WHAT THE OTHER PAPERS SAY THIS MORNING

FINANCIAL TIMES

Facebook hit by glitches after email switch
Facebook has been racing to deal with a series of technical glitches after making a controversial change to its members’ email settings that has been criticised as a way to promote its service at the expense of competitors.

African minerals names new head
Frank Timis plans to step back from running African Minerals, relinquishing the role of executive chairman following the recruitment of a new chief executive. Keith Calder will replace Alan Watling as chief executive, with Timis handing over operational control in due course.

Ireland returns to international debt markets
Ireland will return to international debt markets tomorrow for the first time since it was forced into an EU and IMF bailout when it holds an auction for three-month treasury bills. Ireland’s National Treasury Management Agency said it would sell €500m worth of bills maturing on 15 October in the first debt auction it has held since September 2010.

THE TIMES

Oxford University Press learns an expensive lesson
One of Britain’s most respected academic publishers will hand over £1.9m in ill-gotten sales after it emerged that it had paid bribes to win contracts in Africa.

North Sea oil minnow prepares to join big fish in London markets
Caithness Petroleum, say those in the know, has hired Bank of America Merrill Lynch and Morgan Stanley to help to persuade investors to sign up for shares.

The Daily Telegraph

Boeing says 34,000 new jets needed
According to plane-maker Boeing, £2.9 trillion worth of passenger jets will be required by airlines in the next 20 years. Global airline traffic will rise by five per cent per year while cargo traffic will increase by 5.2 per cent.

Virgin slams competition body
Virgin Media accused the Competition Commission of “irrational” behaviour after it scrapped plans to curb BSkyB’s stranglehold on buying movie rights.

THE WALL STREET JOURNAL

Spain says aid may flow straight to banks
The terms of an agreement to provide up to €100bn in EU aid to Spain’s banking sector will probably allow the funds to be channeled directly to banks, Spain’s finance minister said yesterday.

ECB tightens lending rules on banks
The European Central Bank yesterday tightened its lending conditions in what seems a foretaste of the more active role it will soon have in Eurozone banking.