3 July 2012 Last updated at 02:11 ET

Newspaper review: Disagreement over banking probe

The banking scandal continues to dominate most of the front pages, but the newspapers find it difficult to agree on what type of inquiry the financial industry should face.

The Sun says the "parliamentary inquisition" ordered by the government yesterday will be quicker and cheaper than a drawn-out, judge-led inquiry.

But the Daily Mail describes it as an inadequate response to the "monumental scandals convulsing the City". The panel will lack the expertise to ask the right questions or understand the answers, it says.

The Mail also alleges that customers are abandoning Britain's banking giants and switching their current accounts to building societies or smaller banks not tarnished by recent scandals.

For the Telegraph, however, a full public inquiry would doubtless have turned into a show trial designed to "humiliate the titans of finance for the satisfaction of the mob".

The Financial Times reports that people close to the Barclays chief executive, Bob Diamond, say he's threatening to reveal potentially embarrassing details about the bank's dealings with regulators if he comes under fire at his appearance before MPs.

Urgent action

The government's pledge to better protect children in care homes in England provides the Times with its main story.

The paper is particularly disturbed by the placement of children from southern England to cheaper care homes in the north. It describes it as an outrage that demands urgent action.

For its main story, the Daily Express reports that millions of arthritis sufferers have been given hope by a revolutionary British study that could lead to the first effective treatments.

It says eight new genetic causes of the disease have been pinpointed, and the findings give researchers their first real chance to develop drugs that could stop the disease or even wipe it out.

The Mail reports on a study which suggests we spend 69 minutes a day, or three years of our adult lives, procrastinating -- avoiding tasks that we should be getting on with.

The paper says we duck the less pleasant tasks for longer.

The head of Bing UK, the search engine company that carried out the study, tells the paper: "The research suggests Brits like to spend time mulling things over before actually doing them, perhaps too much so".