1. National

G4S Olympics fiasco costs £50m

The security firm G4S has announced it lost £50m after failing to supply sufficient guards for the Olympics. The company revealed it made a profit of £236m in the six months to the end of June - a period not including the Games.

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  1. Laura Kuenssberg

G4S continues Government business

G4S are still in talks with Bedfordshire, Cambridgeshire and Hertfordshire Police over providing services. Nick Buckles, chief executive, says the Lincolnshire contract is going well.

It's extraordinary to hear Buckles rattling off a list of public deals - Oakwood Prison, other jails, Scottish courts, police contracts.

Whether it's a good or bad idea to involve the company, this morning is a big reminder of just how much business G4S does with the Government.

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