What the other papers say this morning - 3 July 2013

FINANCIAL TIMES

‘Monumental mistake’ fears shatter consensus on HS2
Lord Mandelson has delivered a broadside against High-Speed 2, shattering the political consensus in favour of the new £50bn railway from London to the north of England. The influential former business secretary, a longstanding standard bearer of industrial activism, has urged Westminster colleagues to reconsider the scheme, warning that it could prove an “expensive mistake”. His incursion into the debate comes just days after the government raised the cost estimate fof HS2 by a quarter.

Cengage files for bankruptcy
Cengage, the college textbooks business bought by Apax Partners for $7.75bn (£5.1bn) in the frothy buyout market of 2007, has filed for Chapter 11 bankruptcy protection, putting senior creditors in charge as it seeks to cut more than $4bn from its $5.8bn debt load.

NHS fee for visitors
Non-EU citizens who come to the UK to work or study will have to pay a healthcare levy of at least £200 on top of visa costs before they are allowed to enter the country, under plans to be set out today.

THE TIMES

Contactless ringing the changes
The UK Cards Association says the number of contactless card purchases will soar to 300 per minute by the end of the year, against 120 in March and 70 at the end of last year.

Soaring baby milk prices provoke Nestlé price-fixing claims
Chinese authorities have accused Nestlé, Danone and three other manufacturers of participating in an industry-wide conspiracy to fix the price of baby milk powder.

The Daily Telegraph

Green calls for business rates rethink
Sir Philip Green has demanded a fundamental overhaul of Britain’s business rates system to support high streets. The proprietor of Topshop owner Arcadia said the government inflates rates.

New nuclear plant could be running by 2020, Ed Davey insists
Britain could have a new nuclear reactor generating by 2020, the energy secretary has said, dismissing fears the planned Hinkley Point plant had slipped further into the next decade.

THE WALL STREET JOURNAL

Spain presses Deloitte on Bankia
A Spanish government investigation into 2010’s public offering of Bankia that saddled investors with huge losses has questioned the independence of the Spanish unit of Deloitte.

Pressure builds on Michael Dell
Pressure is building on Michael Dell to contribute more of his own wealth if he wants to ensure that his joint buyout of computer maker Dell happens. Dell may have to up the offer price out of his own pocket if his $24.4bn offer fails.