What the other papers say this morning - 2 July 2013


Rothschild to advise on split of RBS
The government has moved quickly to appoint advisers on the potential split of Royal Bank of Scotland into a good bank and bad bank, with Rothschild set to be named to run the assessment. Rothschild’s role could be announced as soon as this week, said people close to the situation, after the investment bank saw off competition from Deutsche Bank and Bank of America Merrill Lynch at presentations last week.

Mandela family in court spat
A dispute between members of Nelson Mandela’s family over the location of the graves of three of his children played out in court yesterday as the elder statesman remained in hospital in a critical condition.

US shale boom gives edge to Mexico
The US shale gas boom is shaping up as a big competitive advantage for manufacturers in Mexico. Mexico’s proximity to the US will make it competitive as a manufacturing location.


Liberation pensions to be struck off
The taxman is set to strike off hundreds of pension schemes, which it suspects of being used for “liberation” scams. HMRC will deregister 500 schemes it believes would release savers’ money before they are legally entitled to claim at 55.

French car sales have lost direction
Sales of new cars in France fell by nine per cent in June, according to industry figures.

The Daily Telegraph

Bebo founder buys back website
The founder of Bebo, Michael Birch, has bought the social network for $1m just five years after selling it for $850m.

North Sea safety workers win pay rise
A pay rise of 20pc for safety inspectors of North Sea oil and gas installations has been approved by Iain Duncan Smith, the Welfare and Pensions Secretary, to stem an exodus and raise morale.


Insurers Warned on Links to Iran
New York’s finance regulator is setting his sights on the world’s reinsurance firms, alleging some of them may be involved in practices that won't comply with pending US laws against doing business with Iran. A yearlong probe by Benjamin Lawsky, superintendent of New York’s Department of Financial Services, has uncovered evidence that at least three non-US firms insured shipments to Iran, according to sources.