Thursday's newspaper round-up: BP, postal service, airlines

24th Jun 2010 06:12

Oil was gushing largely unchecked from BP's stricken Gulf of Mexico well on Wednesday night - after an accident dramatically increased the flow, reports the Telegraph.Problems involving a subsea robot force the oil company to remove a containment cap, sending a further 27,000 barrels of oil into the Gulf of Mexico, as Bob Dudley takes over handling of the US crisis from Tony Hayward amid fears market may have been misled over the initial size of the spill, adds the TimesVince Cable, business secretary, is to announce on Thursday that he has commissioned Richard Hooper, author of a seminal report on the future of the postal service, to update his findings and help shape the coalition's ambitious privatisation plan for Royal Mail, says the FT.The transport secretary is pushing to amend contentious European passenger rights rules that the government says are "disproportionate and very burdensome" for airlines, says the FT.Rio Tinto confirmed yesterday that the Guinean government had threatened to strip the company of its stake in a huge iron ore project in the West African country. The dispute centres on the miner's failure to acknowledge an earlier decision to remove part of the project from Rio's control, writes the Independent.The head of the Travelodge budget hotel chain has criticised a declaration by Whitbread, which owns the Premier Inn brand, that it might be interested in making a bid for its smaller rival, writes the Times.The chief executive of Stagecoach has called on the Government to protect subsidies for bus travel and to cut roadbuilding and rail costs, says the TImesGeorge Osborne has heralded a fresh onslaught on Britain's £200bn welfare bill, in an attempt to prevent his deficit reduction plan inflicting serious damage on the underlying economy, writes the FT.Legendary investor George Soros has called on Germany to leave the euro unless it willing to embrace a growth strategy, describing Berlin's austerity doctrine as a threat to democracy and political stability in Europe, says the Telegraph.Channel Four said it had survived the worst advertising downturn since it was launched in 1982 by slashing costs and bringing in record profits at its digital media operation, according to the Independent.The Japanese car-maker Nissan has started production of a new engine which could lead to the creation of 200 jobs in the North-east of England, says the Independent.The US television network CBS is in talks to make its top shows available on the internet streaming service Hulu.com, in the latest sign that programme-makers are stepping up experiments with new ways to distribute their content, writes the Independent.