What the other papers say this morning - 7 August 2013

FINANCIAL TIMES

TPG looks for time to spend key fund
TPG, one of the world’s largest private equity companies, has taken the unusual step of asking investors in its $19bn flagship fund if it can have an extra year to spend $3bn of undeployed capital, underscoring the difficulty finding good deals in the aftermath of the global recession.It is hoping to convince investors in TPG VI to extend the investment period to February 2015 by offering to waive management fees and other charges that could amount to tens of millions.

Think tank pushes US territorial taxes
US companies would repatriate as much as $1.6 trillion – or the bulk of the cash they have stashed overseas – if America overhauls the treatment of international earnings in a reform of the tax code, according to a Republican-leaning think-tank.

Rubbish scheme to cut energy bills
The tedious job of taking out the rubbish is about to take on new meaning for thousands of householders in Southwark as London’s first waste-to-heating system gets the green light.

THE TIMES

Dixons starts clock on fast deliveries
Dixons Retail is introducing same-day delivery for online orders but admits that it is hard to know how popular it will become. The owner of Currys and PC World is introducing the deliveries for customers who order by 9am.

Kagazy takes action against founders
Kazakhstan’s largest paper company has taken legal action against its founders in London amid allegations of a £100m fraud.

The Daily Telegraph

BP triess to halt gulf spill payments BP has launched a fresh attempt to halt compensation payments for the Gulf of Mexico disaster, claiming it has uncovered evidence of corruption in the process.

Welsh Tories promise grammars
David Cameron’s refusal to allow the creation of new grammar schools will come under pressure as his Conservative Party promises a return to selective education in Wales.

THE WALL STREET JOURNAL

Obama urges mortgage overhaul
With the housing market finally on the mend, President Barack Obama outlined his vision on Tuesday for scaling back federal support of the nation's mortgage market, part of an opening bid to guide Senate talks to replace mortgage giants Fannie Mae and Freddie Mac. Nearly five years after Fannie and Freddie were seized by the government, Mr. Obama called for ending their business model.