The FT today carries a series of pieces on the effects of the WorldCom fallout, including the postpo...
The FT today carries a series of pieces on the effects of the WorldCom fallout, including the postponement of BT's Yell float and threats from the French government to renationalise France Telecom rather than let it go to the wall.
And in the US, the head of the Securities and Exchange Commission has brushed aside calls for his resignation, saying the weaknesses in the regulatory regime being exposed are the result of bad politics by former president Clinton.
A potentially market altering deal is being brokered by the EU regarding airline insurance, to provide long-term subsidies to the industry.
But the deal is fraught with argument from those EU members who fear it will open a pandora's box of state funded insurance schemes at a time when the EU is supposed to be cracking down on illegal government aid, the FT says.
In financial services, the FT focuses on Citigroup, which it says is suffering from lack of investor confidence, despite its ability to make large earnings in the current economic climate.
The Times notes that changes proposed by the Treasury as a result of Enron and WorldCom could see companies forced to switch accountants every seven years.
Accounting firms will also be prohibited from providing both accountancy and consultancy services to the same clients.
But this might not just result in benefits, The Times warns, as industry insiders already talk of competitors undercutting each others prices to attract new clients, resulting in below-par work being done.
Any mandatory switching of auditors is likely to be "fiercely resisted" The Times adds.
India could become the new place of work for thousands of Lloyds TSB staff according to weekend reports covered in The Scotsman.
Up to 8,000 of the company's 40,000 workforce involved in back office administration and processing could see their jobs moved offshore to cheaper countries - including 2,000 at Scottish Widows.
Despite improved risk appetite
FOS award limit increase
Relates to 136 million transaction reports
Ceremony will take place 13 November