Papers

Tensions between the Treasury and the Bank of England mounted yesterday as Mervyn King, the Bank's Governor, abruptly dismissed measures being considered by Alistair Darling to end the mortgage drought, The Times reports.

Measures to revive the dormant housing market by increasing the supply of mortgage lending are being planned by ministers, The Times has learnt.

In what could be the biggest ever payday for a public company executive, Fortress Investment Group, the hedge fund manager which floated in New York last year, has given one of its star traders more than $300m (£157m) to stay at the firm, The Independent...

Britons are £600bn worse off than a year ago as the economy veers perilously close to recession, leading accountants have warned, The Telegraph reports.

Sterling has plunged to its lowest level in nearly 18 months against the dollar amid renewed fears about the health of the British economy and growing conviction that the next move in UK interest rates will be down, The Times reports.

Alistair Darling's lingering hopes for a rapid revival in the faltering economy next year were undercut yesterday as the International Monetary Fund reduced its forecasts for Britain's growth and sounded a warning that the country faces two years of economic...

Crispin Odey, a leading hedge fund manager known as one half of the "Posh and Becks" of the City, has paid himself £28m after his fund made £55m by betting against Britain's biggest banks, according to The Telegraph .

Royal Bank of Scotland will this week post the biggest loss in British banking history when it reveals that the £5.9bn of write-downs taken against its "toxic" credit market assets have pushed it about £1.3bn into the red for the six months to June, compared...

Alistair Darling must avoid at all costs the temptation to tamper with the Bank of England's inflation target, one of the members of the Monetary Policy Committee has warned, The Telegraph reports.

Alistair Darling should reject setting up an American-style mortgage agency as a way to give a long-term boost to the crippled housing market, according to Sir James Crosby, the former chairman of HBOS, The Times reports.