World News:

RTE Radio reports today that the UN is calling for an end to biofuel plantation and an international drive to feed the world population. The role of massive agrifirms like Monsanto was attacked. The food crisis was described as a 'Tsunami'.

In Zimbabwe the Movement for Democratic Change (MDC) has challenged the Zimbabwe Electoral Change decision that a run-off is needed as the MDC won the election but without an outright majority. ZANU/PF will mount a legal challenge to a number of the results (IT).

The IT gives its main front-page space to the Olympic torch arriving in China by boat.

European News -

Much discussion of the terrible local and mayoral election results for Labour in the UK.

Irish News -

The big IT headline is "Tax Revenue Down Over €900 on the Same Period Last Year".

The article states

Quote :

The shortfall in overall tax revenues has been triggered principally by the disappointing performance of the two taxes. Receipts from capital gains tax fell €334 million or 36% short of expectations in the first four months of the year, reflecting the weakness in housing markets and falling asset prices.

Value Added Tax - the exchequer's largest single source of income has brought in €277 million or 5 per cent less than expected over the same period.

Large additions to capital spending under the National Development Plan combined with the steep shortfall in total tax revenues have caused the exchequer to incur an overall deficit of €3.74 billion in the four months ending April. This is almost six times the deficit...in the corresponding period of 2007.

"The Independent" leads with a positive spin on the Employment Figures (see yesterdays review).

A possibly overlooked bombshell was Peter Bacon's evidence yesterday (reported in the IT) that "the methodology used in deciding the mobile phone licence competition, won by Denis O'Brien, led to 'inherently inaccurate' conclusions."

The Indo also reports that house prices went down 9% last year and that "Duchy" Holland was sent down for kidnap conspiracy.

Other press concentrates on human interest stories, all of them tragedies for the families concerned.

RTE Radio reports that the Irish Post Masters Union is starting a campaign against post office closures and wants a proper plan for where post offices are located, instead of just closing them randomly as is happening now. It is asking Government to recognise the social role of post offices.

Link to Irish Newpapers On-line