Obama-mania dominates the press

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The Sunday papers convey varying degrees of excitement about the impending inauguration of US President-elect Barack Obama.

A cartoon in the Sunday Times shows him dressed as Superman but the caption does ask: "Are we expecting too much?"

The Independent on Sunday believes this is the dawn of a new kind of leadership for the world.

The News of the World is fawning in its praise, calling Obama "An extraordinary man for extraordinary times".

Outgoing leader

The newspapers are just as focused on George W Bush, whose time in office will be over in just a matter of days.

The Observer's Andrew Rawnsley believes one of Barack Obama's virtues lies purely in the fact that he is not Bush.

Meanwhile, David Miliband's rejection of the "War on Terror" angers the Sunday Telegraph's Matthew D'Ancona.

Calling the foreign secretary both "stupid" and "clever", he says this does not stop terrorists from believing they are at war with the West.

Money issues

The People describes the government's latest plans to prop up the banks during the economic downturn as "a last ditch bid to stop meltdown."

The likely cost of the scheme horrifies the Mail on Sunday, which says it could put Â£200bn of taxpayers' money at risk.

The Sunday Express warns that cash-strapped television channels may switch off at midnight in a bid to cut costs.

The paper says reducing broadcasting hours could help channels such as ITV, Channel Four and Five to survive.

Royal spending

The Times also says that Russian billionaire Roman Abramovich is planning to sell Chelsea Football Club.

It reports that his representatives have already met interested Gulf Arabs - including Saudi royals.

A British Royal, Prince William, has also been rather busy, according to the Daily Star.

It reveals that he gave girlfriend Kate Middleton an unusual, and not especially romantic, birthday present - a telescopic sniper sight for a rifle.

The paper believes this is yet another step closer to a possible marriage.