The city regulator, the Financial Conduct Authority, has abandoned holding an inquiry into the culture and behaviour of staff in banking. The Shadow Chancellor, John McDonnell, is critical of the move and describes it as "reverting to conversations of the gentlemen's clubs". The floods are receding. But the costs are rising. We hear from south west Scotland. The New Year honours have been awarded - amid claims that some civil servants and political advisers don't deserve them. We hear from the MP who led a recent inquiry into the system.