EUROPE - Tension between the European Central Bank and the German government has intensified as Jean-Claude Trichet hit back at the German finance minister's claims Greek government bondholders should contribute to a new aid programme.
Trichet instead continues to urge investments from foreigners in order to avert a collapse of the Greek banking system, and said forcing contributions from Greek bondholders is not a possibility, the FT reports.
In an open letter to European authorities he said: "Any additional financial support for Greece has to involve a fair burden sharing between taxpayers and private investors".
The ECB has not excluded a voluntary debt rollover, in which maturing securities were replaced with new bonds, but the preferred package involves backing from private sector and foreign investment.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.