Ten Things You Need to Know Today: Tuesday 10 Jul 2012

1. TORY MP TELLS OSBORNE TO APOLOGISE

A Conservative MP has joined the chorus of calls for George Osborne to apologise to Ed Balls for saying he had "questions to answer" over the Libor scandal. Andrea Ledsom MP, a member of the Treasury Select Committee, said Osborne "made a mistake" and "should apologise". Osborne's aides say the Chancellor now accepts Balls was not involved with the scandal.

Pressure grows on Cameron to give Osborne the push

2. POLICE SHOOTING: SUSPECT FOUND DEAD

Peter Reeve, a 64-year-old resident of Clacton-on-Sea suspected of shooting dead Pc Ian Dibell yesterday afternoon, has been found dead in a churchyard in Writtle, near Chelmsford. No shots were fired by Essex police. The body was found with a handgun and a head wound. Police believe Dibell, who was off-duty, was shot dead after he "deliberately intervened in what he knew was an extremely deadly situation".

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Clacton police shooting: Peter Reeve found dead

3. COALITION FACES LORDS BILL REVOLT

The coalition government could face its first defeat today as over 70 Tory MPs vow to defy party whips over the House of Lords reforms. Nick Clegg, the architect of the proposals, was heckled by Tories when he opened the two-day reading of the Lords Reform Bill. Some Liberal Democrats suspect Cameron has ordered only moderate whipping on the vote.

4. FAMILY OF FOUR 'NEEDS £36,800 INCOME'

A family with two children needs an annual income of £36,800 a year to have a "socially acceptable" standard of living, claims an anti-poverty charity. The Joseph Rowntree Foundation said families must now earn a third more than they did in 2008 in order to enjoy an satisfactory standard of life, due to cuts in benefits and rises in travel costs and childcare fees.

5. EUROZONE OFFERS SPAIN 30BN EUROS

Eurozone finance ministers will offer Spain 30bn euros (£24bn) to help its troubled banks. The money will be available by the end of the month. They also agreed to extend by one year the deadline for Spain to reach its deficit reduction targets. The agreements were reached after nine hours of emergency talks in Brussels.

Spain gets €30bn eurozone loan for struggling banks

6. KYLIE AND JASON CONCERT CALLED OFF

A concert in Hyde Park featuring Kylie Minogue and Jason Donovan performing together for the first time in more than 20 years has been called off because of the weather. The Hit Factory show on Wednesday was cancelled after the weekend's Wireless Festival turned the sodden park into a mudbath. Organisers hope other events this summer will survive.

Kylie and Jason reunion off, will other Hyde Park gigs survive?

7. DIAMOND GIVES UP £20M IN BONUSES

Ex-Barclays boss Bob Diamond is to give up £20m in bonuses after resigning as a result of the bank Libor scandal. But he is still expected to receive a pay-out of £2m as he will get a full year's salary and other benefits, even though his notice period is six months. Bank chairman Marcus Agius told MPs that Diamond had waived his bonus voluntarily.

Bob Diamond waives £20m bonus but claims full salary

8. CRUISE AND HOLMES AGREE DIVORCE

Tom Cruise and Katie Holmes have reached a speedy settlement over their divorce, representatives of both stars have confirmed. "The case has been settled and the agreement has been signed," said Holmes' lawyer. A spokesman for Cruise said: "It is done." Unconfirmed reports suggest Holmes will get sole custody of their daughter Suri.

9. TERRY 'UPSET' AT RACISM ALLEGATION

John Terry told a court that he felt "angry and upset" to be accused of racism against opponent. The Chelsea captain, giving evidence at his trial, said he exchanged insults with Anton Ferdinand during a game against QPR but said he was only sarcastically repeating an allegation of racism. Earlier his defence team failed in a bid to get the case thrown out.

10. HOT TICKET: TAKING A PEEP AT TITIAN

Metamorphosis: Titian 2012, which opens tomorrow at London's National Gallery, juxtaposes three paintings by Titian, each depicting Diana, the Roman goddess of hunting, with specially commissioned modern works. An installation by Mark Wallinger allows visitors to watch through a peephole as a rota of real-life Dianas pose naked in a mocked-up bathroom.

Metamorphosis: Titian 2012 is 'transcendent' and fun