Hitting the headlines today…
Ed Miliband has called for widespread banking reform after a series of scandals have hit the industry.
Speaking at the Co-operative Bank in London, Mr Miliband argued that wrongdoers should be “struck off”, just as doctors and lawyers are.
He also outlined plans for a specialist financial crime unit to be set up within the Serious Fraud Office.
The opposition leader also urged more competition within the banking sector proposing the creation of at least two “challenger” banks to contest the leading banks in the UK.
Tory Revolt Over Lords Reform
A group of 70 Tory rebels have signed a letter opposing the proposed House of Lords reform.
The letter was released by Nick Clegg and it comes ahead of Tuesday’s crucial vote.
The reforms look to make the Lords into an 80 per cent elected upper chamber.
If the timetable for the bill is opposed, it will signal the first major defeat for the government.
The UN-Arab League envoy Kofi Annan has hailed his talks with President Bashar al-Assad as “constructive.”
The former UN chief discussed ways to end the escalating conflict which has reportedly cost more than 17,000 lives.
As part of Annan’s six-point peace plan a ceasefire was supposed to take place in April but continuing bloodshed has brought about may critics of the tactics.
Hosepipe Bans Washed Away
The remaining water companies operating hosepipe bans have lifted the restrictions.
South East Water, Sutton and East Surrey Water, Veolia Water Central and Veolia Water Southeast have ended their bans in a move that follows the wettest June on record
Approximately six million domestic customers will be affected by the change.
John Terry in Court Over Racial Abuse Allegations
Former England football captain John Terry went on trial at Westminster Magistrates today accused of a racially aggravated public order offence during a Premiership match against QPR last October.
Terry has been accused of racially abusing Anton Ferdinand calling him a “fucking black cunt.”
Prosecutor Duncan Penny told the court that Terry had reacted to taunts by Mr Ferdinand about his affair with Wayne Bridge’s wife.
Mr Terry denies allegations of racially abusing Mr Ferdinand and claims he used the phrase ironically.
The trial is set to last five days.