Papers

Gordon Brown's efforts to right the listing UK economy have been dealt a blow by business leaders issuing a stinging rebuke of his leadership and economists predicting a "sea change" that would see economic growth nearly halve this year, The Independent...

Royal Bank of Scotland, Britain's second biggest bank, is considering launching a multi billion-pound cash call on its shareholders to shore up its balance sheet, in a move that may prompt similar action by its rivals, The Guardian reports.

The Treasury is set to give the go-ahead for a Government-backed plan to help mortgage companies start lending again in the wake of the credit crunch, The Telegraph reports.

Mortgage lenders are to be told to pass on interest-rate cuts to their customers in return for easier and longer loans from the Bank of England as it tries to restore order to the housing market, The Times has learnt.

The Bank of England's Monetary Policy Committee faces one of its most difficult decisions over interest rates today, as calls grow for a cut to kick-start lending, despite inflationary pressures, The Telegraph reports.

The big squeeze on household credit is hurting Britain's army of personal financial advisers, who face a sharp downturn in revenues as lenders withdraw products and close the door to new customers, The Times reports.

The Bank of England is now odds-on to cut interest rates next week, experts said, after new figures indicated that the economy is at its weakest in five years and that the mortgage drought is set to worsen, The Telegraph reports.

Northern Rock's former chief executive, Adam Applegarth, will be entitled to receive monthly payments of about £63,330 over the next 12 months as part of a severance package from the mortgage lender, despite the lender being taken into government ownership...

Alistair Darling is to give Britain's financial watchdog new powers to clean up the City by adopting a US-style whistle-blower system that will grant immunity from prosecution in return for evidence about market manipulation, The Guardian reports.

The Financial Services Authority will tomorrow admit to a catalogue of errors in its handling of the Northern Rock crisis, The Telegraph reports.