WHAT THE OTHER PAPERS SAY THIS MORNING

FINANCIAL TIMES

CBI chief attacks lack of growth
The head of Britain’s biggest employers’ group has strongly criticised the government for the “really disappointing” implementation of its growth plan, asking: “Where are the diggers on the ground?” John Cridland, director-general of the CBI, said members of the government appeared to be “dazzled in the headlights”, resulting in a lack of progress on its growth plan seven months after George Osborne set out his plan to stimulate Britain’s sluggish economy.

US slashes corn production forecast
The worst drought in the US in 25 years has wrought havoc on the country’s most important crops, putting the global economy at risk of its third food inflation shock in five years.

Fund risk on convertible bond issues
An important area of global funding for companies is at risk of drying up as issuances of convertible bonds hit new lows. The bonds accounted for nearly half of funds raised in equity capital markets at the peak of their popularity nearly a decade ago.

THE TIMES

Heron designer back in the City
The Times understands that WR Berkley has assembled a site near the Lloyd’s of London building and has appointed the architect Kohn Pedersen Fox to design a skyscraper.

GSK beats world leader in drug trials
A daily antiretroviral drug for treating HIV developed by GlaxoSmithKline has beaten a key rival in clinical trials, giving the company access to a market worth £2 billion a year.

The Daily Telegraph

Strong pound dents exports
Britain's export-led recovery has been jeopardised by the appreciation of the pound to a three-and-a-half year high against the euro, undoing the advantages gained by slashing interest rates and launching quantitative easing.

Virgin Galactic spaceship in UK debut Sir Richard Branson says 529 people have put down deposits to travel into space with Virgin Galactic as the company unveiled its aircraft in the UK for the first time.

THE WALL STREET JOURNAL

Cartier sees slowdown in China
Cartier, the luxury jewelry brand, is seeing slowing demand for its high-end watches in China, the driver behind the recent boom in luxury watches, its chief executive said yesterday.

United Technologies nears deal
United Technologies is likely to settle on a private-equity buyer for two units of its Hamilton Sundstrand subsidiary in the coming weeks, a deal that could raise between $3bn and $4bn, people familiar with the matter said.