Papers examine peer fee payments

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The Daily Mail's main focus is on peers in the House of Lords and fees earned from outside companies.

Both that paper and the Independent have been trying to work out how many peers are being paid by such firms.

The Mail says it has found 145 peers out of 743 eligible to sit in the upper chamber are acting as "consultants" or "advisers" to outside interests.

The paper describes this as a "parliamentary cottage industry", potentially worth millions.

Job cuts

The escalating job losses prompt more gloomy headlines and the Sun calls yesterday "Black Monday".

The Times remarks the sheer scale of the global downturn was brought home with the announcement of more than 70,000 job cuts across the world.

The Guardian says Gordon Brown is worried he is increasingly being seen as the "Minister for the Recession".

It says he told members of the cabinet they need to do more to share the burden of tackling the economic crisis.

Carbon tax

The Financial Times believes that renewable energy projects shouldn't fall victim to the recession.

It proposes a new carbon tax to encourage their development and change people's behaviour.

The paper also carries an interview with the chairman of the Environment Agency, Lord Smith.

He's concerned big energy companies appear to be reconsidering plans for offshore wind-farms and says more needs to be done to encourage investment.

Fashion boom

One thing that doesn't seem to have suffered in the recession, according to the Times, is high fashion.

It says the top end of the industry is in "rude health" and has pictures of a series of lavish dresses which Dior presented during a show in Paris.

Dior's sales are up 35 per cent on last year and the firm remains confident about its prospects.

Its president, Sidney Toledano, explains why, "very rich people are not suffering in the crisis", he says.