<strong>THE SUNDAYS<br />The Sunday Telegraph<br />FSA TOLD TO CLEAN UP OIL MARKETS<br /></strong>The Financial Services Authority has been told to examine its statutes to ensure it can prosecute oil speculators practising market abuse. The financial watchdog must also consider bringing in stronger measures to detect speculators using techniques such as phone-tapping, as well as ensuring they have enough staff to investigate and potentially prosecute them.<br /><strong><br />ABI IN CASH-BOX WARNING<br /></strong>Following property company Liberty International&rsquo;s use of a &ldquo;cash-box&rdquo; placing to raise &pound;280m without shareholder approval, The Sunday Telegraph has learned that the ABI is looking at ways of alerting shareholders to serious concerns about the use of unconventional share placings.<br /><br /><strong>THE SUNDAY TIMES</strong><br /><strong>BANK OF ENGLAND DEFENDS MERVYN KING</strong><strong><br /></strong>Mervyn King is not trying to talk down the pound, say Bank of England sources, who insist that the currency markets have misinterpreted the governor&rsquo;s comments.<br />Sterling dropped below &euro;1.09 and $1.60 on Friday, its lowest for nearly six months and four months respectively.<br /><strong><br />FITNESS FIRST GYMS FOUNDER STORMS OUT<br /></strong>The founder of Fitness First, the world&rsquo;s largest gym chain, has quit the company after a row with the main shareholder over strategy.<br />The disagreement between Mike Balfour and BC Partners, has been brewing for months, although Balfour has only resigned in the past few days.<br /><strong><br />TODAY<br />FINANCIAL TIMES<br />SAVERS LOSING FAITH IN BANKS<br /></strong>People trust themselves to look after their own savings and investments more than banks, building societies or independent financial advisers, according to a survey in the US and Europe. As the Financial Times launches a series on the future of investing, the poll showed high levels of uncertainty among householders over where to put their money.<br /><br /><strong>SAVERS LOSING FAITH IN BANKS</strong><strong><br /></strong>Goldman Sachs has launched an aggressive recruiting drive to build its asset management business at a time when its rivals are pulling back from fund management. The US bank will hire up to 200 staff across all regions in an attempt to establish a dominant position as one of the world&rsquo;s leading asset managers.<br /><br /><strong>The Daily Telegraph<br />ROYAL BANK OF SCOTLAND ACCUSED OF 'BULLYING' LOAN CLIENTS<br /></strong>Royal Bank of Scotland has been accused of &ldquo;blackmailing&rdquo; companies by demanding they sign it up as an investment banking adviser in return for debt. Several companies, which declined to be named, have expressed concerns about RBS&rsquo;s aggressive tactics in return for much-needed credit.<br /><strong><br />NETWORK RAIL REFORM PLANS RUN OUT OF STEAM</strong><br />Plans for a radical shake-up of Network Rail look to be heading for the buffers after its new chairman declined to back proposals to reduce its 105 members. Rick Haythornthwaite, the former Invensys boss who took over as chairman in July, is this week due to meet a 10-strong group of members who had been seeking an overhaul of the firm&rsquo;s much-criticised governance.<br /><strong><br />THE TIMES<br />ORANGE ON BRINK OF DEAL TO SELL APPLE IPHONE IN UK<br /></strong>Orange is expected to announce a deal with Apple this week to sell the iPhone in the UK as O2&rsquo;s exclusive contract to sell the handset nears its end. Apple is looking to boost sales of the iPhone by opening it up to new operators.<br /><br /><strong>BIG AUDIT FIRMS LEFT UNPROTECTED AGAINST CLAIMS OF NEGLIGENCE<br /></strong>Britain&rsquo;s big four auditing firms have been left exposed to a surge in negligence claims after the Government refused to limit further the damages they could face. Deloitte, Ernst &amp; Young, KPMG and PricewaterhouseCoopers (PwC) lobbied hard for a cap on payouts. Senior figures involved in the discussions said that business secretary Lord Mandelson appeared receptive but stopped short of changing the law. <br />