In the papers…

myfinances.co.uk takes a look through the financial pages – with the credit crunch still grabbing the headlines.

The Telegraph reports the fat cats may be losing some milk. The Association of British Insurers (ABI) is to review executive pay structures in the wake of the credit crisis on the banking sector. There are calls for bonuses to be aligned to shareholder returns.

The Daily Mail writes job losses at bank UBS could amount to 8,000 after crunch losses. It also reports veteran investment head Warren Buffet is considering a bid for the insurance arm of RBS.

The Financial Times warns the credit crunch could get worse before it gets better.

The paper reports US banks are tightening lending standards in near record numbers as the squeeze on the US economy intensifies, according to a Federal Reserve report.

However, the Independent reports the US government could sue over subprime mortgage selling. Federal agencies are coming together to investigate every part of the crisis from mortgage brokers to investment banks.

The Independent also reports the Bank of England is concerned by private equity investors selling off debt at discounts.

Looking at this week's interest rate decision, the Times reports a cut is off the cards as inflation rates seem not to be falling, a prediction shared by the FT.

Finally, the Daily Star reports that, as DIY season gets going, a quarter of home owners do not have enough home insurance cover in place to protect their possessions if they get careless with a power drill.

Daniel Barnes