BP Share News (BP.)

Royal Bank Of Scotland could break back into the black this week, boosting hopes that taxpayers could make a profitable exit from the government's bank bailouts. Analysts expect RBS to post a pre-tax profit of about £200m for the first six months of the year, ending a two-year run of multi-billion pound losses. The turnround at RBS will be matched by a strong showing from the two other taxpayer-backed banks. Lloyds Banking Group is forecast to report a £1bn profit, while Northern Rock is also likely to be profitable, the Sunday Times reports.The Chancellor warned the financial sector that it must start lending, as the UK's five biggest banks roared back into the black during the first six months of the year. Resurgent profits at two of the banks bailed out by the taxpayer, Lloyds and Royal Bank of Scotland, could prompt fresh calls for intervention on bonuses. Liberal Democrat members of the Coalition are pressing for tougher action."Every small and medium-sized company that I have visited in recent weeks has had some problem with their bank - either they have found it difficult to renew their overdraft or they demanded additional collateral, often someone's house," the Chancellor said, the Sunday Telegraph reports.BP faces a forced wind-down of its Gulf of Mexico operations after American lawmakers passed a bill that could halve its production there in five years. The threat could accelerate an expected shake-up of BP's exploration and production arm under new chief executive Bob Dudley. Bankers think this could cost the jobs of Andy Inglis, head of the division, and Doug Suttles, his deputy.The so-called Miller amendment proposes to freeze BP out of new drilling leases for seven years. It would also bar the company from being granted the permits it needs to maintain current production, the Sunday Times reports.Britain will enjoy a stronger recovery next year than the US, the eurozone and other advanced economies, despite the government's tax rises and spending cuts, according to forecasts from Goldman Sachs. The investment bank predicts growth of 2.9% for Britain next year, followed by 3.2% in 2012. It says America will grow by 2.4% next year, Japan by 1.7% and the eurozone by 2.2%, the Sunday Times reports.ITV will stage a return to pay-TV this week as Adam Crozier, the new chief executive, lays out a five-year vision designed to equip the broadcaster for the digital age. It is in talks that will see BSkyB granted exclusive rights to carry high-definition versions of ITV2, ITV3 and ITV4 on the satellite platform. The deal would mark the first step in reducing ITV's reliance on volatile advertising markets, the Sunday Times reports.The UK will see sluggish house price growth over the coming years according to the Centre for Economics and Business Research, as the Bank of England's Monetary Policy Committee prepares to leave interest rates on hold this week. The think tank said that although there would be no double-dip in the housing market - with "doomsayers" incorrectly predicting sharp falls over the coming years - growth in house prices was likely to slow next year, the Sunday Telegraph reports.Public sector procurement chiefs will exploit weak, existing contracts with suppliers to help push through cuts, experts warn, making government contractors even more at risk during the current austerity drive. The danger to firms, ranging from small teams of window cleaners right up to public companies, comes as many suppliers to the public sector are already feeling the pressure from a government determined to fulfil its promise to slash spending, the Sunday Independent reports.Kirby Adams, the outgoing chief executive of Corus who threw 1,000 steelworkers out of a job this year, is believed to have been paid more than £2m. The jobs were lost after the partial mothballing of one of Corus's plants, Teesside Cast Products (TCP). The trade union Community described Adams's pay as "an insult to all steelworkers," the Observer reports.