Monday Papers: Chinese data add to fears for recovery - other news

Financial Times

* The global economic recovery continues to sputter, with news of slowing expansion in Chinese manufacturing; The official PMI published by the China Federation of Logistics and Purchasing slid from 52.1 in June to 51.2 in July.

* Securities industry lobbyists calls to reconsider strict new “skin in the game” rules, which could affect the cost of financing anything from residential mortgages to car loans and credit cards.

* Some of Europe’s biggest banks are planning to issue contingent convertible instruments – nicknamed cocos – if regulators confirm they can count towards top-notch tier-one capital.

* Plans by BP to start drilling for oil and gas off Libya within weeks have prompted growing calls for a moratorium on deepwater operations.

* Greek truckers suspended a week-long strike on Sunday after the government threatened to revoke their licences and ordered the armed forces to deliver fuel to power plants and hospitals.

* UAE is to suspend BlackBerry mobile communication services from October because, it said, they operate outside its laws and raise national security concerns.

* The International Integrated Reporting Committee - a coalition of businesses, regulators, accountants, securities exchanges and not-for-profit groups - is launching an initiative intended to overhaul international company reporting. 

* Mortgage investors have been scaling back positions on fears that the US government might again intervene in the home loans market.

* Small and mid-cap mining companies are consolidating their assets so they are ready to speed up production in line with an improvement in global demand.

* The City of London’s largest office building is to house the new European headquarters of UBS after the investment bank agreed a deal with British Land and Blackstone to remain on the Broadgate estate.

* Rolls-Royce has become one of the first companies to produce an audit of how its activities add value to the UK economy.