DAILY TELEGRAPH
CAMERON: I'LL PROTECT BRITAIN FROM EUROPEAN SUPERSTATE
The Prime Minister dismissed as “nonsense” a suggestion from Angela Merkel, the German chancellor, that the European Union should eventually have a single national identity and described as “nonsense” the idea of loyalty to a common European flag. Underlining the sceptical message, George Osborne hinted at a referendum on Europe following the euro crisis, saying any “reshaped” relationship with the EU might have to be put to British voters.
GUARDIAN
SPAIN'S CREDIT RATING DOWNGRADED BY FITCH AS INTERNATIONAL BAILOUT LOOMS
By Mariano Rajoy
The Spanish prime minister, Mariano Rajoy, attends a meeting in Madrid as the country's credit rating fell. The ratings agency Fitch delivered a strong rebuke to Europe's policy elite tonight when it sharply downgraded Spain's creditworthiness and moved the eurozone's fourth-biggest economy a step closer to an international financial bailout.
FINANCIAL TIMES
CHINA FACES STIMULUS DILEMMA
By Jamil Anderlini in Beijing
In chess, the term “zugzwang” describes a situation in which a player cannot skip a turn but any move he makes will put him in a worse situation. That also neatly describes the situation facing the Chinese government as it cut interest rates on Thursday for the first time since the height of the financial crisis in late 2008, lowering benchmark lending and deposit rates by 25 basis points to 6.31 per cent and 3.25 per cent respectively.
THE SCOTSMAN
JOHN SWINNEY SCRAPS STAMP DUTY IN SCOTLAND FOR ‘FAIRER TAX’
By TOM PETERKIN
Stamp Duty is to be scrapped in Scotland in the most radical overhaul of the taxation system since devolution, the Scottish Government has announced. Finance secretary John Swinney yesterday said the property duty would be replaced by a more progressive tax which he said would be “fairer” – but would hit those buying homes for more than £325,000.
THE SUN
GOOD LUCK IN YOUR NEW JOB
American Greetings buys Clinton Cards
By Steve Hawkes, Business Editor
One of the world’s biggest greeting cards makers vowed to revive CLINTON CARDS — after saving the chain and 4,500 High Street jobs. US-based AMERICAN GREETINGS sealed the deal to buy the famous UK brand from administrators yesterday. But it is not thought to have paid a penny because it had already bought the chain’s £35million bank debts, forcing it into administration.
DAILY MAIL
HOMEOWNERS FACED WITH HIKES IN MORTGAGE REPAYMENTS
By James Salmon
Millions of homeowners and small businesses could face brutal hikes in their mortgages and loan repayments as three of the biggest high street banks brace themselves for a humiliating downgrade by credit ratings agency Moody’s. The stark warning from analysts comes as Royal Bank of Scotland admitted yesterday it could be forced to raise at least £12.5billion in collateral to secure funds on the wholesale markets if it is downgraded by just one notch.
DAILY EXPRESS
WE MUST STOP GERMANY NOW
By Martyn Brown
Demands were growing last night for Britain to act to halt Germany’s relentless march towards creating a European superstate. Fury erupted after German Chancellor Angela Merkel yesterday cranked up her plans for political union.
WWW.BBC.CO.UK
PENSIONS GENDER GAP IS NARROWING, SAYS SURVEY
The gap between men's and women's pensions has narrowed in the past few years, according to a survey by the Prudential. But the gap is closing because male incomes are falling, and not because women's are rising. The Prudential says that taking into account all retirement income, women will have an average of £12,250 to live on compared to men's £18,000.
DID YOU KNOW?
WHAT A BLOW
Today in 1869 Ives W McGaffey of Chicago patented the vacuum cleaner.
Source: Stock Market Almanac
