WorldCom scandal 'unites' the papers

The biggest corporate fraud in history - at WorldCom - provokes contradictory responses from Thursday's newspapers.

"Panic: and it's going to get worse", declares the front page of the Daily Express.

"Don't panic", says the Times, which reports that the Chancellor Gordon Brown and the Bank of England Governor, Sir Edward George, are confident that Britain remains on track for steady economic growth.

"Could it happen here?", asks the Daily Mail, referring to the £2.5bn black hole in WorldCom's accounts.

"Yes" seems to be the paper's answer - it says there is no shortage of shabby auditing in Britain.

The Times disagrees. The paper's business editor, Patience Wheatcroft, suggests that we should thank - of all people - Robert Maxwell for prompting the introduction of rules which safeguard against most of the foul play emerging in America.

'Greed inspired frenzy'

The Guardian and the Financial Times agree that the WorldCom fiasco is another serious blow to the reputation of corporate America.

The Daily Mirror argues that we will all suffer financially.

"You were mugged yesterday", says the paper, "though you may not have felt it at the time".

For the Independent, WorldCom represents the worst of the greed inspired frenzy of the 90s boom - a company bloated by debt from more than 60 acquisitions.

The paper quotes one investment guru who says it is only now that the tide has gone out on corporate America that we can see how many people have been swimming with their trunks off.

'Hands off'

The Daily Telegraph is more interested in what the chancellor had to say about the euro in his Mansion House speech last night.

The paper says he re-asserted his control over the issue, by stiffening the tests for possible British entry into the single currency.

The Sun is concerned about Mr Brown's hint that the Bank of England may put up interest rates.

"We don't need higher rates, Gordon" - so "hands off", the paper declares.

Lottery's future

The Independent reports the national lottery could be nationalised, under the terms of a consultation document to be issued by the government.

Other options to be set out by Culture Secretary Tessa Jowell, include bringing in several operators to try to inject commercial competition into the flagging game.

Strip club brawl

According to the Daily Mirror, six Gurkhas have been charged with murder after a teenager became caught up in a brawl outside a strip club in Belize in Central America.

The paper says it is the first time in the Gurkhas' 200-year history that anyone from the regiment has faced such a serious charge.

Medieval royal feasts

It is a common complaint by house buyers that the previous occupants took everything they could lay their hands on when they left.

But the Daily Mail is among several papers to report that one woman took the patio with her when she moved from Eastington Hall near Great Malvern in Worcestershire to the Isle of Wight.

The paper says that the new owner, Hugh Taylor, is waiting for a court ruling on whether the ancient flagstones must be returned.

An insight into the eating habits of the medieval aristocracy is given by the Daily Telegraph.

It reports that the earliest printed cook book in English has been discovered at Longleat House in Wiltshire.

"A Noble Book of Royal Feasts", which dates back to 1500, includes recipes like "pike and eels in ballocke broth" and details of what was consumed at famous feasts.

Henry V's coronation supper lists an impressive number of cooked birds, including curlews, gannets, gulls, larks, peacocks, partridges, and even the humble sparrow.