Friday Papers: Deutsche lines up pre-Basel rights issue - other news

Financial Times

* Deutsche Bank is poised to raise €8bn-€9bn of new equity to strengthen its capital ratios.

* AIA has struck a distribution deal with Industrial and Commercial Bank of China as the Asian arm of AIG moves to consolidate its position as the leading foreign life assurer in China.

* George Osborne is to cut a further £4bn from the benefits bill for the jobless.

* Banking supervisors and central bankers from 27 countries will gather in Basel, Switzerland, this weekend to adopt what is set to be the most important regulatory reform package since the financial crisis.

* IG Group, the spread betting company, has recorded just 16% rise in first-quarter revenues to £79m, compared with the same period last year, due to weak trading volumes in August.

* Eurozone bond markets were boosted after Norway’s sovereign wealth fund stepped up purchases in the second quarter of debt of the troubled peripheral economies of Greece, Portugal and Ireland.

* Eurozone members that break the region's rules on public finances should be excluded temporarily from Europe’s political decision-making, Jean-Claude Triche, the president of the European Central Bank, has proposed.

* The S&P 500 index closed 0.5% higher; the FTSE All-World index ended up 0.7%; The FTSE Asia-Pacific Index added 0.9%, with Japan’s Nikkei 225 up 0.8% and South Korea’s Kospi up 0.3%.

* Japan has expressed concern about China’s recent sharp increase in purchases of Japanese government bonds.

The Daily Telegraph

* Michel Barnier, Europe's single market commissioner, has warned banks and hedge funds that Brussels plans to use its sweeping new powers over high finance to end abusive speculation and impose order on the City of London and other EU bourses.