What the other papers say this morning


JP Morgan sees surge in revenues
Executives at JP Morgan Chase will announce a jump in international revenues and increased cross-selling between the commercial and investment banks today, in the first investor day since the “London whale” trading debacle. The US bank’s executives are planning to announce that the prime brokerage, which serves hedge fund clients, has seen international balances increase by 80 per cent since 2010 after a push for new clients in Europe.

Alitalia chief executive in sudden exit
Alitalia’s chief executive has agreed to leave the struggling Italian national carrier by “mutual agreement” with the board, handing over the reins to its chairman and controlling shareholder.

Yum vows to tighten supply chain
Yum Brands is fighting to restore its image in China, vowing to tighten monitoring of its mainland supply chain after a chicken safety scare dealt a blow to its sales in the Asian giant.


Egypt to join Islamic markets
Egypt is planning to enter the Islamic finance markets for the first time by issuing a $1bn (£659m) Sharia-compliant bond.

We need help, pleads coal chief
The boss of UK Coal has called on the government to rescue his industry after a huge fire crippled the biggest pit in the country, threatening to put the company out of business and 2,500 people out of work.

The Daily Telegraph

Cardinal Keith O’Brien resigns
Britain’s most senior Roman Catholic clergyman has resigned over allegations of “inappropriate” behaviour with priests.

France to cut school summer holidays
France’s education minister has sparked uproar by proposing to cut summer holidays from eight to six weeks to prevent the country’s children falling further behind in international league tables.


Foreign money is revisiting Greece
Foreign investors are returning to Greece as fears of an exit from the Eurozone recede, signaling a possible turning point in the country's three-year-long debt crisis.

Companies leap into debt markets
The US corporate-bond market had its busiest session for new deals in more than a month, as firms finish the earnings season and switch their focus to funding needs.