What the other papers say this morning

FINANCIAL TIMES

EU to foster unified telecoms market
Europe’s telecommunications commissioner will lay down a series of far-reaching reforms this year to support the formation of a pan-European telecoms market, in order to foster greater competition and investment in a sector hard hit by the financial downturn.

FTSE 100 chiefs offer best value
Chief executives of large companies deliver far greater value to shareholders than those at smaller groups, according to research published today. The best performers are Peter Voser of Royal Dutch Shell, Stuart Gulliver of HSBC, Sir Andrew Witty of GlaxoSmithKline, Vittorio Colao, of Vodafone, and Octavio Alvidrez of Fresnillo, all FTSE 100 bosses, according to Patterson Associates.

EU redrafts plan for bank rescues
Brussels is consulting on possible new rules for indices that serve as benchmarks in financial contracts following the Libor scandal. Eurozone countries facing Irish-style bank collapses will still have to shoulder a large portion of future bailouts if they want to receive Eurozone aid.

THE TIMES

Willetts lobbies for AstraZeneca jobs
The Science Minister David Willetts has lobbied the NHS to increase its use of an AstraZeneca heart medicine, amid mounting political concern about the drugs company’s commitment to British jobs.

Banks snub Clegg’s housing scheme
A flagship announcement by Nick Clegg to help first-time homebuyers to raise money for a deposit has been rejected by the banking industry.

The Daily Telegraph

French capital flight spikes
France suffered a surge of capital flight over the autumn as president Francois Hollande pushed through a raft of tax rises and stepped up his campaign against the rich. Fresh data from the Banque de France show a sudden rise in outflows in October and November.

GSK accused of disregarding suppliers
GlaxoSmithKline has been accused by a small business group of taking up to three months to pay suppliers.

THE WALL STREET JOURNAL
EUROPE

Egypt court orders Mubarak retrial
An Egyptian court re-opened a sensitive political wound yesterday when it overturned former President Hosni Mubarak's life sentence for his role in the deaths of hundreds of protesters during the country’s revolution two years ago, and ordered a retrial.

HTC to sell smartphones in Myanmar
Taiwan’s HTC is taking its smartphones to Myanmar, joining an expanding list of foreign firms seeking a foothold there.