What the other papers say this morning


Whitehall departments face big cuts
Several government departments will have lost more than £3 in every £10 they once had available for spending, by the time of the next election, according to Financial Times research.

SGX in talks over LCH.Clearnet stake
SGX, the Singapore stock exchange, is in discussions about taking a stake in LCH.Clearnet, the transatlantic clearing house, as bourses gear up for sweeping reform of derivatives and equities markets. The Asian exchange is in talks with London-based LCH about taking a separate stake or becoming part of the deal in which the London Stock Exchange is set to take a controlling 60 per cent shareholding, said three people familiar with the situation.

ECB told to double manpower
The European Central Bank will need to more than double its manpower and hire around 2,000 bank supervision staff to put the Eurozone’s banking union into practice, according to a confidential study for the ECB. The consultancy report was from Promontory Financial Group.


Boeing faces legal claim
Japan’s national airline intends to seek compensation from Boeing over the grounding of its troubled Dreamliner jets, which are standing idle on the tarmac after safety scares.

Gates open at BBC Television Centre
Members of the public will be able to walk in the footsteps of famous BBC figures and classic programme characters for the first time in more than half a century after a decision by the new owner of Television Centre, Stanhope, to throw open its gates.

The Daily Telegraph

Investor confidence in UK rail low
Investor confidence in the UK rail industry “couldn’t get much worse” in the wake of the West Coast rail franchise fiasco, according to the incoming boss of Stagecoach, Martin Griffiths.

Harrods shuts lid on piano sections Harrods has shut its piano department after 118 years, as sales of the musical instrument fall across Britain. Today, only about 4,000 acoustic pianos are sold in Britain each year compared with 14,000 in the late 1960s. Hardly any are UK made.


Ryanair offers new concessions
Ryanair has submitted yet another package of concessions to EU regulators in a last-ditch attempt to secure approval for its bid to acquire rival Irish carrier Aer Lingus, people close to the process said yesterday.

Ford pouring cash into pensions
Ford expects to spend $5bn this year shoring up its pension funds, almost as much as the auto maker spent last year building plants, buying equipment and developing new cars.