Pru to face shareholder revolt - papers

Prudential chairman Harvey McGrath will face a 20% vote against him renewing his role in the company at the group’s AGM on Thursday.

The shareholders' ire was sparked by the Pru's failed attempt to take over rival AIA, the Telegraph reports.

Fund manager Fidelity, which has a 1.76% stake in the Pru, is also planning to vote McGrath out, CityAM reports.

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Brown warns credit crunch was ‘trailer' to series of crises

Former prime minister Gordon Brown has warned the collapse of the banks was just the first in a series of international crises.

He said global banking systems remain "perilously unregulated" and called on world leaders to collaboratively legislate against further collapses, the Daily Mail reports.

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Treasury officials spend £2m on govt credit cards

Treasury civil servants spent £2m on government procurement cards between 2008 and the present.

The Telegraph reports civil servants splashed out on chocolate-making classes, trips to adventure parks, go-karting, hotels, conference facilities, training and fine dining.

Communities secretary Eric Pickles has launched a scathing attack on the use of government procurement cards.

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Madoff lawyer sacked for dodgy expenses

A top lawyer hired to recover funds for creditors of imprisoned fraudster Bernard Madoff has been sacked by Hogan Lovells.

Christopher Grierson, a senior partner earning £800,000 per year, was fired for falsely claiming £1m in expenses, the Times reports.

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