Pressure is growing to include a clause to demutualise the exchange in order to loosen the grip of the brokers.

ECONOMIST: A financial scandal has shaken the Philippines to its core

The Tories who argued for no press law of any sort now appear to have conceded the need for a legal clause designed to give parliament the assurance that the new press regulator cannot be amended by a minister under pressure from the press without the agreement of MPs.

BBC: How the leaders reached Leveson deal