B&B to split good and bad assets to repay £18bn loan early - papers

Bradford & Bingley (B&B) is to divide its £50bn balance sheet into “good” and “bad” assets in an exercise that echoes similar plans at Northern Rock.

B&B, which was broken up and partly nationalised a year ago, is looking for attractive assets that it can sell to private buyers.

The plan is part of B&B's drive to repay its loan as quickly as possible. Full story...

BONUSES paid to the heads of Britain's top companies have shrunk by nearly a third, but many directors are clawing back the losses through hefty increases in their salaries, according to a survey out today.

The Times reports the survey by Incomes Data Services (IDS) shows that bonuses for chief executives at FTSE 100 companies have fallen by 29% in the past year, the sharpest drop in a 12-month period for ten years.

Yet despite the payouts still typically remaining at more than £500,000, the pay research group found that many companies, seeking to avoid an exodus of talent, had sought to fill the bonus shortfall by raising salaries. Full story...

SECOND home owners will be hit with a "stealth tax" of thousands of pounds a year under legislation to be announced by the Chancellor Alistair Darling in his Pre-Budget Report (PBR) next month.

The Sunday Telegraph reports the move by will hit an estimated 60,000 property owners who let out their second homes to paying guests for a substantial part of the year. Full story...

THE huge impact of the economic turmoil on households in Britain has been revealed by new figures that show household wealth in Britain fell by £844bn between 2007 and 2008, driven by sharp falls in house prices and the collapse of the stock market.

The Telegraph says it is expected to fall by a further £251bn in 2010 after a slight improvement this year. Full story...