Papers

Tony Blair has refused to rule introducing means-testing of state pension benefits after being challenged to state his position by the Tories, reports The Daily Telegraph.

MG ROVER is in the spotlight in this morning's papers with reports the former directors have come under growing pressure over their role in its collapse, according to the Financial Times .

Equitable Life's legal action against former directors has been branded "grotesque" by lawyers representing those accused of mismanaging the company into its financial hole.

A political lull created by the funeral of the Pope and the second marriage of the Prince of Wales has been unbroken by a ‘joint' attack on Tory immigration policy and its party leader Michael Howard's launch of a manifesto.

UK corporate tax receipts could plummet after a statement from the European Court of Justice's advocate general suggests parts of UK tax law are illegal, possibly paving the way for greater harmonisation of tax law across the EU.

Britain's high-street banks are planning to radically speed up the time it takes for direct debits and standing orders to be transferred between accounts, after intervention by the Office of Fair Trading, reports the Guardian.

Standard Life is expected to appoint former Marks & Spencer finance director Alison Reed to a similar position in the next few days, The Daily Telegraph says.

THE MANAGEMENT crisis at Morgan Stanley has forced Standard & Poor's, the ratings agency, to lower its outlook on the investment bank's future performance adding to the pressure on Phil Purcell, the chief executive reports The Times .

ANDY HORNBY, the head of HBOS's retail banking arm, will receive shares worth up to £3.25m under a special "golden handcuffs" bonus scheme designed to stop him from joining retial chain Boots, reports The Times.

THE GUARDIAN this morning reports the test case ruling in favour of an Equitable Life policyholder who was badly advised by the company will open the door to payouts likely to run into millions.