Sir Mervyn King, voting begins, Rupert Murdoch and Edvard Munch's The Scream

Sir Mervyn King, voting begins, Rupert Murdoch and Edvard Munch’s The Scream

Government urged to reform banking

SIR Mervyn King has urged the Government not to delay reforming the financial sector and admitted more should have been done to avert the banking crisis.

The Governor conceded the Bank of England should have “shouted from the rooftops” that banks had been allowed to borrow and lend too much.

He also said it should have done more to convince the Government to recapitalise banks sooner and said a decision to take away the power of regulation from the Bank in 1997 returned “to haunt us”.

Coalition expects mid-term bruising

VOTERS across Britain are expected to dish out a mid-term bruising to the Westminster coalition parties today as they head to the polls.

Conservatives and Liberal Democrats are braced to lose hundreds of around 5,000 seats at stake on 181 councils across England, Scotland and Wales.

But the Tories will hope for a better result in the capital, where Mayor Boris Johnson is defying the national trend to remain favourite to retain City Hall.

Death probe police ‘to test spies’

MEMBERS of the secret services are expected to come under scrutiny as detectives redouble their efforts to solve the mystery of spy Gareth Williams’s death.

MI6 came under fire as a coroner said she was sure a third party locked the code-breaker inside the red holdall in which his naked body was found in his bath.

Police strongly suspect a member of MI6 or GCHQ was in his flat the day he died and will take DNA samples from up to 50 of his colleagues, the Daily Mail reported.

Company backing for Rupert Murdoch

NEWS Corporation’s board has declared its full confidence in Rupert Murdoch’s “fitness”, insisting he should remain at the helm of the company.

Directors convened a meeting to consider their response to a report by a committee of MPs that found the media mogul was “not a fit person” to run an international company.

In a contentious amendment to the report by the Commons Culture Committee investigating the News of the World phone-hacking scandal, News Corp was censured for its “lack of effective corporate governance”.

Source : Sir Mervyn King, voting begins, Rupert Murdoch and Edvard Munch’s The Scream – WalesOnline