What the other papers say this morning - 3 June 2013

FINANCIAL TIMES

Hunt defends NHS cash ringfence
Jeremy Hunt, health secretary, has warned fellow ministers against trying to undermine the ringfence around the NHS's budget, as the cabinet enters a final few weeks wrangling over the next public spending round.

Finance system waiting for next crisis
John Kay, the economist and author, will warn this week that the world is heading for another financial crisis because the economic system is geared around trading profits that create market bubbles that inevitably burst. Almost a year after the publication of his groundbreaking review of the UK's equity markets, the London School of Economics professor will say in a keynote speech this week that the world is "waiting for the next crisis".

China blocks MasterCard transactions
China has blocked MasterCard from processing credit card transactions in renminbi, raising concerns about Beijing's willingness to fully open up the sector after the World Trade Organisation found it unfairly restricted foreign card firms.

THE TIMES

Founder recalled to save Infosys
The man credited as one of the inventors of the global IT outsourcing industry, Narayana Murthy, 66, has been lured out of retirement to turn around the Indian giant he founded 32 years ago following a devastating profit warning.

ENRC dismissed team after report
An internal review at ENRC recommended that the company dismiss 20 of its senior Kazakh staff for fraud and discipline more than 60, The Times has learnt.

The Daily Telegraph

PRIMARK TAKES CHEAP CLOTHES TO CHIC FRANCE
Primark will take its "cheap chic" to France later this year by opening a flagship store close to the Cote d'Azur.The UK chain has signed a deal to begin its French expansion in the city of Marseilles.

KEY FRANCHISE ROLE FOR SUSPENDED OFFICIAL
One of the three civil servants suspended over the £50m West Coast rail fiasco is now playing a key role overseeing a competition for a 15-year deal to run trains between London and the Essex coast.

THE WALL STREET JOURNAL
EUROPE

Bidders circle Rio Tinto ore business
Glencore Xstrata and Blackstone Group are among the suitors circling the Canadian iron ore operations that Rio Tinto has put on the block. The stake in Iron Ore of Canada could fetch $4bn.

Dell sets deadline for buyout vote
Dell filed proxy materials regarding its proposed acquisition by founder Michael Dell and Silver Lake Partners, announcing plans to hold a shareholder meeting 18 July to vote on the matter.