WHAT THE OTHER PAPERS SAY THIS MORNING

FINANCIAL TIMES

Universal in talks to hive off Parlophone
Universal Music is in talks to sell most of Parlophone, one of the crown jewels of EMI and home to Coldplay and Gorillaz, in an attempt to overcome the concerns of EU regulators reviewing its £1.2bn bid for the British recorded music group.

BMG, the music publishing joint venture between Bertelsmann and the private equity group KKR, has met Universal and expressed its interest in Parlophone, people familiar with the situation said.

China funds near deal for Dexia unit
Two Chinese private equity funds are closing in on a deal to buy the asset management arm of Dexia, highlighting the interest of Asian buyers in European financial assets as banks look to restructure in the wake of the financial crisis.

Barrick Gold slows down expansion
The world’s largest gold producer has signalled a new restraint on expansion, declaring it would no longer pursue size for size’s sake as it pruned growth targets and shelved projects.

THE TIMES

London hosts surprise party to end them all
Seven years of meticulous planning come to a spectacular climax tonight when the Olympic flame completes its 8,000-mile journey around Britain.

Cameron and Osborne ‘obsessed with 24-hour news’
A Tory peer has become the latest senior figure to tell George Osborne to concentrate on being Chancellor.

The Daily Telegraph

Oxford attacks Vince Cable's state school student target
Vince Cable, the Business Secretary, has told elite universities to increase the number of undergraduates they admit from working class backgrounds or face financial penalties.

Britain flew drones over Libya
RAF personnel flew armed remote-controlled drones over Libya against Col Muammar Gaddafi's forces.

THE WALL STREET JOURNAL

Bond Sale In Ireland Provides Hopeful Sign
The Irish government returned to the bond markets Thursday after an enforced absence of almost two years, marking an important step in its rehabilitation after its 2010 bailout.

German Consumers Remain Confident
German consumer confidence looks set to improve in August for the second month in a row, data showed.