Also: Corus shares jump as market senses new Tata bid and storm causes up to £1bn of damage

Olympic funding is robbing good causes, say MPs

The soaring cost of the Olympics will be condemned in a report by an all-party committee of MPs this week, according to the Sunday Telegraph.

Brown told: pay up for Olympics

The Observer reported that an influential committee of MPs is demanding that the Treasury, and not the National Lottery, foots the bill for the rising cost of the Olympics. The House of Commons Culture, Media and Sport committee will this week ask why the original budget from 2004, which ministers and London mayor Ken Livingstone insisted was robust, has gone up so quickly, the paper says.

Corus singing on Tata bid talk

The Independent reported on Saturday that Corus shares jumped 7.5p to 545p as speculation mounted that India’s Tata steel was about to make an improved bid of up to £5.7bn for the steel maker.

Green light to largest onshore wind farm

Scottish & Southern has unveiled plans to build the UK’s largest onshore wind farm, in the Shetland Islands, the Independent reports on Saturday. The newspaper says that the wind farm will be capable of powering a quarter of all homes in Scotland.

Campaigners fight Glyndebourne’s wind turbine plan

The Saturday Telegraph reported that plans for a 70m wind turbine has enrages conservationists who have argued the turbine would be inappropriate in an area of natural beauty. The new turbine would reduce the carbon emissions of the opera house by 71% each year.

Tesco to install solar roof in US

The weekend FT reported that Tesco is set to install a solar-power roofing system on its new distribution centre in California. Shares in Aim-listed Solar Integrated Technologies, which is supplying Tesco with the roof panels, shot up almost 39% to 52p as a result of the announcement. The FT says that Tesco has already committed to halving its energy use across its stores by 2008.

Storm death toll rises to 14

The Independent reported on Saturday that the death toll from storms in the UK last week rose to 14. The paper claimed the damage could cost £1bn.

Charles cancels ski trip to back up ‘green’ pledge

The Telegraph reported this weekend that the Prince of Wales ‘quietly’ cancelled his annual skiing trip to Klosters after being criticised by a cabinet minister for flying to New York to pick up an environmental award.