express p44, Mail p66, Times p36, Indie p36, Guardian p24, Telegraph b4, FT p13/15, Morning Star p5).
Bank shares tumble – Nearly
£54 billion wiped off banking shares amid growing fears over the US
and eurozone debt crisis (Mail p66).
No US debt deal yet – And
ratcheting up pressure on the Republicans trying to block any deal
on the deficit president Obama has said they could be responsible
for the US losing its AAA rating. Discussions on a deal on US debt
are deadlocked, it will probably all be down to who blinks first
(Sun p8, Mail p2, Times p31, Indie p25, Guardian p22, Telegraph p17, FT p1, Morning Star p6).
Gold and other commodities
soar – The Express
(p44) report on the continuing rise in gold which hit $1,624
yesterday, commodity prices continue to rise as concerns over the
global economy mount while the Guardian (p25) looks at some
alternatives to invest in including the Swiss franc, fine wine and
art.
Ryanair to sue BAA – Not so
much soaring as fuming as the budget airline is angry over rising
fees for landing and parking at Stansted airport, and you would’ve
thought Michael O’Leary would welcome all the extra charges don’t
they say imitation is the sincerest form of flattery. The airline
has already raised prices by 11 per cent this year, but expects a
further rise of 12 per cent by the end of the year due to higher
oil prices. Last quarter revenues rose by 29 per cent to £1.02
billion as passenger numbers reached three million (Mirror p48, Sun p39, Express p45, Mail p69, Times p35, Indie p34, Telegraph b3, FT p15).
Devolving air duty – But
airport taxes could be lower if you live in Scotland, Wales or
Northern Ireland as the government is considering plans to overhaul
air passenger duty allowing the local administration to set rates
(Telegraph p8).
Zeppelin buys Hansen – German
company that brought the world the Zeppelin airship has bought
world’s largest wind turbine gearbox maker Hansen Transmissions for
£445 million (Times
p37, Telegraph b2).
Hotel staff demand decent living
wage – And Unite is calling for all those flying in for
the Olympics to think about hotel workers who are demonstrating at
Trafalgar Square at 6pm today in support of their claim for a
London living wage (Morning Star p3, Unite
release).
Blackberry bother – From low
pay to losing jobs and the smartphone maker under pressure from the
iPhone and Android powered smartphones announces it will cut 2,000
jobs world-wide as well as reshuffle its management (Times p35, Indie p34, Guardian p22, Telegraph b3, FT p16, Morning Star p7).
Osborne regrets over Coulson
– Hacking continues to feature in many papers with Osborne facing
some pressure over his role in hiring Andy Coulson and a new poll
shows that a majority want Murdoch to be forced out of BSkyB
altogether (Mail p18,
Indie p1/8-9, Guardian p9, Telegraph p4, FT p3).
Removing rights – And the
Morning Star (p1)
follows up on a concerted attack on the CBI’s latest attempts to
undermine employment rights by allowing loopholes into the
regulations which effectively turn them into watered down
guidelines while the Mail
(p12) states that the coalition is piling on more rules and
regulations.
Removing Gadaffi – And after
four months of air strikes, millions of pounds and countless deaths
and damage foreign secretary William Hague says Britain is now
ready to allow Colonel Muammar Gaddafi to live out his days in
Libya. At this rate the government will have done so many U-turns
it no longer knows which way it is going (Express p10, Times p1/13, Indie p14, Guardian p8, Telegraph p14).
Edited by Mik
Sabiers
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