WHAT THE OTHER PAPERS SAY THIS MORNING

FINANCIAL TIMES

Call for French business boost
French business urgently requires shock treatment to cut labour costs and boost its flagging ability to compete on international markets, top economists and business leaders have warned Francois Hollande.

ArcelorMittal refuses to rule out EU steel closures as demand falls
ArcelorMittal has refused to rule out further site closures in Europe as the global steel industry enters what some observers fear could be a five-year spell of overcapacity linked to signs of a severe slowdown in demand and consumption in China.

FTSE 100 total pension deficits soar
The total pension deficit at the UK’s largest companies has more than doubled over the past year, hit by falling bond yields and volatile markets. The combined deficit rose from £19bn at the end of June last year to £41bn at the end of May in the annual analysis of 83 FTSE 100 companies by actuarial consultants Lane, Clark & Peacock, to be published tomorrow.

THE TIMES

Asda joins race to “replace” battered high street banks
The plunging popularity of banks has prompted Asda to follow its closest rivals in taking an aggressive step into the world of personal finance.

Oil explorers get tax breaks to help quit North Sea
Offshore oil explorers are to be given deeds by the Treasury guaranteeing tax relief to offset the multibillion-pound cost of dismantling North Sea equipment.

The Daily Telegraph

BP is dragged into SFO “bribery” investigation
BP is facing a Serious Fraud Office investigation relating to work the company has been involved with in Azerbaijan.

German president tells Merkel to come clean on EU debt deal
German president Joachim Gauck has ordered Chancellor Angela Merkel to clarify exactly what she agreed at the EU crisis summit.

THE WALL STREET JOURNAL
EUROPE

Boeing to expand lead in orders over Airbus
Boeing looks set to start Europe’s big air show with orders from at least two leasing companies – deals that should help the US plane maker consolidate its lead in orders over Airbus this year.

Thousands could lose internet
Thousands of people whose computers were infected with malicious software more than a year ago faced the possibility of not being able to get online today.