Tuesday Papers: Brussels lifts eurozone's growth forecast - other news

Financial Times

* The eurozone’s economy will grow this year at nearly twice the pace forecast in the spring, the European Commission said on Monday; GDP in the currency bloc would grow at 1.7% in 2010, up from the 0.9% forecast in May, the Economic and Financial Affairs directorate said.

* Top bankers in the UK, US and Switzerland are braced for their national regulators to impose tougher capital requirements than those required by Sunday’s landmark global agreement.

* Saudi Arabia has large reserves of unconventional gas that could help the kingdom to meet soaring domestic energy needs and leave more crude oil available for export, the head of its national oil company, Khalid al-Falih, has said.

* Nokia is expected on Tuesday to reveal its latest flagship smartphone, the N8, and another new high-end device, the E7, at its annual product trade fair in London.

* Robert Moffat, a former senior executive at IBM, was sentenced to six months in prison after pleading guilty to charges arising from the Galleon hedge fund insider trading probe.

* China will keep up its campaign to bring the housing market under control, Premier Wen Jiabao pledged on Monday.

* Watchdog raps KPMG for signing off on audits before all necessary work had been completed.

The Daily Telegraph

* America and Europe face the worst jobs crisis since the 1930s and risk "an explosion of social unrest" unless they tread carefully, the International Monetary Fund has warned.

* US risks losing superpower status unless it tackles the deficit, Henry Paulson warns.

* Ex-Baugur boss Jon Asgeir Johannesson denies hiding assets in $2bn US lawsuit.