News digest 25 November 2013

News digest 25 November 2013

25 November 2013

Today’s digest opens with yet more problems in the banking and finance sector. As many of the papers continue to rake over the fall-out over the Rev Flowers at the Co-op and try and embroil Labour in the process (the Mail’s headline sums up the right wing viewpoint: Tories label Ed pathetic as he fumes at Co-op ‘smears’ ), both RBS and Lloyds are also slammed in a report that looked into small business lending by major banks. The Guardian’s headline sums up that of many papers with ‘RBS accused of pushing small firms to the edge’ highlighting claims of how viable firms were driven to the wall so they could effectively have assets stripped. As ever it seems there are those that continue to be able to do whatever they want, although Labour is quoted in the Guardian as arguing for tougher checks on top bankers, Friday will be the key day for the Co-op bank as a series of crucial votes determine the direction of the bank and how to deal with its debt…

And talking of debt it looks like there will be another botched privatisation on the cards, namely the selling of assets on the cheap, although this is a debt oddly enough. Many of the papers report on the sale of the £890 million book of student loans owed to the government, the sale price, just £160 million, so much for value of the taxpayer, admittedly they were the more difficult loans to recover. Let’s just hope that the company adheres to the guidelines on the treatment of vulnerable borrowers and those in financial difficulty.

And from student loans to student fines, and the front page of the Morning Star highlights the ever increasing restrictions on legitimate protest as it highlights the story of Simon Furse and Hattie Craig who have been among protesters in Birmingham against the privatise of debt fearing interest rates could rocket. They were two students among a group of 30 that barricaded themselves in Birmingham university’s senate chamber, it now emerges that university bosses served an injunction on the protesters with the result that they face a fine of up to £25,000 and any that remain in the building will be forcibly removed, face possible arrest and even sanctions by the university. So much for allowing legitimate protest, and so much for the future of our young people as David Blanchflower in the Indie argues that: ‘The coalition has failed the young’ (no argument there) while for state workers the future is looking far from bright as the Morning Star reports that half of state workers have either suffered a wage freeze or cut, while the Indie reports that job insecurity for state workers is also on the rise, while the Mail reports on the torrid conditions for workers at Amazon’s vast warehouse, what happened to all that talk about the recovery, looks like it’s restricted to the rich…

Edited by Mik Sabiers

  Morning Star

  • Students face fine for uni sit-in (p1)
  • IDS heaps more misery on vulnerable (p2)
  • Labour hits out at PM’s smears (p3)
  • Protesters target Big Six as fuel poverty hits high (p3)
  • Wave of assaults on job centre staff as benefit cuts bite (p4)
  • Half of public sector on pay freeze (p4)
  • Did banks kills small firms? (p5)
  • Falkirk aftermath ‘allowed to fester’ (p5)

  Daily Mirror

  Sun (no links all stories now behind paywall)

  • Iran nuclear deal (p2)
  • RBS ‘are wreckers’ (p2)
  • Labour MSP joins bully boy protest (p7) – Unite cited
  • Labour should have sniffed out Flowers – Trevor Kavanagh (p10)
  • Co-op boss [Flowers] blasts ‘sting’ (p19)



  Times (no links all stories behind paywall)

  • Iran nuclear deal (p1)
  • Ukip leader accused of being bully (p2)
  • RBS accused of exploiting struggling companies (p4)
  • Labour MPs can’t bank on Co-op cash (p4) – Unite cited
  • Council workers caught in pension fund death spiral (p37)
  • Swiss reject salary cap (p39)
  • Babcock looks to helicopters (p44)
  • Bombardier provides boost to Belfast (p44)




  FT (no links all stories behind paywall)

  • Historic nuclear deal (p1)
  • RBS faces claim of killing off firms (p1)
  • Student loans worth £900 million to be sold off (p4)
  • Babcock in talks for copter group stake (p25)