What the other papers say this morning

FINANCIAL TIMES

Emails tell of EADS payments fears
Senior EADS executives were alerted five years ago about questionable payments made to Cayman Island bank accounts and lavish gifts given to the Saudi Arabian royal family and military by a British subsidiary that is now the subject of a criminal probe by the UK’s Serious Fraud Office.

Housebuilding push to be unveiled
Ministers are preparing to unveil a new package of measures next month to stimulate the flagging housebuilding sector, in an attempt to help drag Britain out of recession. The plan has been drawn up by Oliver Letwin, the prime minister’s head of policy, along with Grant Shapps, housing minister, and Danny Alexander, chief secretary to the Treasury.

INM receives offer for S Africa unit
Independent News & Media, the indebted Irisih media group, has received a €240m offer for its South African media business from a local consortium but said it would continue to explore interest from other possible bidders.

THE TIMES

Curtain finally down on Tyco fraud
For nearly a decade Dennis Kozlowski lived the high life, splurging millions of dollars of company money on art, property and even a $6,000 shower curtain. But now the former Tyco chief executive is to be relieved of his ill-gotten gains.

The key to the door gets cheaper
Hotel operators across Europe are being forced to cut room rates to attract guests as the Eurozone crisis hits corporate budgets.

The Daily Telegraph
Three guilty of £10m Ponzi scheme
Three individuals who funded luxury lifestyles in Majorca by cheating investors of their life savings have been convicted of running a multi-million pound Ponzi scheme.

Pope’s butler to stand trial
The Pope's private butler stole a raft of documents from the Pontiff's own office as part of a campaign to rid the Vatican of "evil and corruption", it was claimed as a judge ordered him to stand trial.

THE WALL STREET JOURNAL

Focus Media gets buyout offer
The head of Focus Media Holding and other investors are offering to take the Shanghai-based advertising company private in a $3.66bn deal that would remove it from the sceptical eye of US investors.

Facebook shares unlocking
An avalanche of privately held Facebook shares could begin hitting the market this week, as rules expire that have kept some early investors from cashing out.