Sunday Papers: Senior bankers lobby regulators on banking pay - other news

The Sunday Telegraph

* A small group of London's most senior bankers - led by Marcus Agius, John Varley and Sir Philip Hampton - have held a series of secret meetings on banking pay to convince regulators and politicians not to put the UK at a disadvantage on the world stage.

* The IMF on Saturday night failed to reach agreement on tackling mounting global "frictions" over exchange rate policies despite US calls to deal with the issue more forcefully.

* Energy group EDF has suffered a setback in the US with its joint venture partner, Constellation Energy, pulling out of a project to build a nuclear power plant in the US state of Maryland.

* Britain's accounting standards and the link to the financial crisis will be put under fresh scrutiny this week as two influential committees - the Accounting Standards Board and the House of Lords Economic Affairs Committee - hear evidence that the banks have adhered to "dangerously flawed" rules for more than five years.

The Sunday Times

* Aardman, home of the model heroes Wallace & Gromit, has swung from a £1 million profit to a £2.5 million loss last year by shrinking margins, significant losses and rising costs.

* Decision to buy German rolling stock divides members of the Channel tunnel’s ruling body as French members revolt saying the trains are unsafe.

* Deep water off Britain's west coast could be home to floating wind turbines as Project Deepwater reveals new plans to harness the area's high winds.

* About 610,000 state jobs are expected to be cut between now and 2015, with 60,000 to be shed this year; but analysis by Liberum Capital, an investment bank, suggests that most of the cuts can be achieved through “natural wastage”.

* Burberry is forecast to report a 15% increase in first-half revenues to about £633 million on the back of a strong showing in emerging markets and high-flying sales of this season’s best-seller, the aviator jacket.

* Windows’ imminent Phone 7 aims to storm past its rivals as the software giant eyes new tie-ups to take the fight to Apple boss Steve Jobs.