24/07/2016 The Papers


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Hello and welcome to our look ahead to what the the papers will be


With me are the Political Correspondent for the Daily


Telegraph, Ben Riley-Smith, and the Deputy News Editor


Tomorrow's front pages starting with...


The Financial Times leads with the parliamentary report


into the sale of BHS, which blames Goldman Sachs


for helping the former owner Sir Philip Green


The Metro also focuses on that same report into the collapse


of the high street retailer, the report highlights


Sir Philip's role in the sale - saying that his reputation


"as the king of retail lies in ruins".


The 'i' goes for a sport-heavy front page, with the IOC's decision NOT


to impose a blanket ban on Russian athletes at the Rio Olympics.


It also pictures cyclist Chris Froome winning his


On the BHS report, The Daily Telegraph highlights


the MPs' calls for Sir Philip Green to be stripped of his knighthood,


unless he pays the company's pension deficit.


The Times newspaper has a similar front-page leading with the report


into the BHS, as well as the severe delays at Dover. Meanwhile, the


Guardian discusses Labour's Leader of the House of Lords withdrawing


support for Jeremy Corbyn in the forthcoming leadership election. A


relatively wide mix of stories for us to pick over tonight, which makes


a change. We will start with the FT looking at the BHS fallout and what


it might mean for Sir Philip Green, the former owner. MPs blame Goldman


Sachs for lending credibility to doomed BHS deal. They allowed their


reputation to be used to burnish his cell, didn't they? Yes, it is a


tough day for Sir Philip Green tomorrow, this long-awaited MPs'


committee report finally comes out. He is dubbed the unacceptable face


of capitalism. The FT looks at an interesting part of this. Most of us


think how on earth did this deal go ahead when the person he sold it to


was manifestly unsuitable? Dominic Chappell bought BHS propound and had


no retail experience. A former racing driver, a former bankrupt.


The bit the FT pick out is Goldman Sachs is one of the most established


banks in the country and they landed their credibility to the deal.


Michael Sherwood, the cohead in Europe, the FT says, was involved in


giving advice to Sir Philip and they point out it was a pup a wider range


of advice on other business dealings. Attaching Goldman Sachs to


the deal, their advice gave it this perception of credibility to


something that should not have gone ahead. They say they only provided


preliminary observations, but this report says they did not. Rather


dryly the report says, we regret Goldman Sachs underplayed to ask the


nature and extent of their role. Rather than these preliminary


observations, there were 95 calls, meetings and e-mails between the


executives and people trying to sell BHS. Quite a lot of contact after


all. What difference will it make to the reputation of Goldman Sachs?


They have been trying to get over the bad reputation they got after


the crash of 2008. That is true and I am not sure their reputation has


rebounded particularly fire since the crash and this will not help


them get past these concerns. The Metro says Philip grid enriched


himself at the expense of the store and he took a lot of money out in


dividends. Hundreds of millions of pounds over the years when he was in


control. His reputation as the king of retail lies in ruins, according


to Frank Field, who before he appeared at the committee he was


already quite damning about Philip Green. There is a certain sort of


glee from Frank Field. Enthusiasm that his worst fears have been


realised. There was a lot of hurling insults between them. Frank Field


had indicated that Sir Philip needed to give back some of this cash to


help the black hole in pensions even before he had begun to take


evidence. Sir Philip said, I will not appear in front of the committee


until he steps down. It seems for now Frank Field has had the last


laugh and he has produced this incredibly damning report. The first


is what happens to the 11,000 jobs that hang in the balance and this


pensions black hole. Several hundred million pounds. 700 million is the


bigger people are urging him to help contribute. The other thing is his


knighthood. The Cabinet Office said last week that they would put it on


review and that will not help his case. Let's talk about happier times


for someone. Chris Froome gliding to glory, his third title in the Tour


de France. He is getting used to that yellow jersey. Four minutes


ahead does not sound a lot, but it is a long way ahead of your


competitors. The dominance of Sky is quite stunning. In the last five


years it has been won by an Sky cyclist and no Chris Froome has won


it for the third occasion, twice in a row, the first Briton to win it


three times and the first Briton to retain the title. The traditional


cycling along with a glass in hand on the final day does not do justice


to the enormous effort that this requires. He got knocked off his


bike at one stage and had to run up a mountain. It is stunning. I think


he had a beer as well as some champagne and why wouldn't you? One


of only eight people who have won it three times. And he still was to


carry on. God knows, you just want to go to bed and sleep for days. He


has been better treated this year. He has not had the same level of


concern and suspicion that he has had previously. It is pleasing to


see because this is one of our supreme athletes who I do not really


think gets the attention that he deserves. You could regard as


progress not having your own thrown at you. It's a success. And not just


him, but many other British athletes. The Olympics are coming up


and in 2012 we won more medals than in any other category and I am sure


they will want to repeated in Rio. The Telegraph, Dover ferry delays


may last all summer long. If you are going across the Channel by ferry,


that will not please you. Last thing for families who are planning their


summer escape. The stories are phenomenal, 12 mile tailbacks, some


people who spent Friday night and Saturday night in their car caught


in this incredible problem. There are sneaky suspicion is that this


is, quote, payback for Brexit. Hang on. It is a bit far-fetched. These


extra security checks are in response to some series events in


France, notably the attack in knees. They are and it is understandable


why there has been greater security, checking coaches and cars as they


pass. A large part of the blame is just sheer incompetence. They have


not got enough staff. Clearly it is the security issue and it has been


beefed up, but there are reports of how few people there are on the


border. At one stage one French officer was checking passengers on


hundreds of coaches and each coach took 40 minutes. So France are


paying is back for Brexit and not deliberately putting people on? The


president of the regional council quite often speaks up on these


border issues and he said it underlines how Brexit would have,


quote, consequences. We are getting ahead of ourselves. It it is a


deliberate plan, it is not great. But from this side of the channel as


well is it not surprising that more people were not told sooner do not


travel, delay? Rather than sit on a motorway for 13 hours. Yes, why was


there not an operation in place to alleviate this pressure. A second


night of people stuck overnight in their cars with small children...


Grim. A lot of them were British. As a consequence a lot of the queues


have dissipated. The situation improved relatively quickly. The


Times newspaper. Backlash after Olympic chiefs reject ban on Russian


cheats. This is the IOC being accused of passing the buck, of


dodging the decision that they had to make. Rather than issue a blanket


ban on Russian athletes competing at the Olympics, they have said it is


up to the individual sports to decide who should be allowed to


compete. Within two hours the tennis authorities announced that all seven


Russian tennis players were eligible for Rio. The reaction,


understandably, from former athletes and no doubt athletes competing


today is one of Bill disguised fury. Matthew Pinsent said it was a copout


and James Cracknell accused the IOC of bottling it. It is a decision


that rests with the IOC and they thought, it seems a bit hard for us


to take this. Track and field athletes are not going. Yes, they


are out, but people are getting in and the seven tennis players are


already in and Russian sports Minister is saying out of bed 387


strong team more than half will get accepted. We will see this mad


flurry, it is not long to go, 12 days. But surely individually that


is right? The people who are clean and who are not under suspicion? If


you are a clean Russian athlete, why should you be tarnished by the


illegal acts of others? On the other hand, if the IOC ever want to make


an Olympics appeared clean, they have to take a stand. What message


does it send when a state has been found to be running a drugs


programme across borders if you just wave it and say individuals can take


part. It is one thing to claim at an individual sport as we have seen in


cycling, which went through terrible times, and seems to have got over


the worst of it, it seems, but it is another thing if it is state


sanctioned? There was a cloud over the Rio games, every time the


Russians win a medal, I am sure that will happen. We look at other


state-sponsored doping systems that were going on and those results are


not trusted at all. Finally, the Guardian. Labour of's leader in the


Lords abandon support for Jeremy Corbyn. This is Baroness Smith who


has gone from being enthusiastic about Jeremy Corbyn to say, no, she


is going to put her support behind Owen Smith. How significant is this?


The leader of the party in the Lords does not support the leader of the


party in the Commons. It is easy to say it is just another one. There


are a lot of people frustrated with Jeremy Corbyn's leadership. But


firstly she is elected by the Lords and she attends the Shadow Cabinet


automatically. If Jeremy Corbyn wins, she will be sitting around the


table. For her to say he cannot really do is significant. She


absolutely takes a knife to the claim that he puts at the heart of


the election campaign, look at my time in office, we won the tax


credit reversal from the Tories. She said he did not play any part in


that and he should not be claiming the credit for the hard work of


others. She accuses him of not turning up for a lot of important


meetings. She gives credit to Owen Smith working very closely with the


Lords on the tax credits. She does not credit Jeremy Corbyn with that


at all. It fits into an narrative. It seems to suggest that Jeremy


Corbyn is not making difficult choices, presenting a policy


platform, and other people have made the same claims over his economic


policies. The economic gurus he brought in, they all left saying, we


have not seen an alternative. How vocal have the Lords been about


Jeremy Corbyn's tenure? Far quieter, they have not been going on


broadcast shows to make their views known. For this reason they are


automatically around the table with him on the leadership. As you say,


there is a question, not just people saying I believe in his values, they


are earnestly held, but it is his competence that is under question. I


have heard stories of people not being able to get a policy decision


out of him. He has got grassroot support. Yes, he has and that will


not change. Angela Smith is furious at left-wing politicians who have


been branded Blairite. That is it for this hour, but we will be back


again at 11:30pm for another look at the news on the front pages. Meet


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