Business secretary Vince Cable has announced that the government will put £1bn in equity and guarantees into setting up a bank designed to increase the amount of lending to businesses which have struggled for credit since the financial crisis. The bank will funnel the money through "existing lenders" and will start within 18 months.
PM BACKS MITCHELL. BUT DID HE SAY 'PLEB'?
Tory Chief Whip Andrew Mitchell, speaking for the first time on camera after last week's row with police guards who stopped him riding through a gate at Downing Street, has apologised and said he "did not use the words attributed to me". However, he would not say if he called the police officers "plebs". David Cameron has given him his backing.
DAME MAGGIE WINS EMMY FOR DOWNTON
Dame Maggie Smith won the Emmy for Best Supporting Actress for her role as the Countess of Grantham in Downton Abbey in Los Angeles last night. Damian Lewis won the Outstanding Lead Actor award for his role in the drama series Homeland. The awards were dominated by the US TV series Hatfields and McCoys, Homeland, and Game Change.
TERRY QUITS ENGLAND AHEAD OF FA INQUIRY
Former England captain John Terry announced last night that he is retiring from international football, releasing a statement just hours before a Football Association hearing into claims he racially abused an opponent is due to begin. He said that by pursuing the charges after he was acquitted in court the FA "have made my position with the national team untenable".
US SLAMS PAKISTAN BOUNTY ON FILM MAKER
The US State Department yesterday condemned Pakistani railways minister Ghulam Ahmad Bilour's offer of $100,000 for the death of the American maker of the anti-Islam film Innocence of Muslims, which has sparked riots worldwide and was denounced by the White House as "disgusting and reprehensible". The bounty, it says, is "inflammatory and inappropriate".
SCHOOLGIRL ELOPES WITH TEACHER
Megan Stammers, the missing 15-year-old schoolgirl from Eastbourne, Sussex, was last night believed to be on the run in France after eloping with maths teacher Jeremy Forrest, 30, of the Bishop Bell CofE School. Megan was reported missing on Friday and later spotted on a cross channel ferry. The return tickets to France have now expired.
BRITAIN BRACED FOR MORE RAIN
Britain is braced for more wild weather and the environment agency has issued more than 130 flood alerts in England and Wales as wind and rain continue to batter the country. The storms, caused by an offshoot of Hurricane Nadine, have killed three people and caused travel chaos in some places.
WASHINGTON ZOO'S GIANT PANDA CUB DIES
The week-old giant panda cub at Washington DC's National Zoo has died, it was reported yesterday, with the cause not immediately apparent. Zookeepers were alerted when the cub's mother, Mei Xiang, was heard making sounds of distress, but attempts to revive the tiny 3.5oz cub failed. Staff said they were "broken-hearted".
PATIENT WITH SARS-LIKE VIRUS IN UK
A man is being treated in a London hospital for a disease similar to the SARS virus, which killed hundreds of people in 2003 and sparked fears of a pandemic. The 49-year-old patient was brought to the UK from Qatar by air ambulance. He is the second person to be diagnosed with the new disease; the first, who is now dead, was in Saudi Arabia. It is not yet known whether the two cases are linked.
HOT TICKET: BARBICAN'S PHOTOS OF CHANGE
A major exhibition of photography capturing social change in the 1960s and 70s has opened at London's Barbican. 'Everything Was Moving' features over 400 works by 12 renowned photographers, including Bruce Davidson, William Eggleston, Sigmar Polke, David Goldblatt and Ernest Cole. "Visionary and utterly engrossing," says The Daily Telegraph. Until 13 January.