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What the Papers SayBack

The Financial Times

SFO and regulator probe Quindell over ‘aggressive’ accounting practices

accounting

The Serious Fraud Office has launched an investigation into insurance company Quindell over “business and accounting practices”, with KPMG also facing an inquiry by the accountancy watchdog for its work as the company’s auditor

Whitehall’s digital chief quits unexpectedly

Departure deals blow to modernisation drive and is second big loss in week

(It might affect Government plans to cut costs by moving services online)

Companies and Markets

Investors braced for loss as Afren’s time runs out

Explorer defeated by crude price fall, governance abuses and a mountain of debt

Investors expecting to retrieve any value from their holdings in Afren, the scandal-hit oil explorer that entered administration last week, are likely to be sorely disappointed

Sterling traders braced for ‘Super Thursday’

Pound will register any change in rate rise expectations from the BoE’s first bumper release

Oil woes far from over as seasonal lull nears

Factors that support the price are about to be stripped away before production cuts are felt

The Times

Dairy farmers to blockade Morrisons

Dairy farmers are planning to blockade Morrisons’ distribution centres tonight in an escalating row over the low price they are paid for milk.

Tories to strangle unions by banning collection of fees

Ministers will launch a new assault on trade unions today by making it harder for teachers, nurses and BBC staff to continue paying their subscriptions.

Business

BP invests £670m ‘to secure North Sea fields for 15 years’

BP plans to pour an extra £670 million into ageing oilfields in the North Sea.

Engine of the economy slows

Activity in Britain’s services sector slipped last month and hiring slowed, raising questions about the pace of the recovery.

The sector, which includes banks, restaurants and retailers, accounts for three quarters of Britain’s output and has been the economy’s engine of growth.

Retailers attack ‘chaotic’ Sunday trading changes

Local councils could use new powers to relax Sunday trade laws to “pick off” retailers they don’t like and promote certain streets and developments to the detriment of others, a leading retail lobby group has claimed.

The Daily Telegraph

Church is rallying against the ‘Orwellian nightmare’ of relaxing Sunday trading laws

Churches have defiantly hit back against government pressure to relax Sunday trading laws, insisting it is a as much about protecting Sunday league football or the family Sunday lunch as religious services

The Daily Mail

Drink-drive mother hits 4 cars, flips over— and still avoids jail

(A woman driving four-times the drink-drive limit drove the wrong way up a one-way street damaging four parked cars, before flipping her own)

Posted by Lois Hardy on 06/08/2015