Newspaper headlines: 'Pressure on BBC bosses' and 'SVB tremors spread'

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By BBC News
Staff
EPA

The leaders of the UK, the US, and Australia gathered in California on Monday to announce a joint-plan for a new generation of nuclear-powered submarines

Tuesday's Times leads on plans by the UK, the US and Australia to build a new generation of nuclear-powered submarines.

Defence sources tell the paper that under the Aukus security pact, Britain could double its fleet of attack subs. The paper says the deal is seen as vital to responding to a world that's becoming more dangerous, more quickly than expected.

The Daily Mail describes the pact as a "major coup" for British engineering that will create thousands of jobs in the UK.

Papers including the Daily Telegraph and the Times report that the chancellor will boost tax-free allowances for pensions in tomorrow's budget - with the aim of encouraging early retirees back to work.

The Times says the lifetime allowance will rise from £1m to £1.8m, its joint-highest level on record of £1.8m, benefitting nearly 2 million people. The amount people can contribute to their pensions each year before incurring tax will also reportedly rise by a half to £60,000.

The Financial Times describes how the failure of Silicon Valley Bank tore into global markets yesterday. Investors dumped their bank stocks and, according to the paper, ripped up their forecasts for further rises in interest rates.

The paper's leader column accuses central banks and regulators of paying too little attention to the risks posed by rising interest rates, which it says left lenders like Silicon Valley Bank exposed.

For the London business paper City AM, UK tech firms breathed a "sigh of relief" when an eleventh-hour deal was agreed yesterday for HSBC to take over Silicon Valley Bank's British subsidiary.

The Sun and the Daily Mirror lead on Gary Glitter being recalled to prison. The Sun says its comes after its Sunday edition reported that the 78-year-old had been filmed at his bail hostel discussing how to access the dark web on a smartphone. A source tells the paper that Glitter's phone was also being monitored remotely and is now undergoing forensic analysis.

PA Media

Paedophile pop star Gary Glitter has been recalled to prison

Most of the other papers focus on the BBC's impartiality row with Gary Lineker. The Guardian says BBC bosses are under renewed pressure after the presenter was allowed back on air without having to make any significant concessions.

For the Daily Mail, the fact that Gary Lineker has kept his job - while still tweeting - is a slap in the face for licence-fee payers. The Daily Express asks whether the affair has put the final nail in the coffin of the licence fee and quotes Tory MPs who support changes to the corporation's funding model. "1-0 to the crisps salesman", is the Daily Star's verdict.

Finally, the Daily Telegraph reveals that gorillas deliberately spin themselves around in circles to reach a mental state equivalent to being high on drugs - and our earliest ancestors are likely to have done the same.

A study in the journal Primates says the apes' behaviour is mirrored by some humans, including dancing Dervish Muslims, and children enjoying a merry go-round. The researchers believe it could be the "first kind of high" - predating psychoactive drugs.