WHAT THE OTHER PAPERS SAY THIS MORNING
THE SUNDAYS
The Sunday Telegraph
BA CHIEF SNUBS SELECT COMMITTEE
Willie Walsh, chief executive of British Airways, has refused to go before the House of Commons transport committee to give evidence on the future of aviation. The hearing, os scheduled for Wednesday next week – coincidentally the first day of the month that Walsh will work without pay while he attempts to turn the struggling flag carrier around.
MORE ‘GREY PANTHERS’ ON PROWL AT FSA
The Financial Services Authority has been bulking up on City experience in the wake of the banking crisis by adding to its group of experts known within as “grey panthers”. Panthers tend to be established industry figures who want to fulfil a public service role either during or at the end of a successful career.
THE SUNDAY TIMES
TOP TELECOMS BOSSES ATTACK PHONE LEVY PROPOSAL
Two of Britain’s biggest telecoms bosses have this weekend come out against the government’s proposed £6-a-year levy on telephone lines, labelling it as an unfair “poll tax” that marks a backwards step for their industry.
ZIMBABWE WOOS BOSSES IN RECONSTRUCTION DRIVE
British business leaderes are hoping to play a part in the reconstruction of Zimbabwe after a meeting in London yesterday with Morgan Tsvangirai, prime minister of the troubled African nation.
Tsvangirai spoke to a group of top businessmen at the meeting, including Sir Martin Sorrell, chief executive of the advertising and media group WPP, and Sir Richard Branson of Virgin.
TODAY
FINANCIAL TIMES
VALUE RANGE BOOSTS WAITROSE
The supermarket, famed for its emphasis on quality, introduced cheaper lines under the “essential Waitrose” brand in March to counter perceptions that it was more expensive than rivals on everyday item. Managing director Mark Price said purchases of the first 800 products in the essential range now accounted for 13 per cent of sales, ahead of expectations.
US IN WEB CENSORSHIP COMPLAINT TO CHINA
The US has complained officially to China about its strict new internet censorship rules censorship rules as tension builds over an issue causing consternation among international technology companies and Chinese internet users. The development is a rare direct intervention.
The Daily Telegraph
MORE SENIOR DEPARTURES AT DTZ
A further six fee earners have left DTZ, the beleaguered property agents – including leading investment agent, John Slade. The senior departures are a further blow to the troubled agency and Paul Idzik, the group’s controversial chief executive. Idzik has embarked on a deep cost-cutting programme since his appointment as chief executive last year. Slade is believed to have been one of DTZ’s top five earners last year.
YELL CHIEF JOHN CONDRON GIVES UP £1M BONUS AFTER JOB CUTS
John Condron, the chief executive of Yell, has waived a bonus of almost £1m after the directories group announced a programme of 1,300 job cuts last year. Condron, who oversaw Yell’s split from BT in 2001, was paid a salary of £885,000 for last year. He got a £935,000 bonus in 2007.
THE TIMES
GROCERS CREAM OFF PROFITS AS BUTTER MOUNTAIN GROWS
The butter mountain is back, after European Commission bosses spent €600m (£506m) of taxpayers’ money this year in an attempt to rescue farmers from the effects of a collapse in dairy product prices. The intervention came as wholesale prices of butter have plunged from $3,700 per tonne to $1,800 in the past year.
TYCOON SCOT YOUNG FACES JAIL IN £400M DIVORCE
A secretive tycoon at the centre of one of Britain’s biggest divorce cases is facing jail over the whereabouts of his £400m fortune. Scot Young, a “fixer” to Russian oligarchs and billionaires, has been told that he could be imprisoned for failing to tell a High Court judge where his money has gone. Young, 47, is a close friend of Sir Tom Hunter, the billionaire entrepreneur.