24/07/2016 The Papers


24/07/2016

No need to wait to see what's in the papers - tune in for a lively and informed conversation about the next day's headlines.


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Transcript


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

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With me are the Political Correspondent for the Daily

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

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Tomorrow's front pages starting with...

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The Financial Times leads with the parliamentary report

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into the sale of BHS, which blames Goldman Sachs

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for helping the former owner Sir Philip Green

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The Metro also focuses on that same report into the collapse

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of the high street retailer, the report highlights

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

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"as the king of retail lies in ruins".

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

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

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It also pictures cyclist Chris Froome winning his

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On the BHS report, The Daily Telegraph highlights

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

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unless he pays the company's pension deficit.

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

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

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

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support for Jeremy Corbyn in the forthcoming leadership election. A

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

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

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

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

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

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

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

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

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

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was manifestly unsuitable? Dominic Chappell bought BHS propound and had

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

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

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

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

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

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of advice on other business dealings. Attaching Goldman Sachs to

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

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

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

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

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nature and extent of their role. Rather than these preliminary

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

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

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

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

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

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rebounded particularly fire since the crash and this will not help

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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extra security checks are in response to some series events in

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

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

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

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

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

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

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

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

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president of the regional council quite often speaks up on these

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

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

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

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

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

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

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

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

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have dissipated. The situation improved relatively quickly. The

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Times newspaper. Backlash after Olympic chiefs reject ban on Russian

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

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

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

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

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

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Russian tennis players were eligible for Rio. The reaction,

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understandably, from former athletes and no doubt athletes competing

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Corbyn is not making difficult choices, presenting a policy

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

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

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

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

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

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

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

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

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

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

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

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

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

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the author is

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