Tuesday Papers: Osborne plans 25% Treasury jobs cull - other news

Financial Times

* George Osborne is planning to cut staff numbers at the Treasury by about one-quarter and scale back his department’s role as he attempts to lead by example in the search for sweeping spending cuts across Whitehall.

* Irish banks are gearing up to repay more than €25bn of debt in the coming month, in what could prove an important test of investor sentiment towards the broader eurozone financial sector.

* Bank of Communications, China's fifth-largest lender, saw its net profit rise by 30% in the first half of the year.

* the “economic sentiment” index compiled by the European Union’s executive arm rose to 101.8 in August boosted by Germany’s growth spurt.

* Poland’s economy grew by an unexpectedly strong 3.5% in the second quarter, the country’s statistical agency said on Monday.

* Under a new rule, US companies may have to disclose the ratio between their chief executive’s pay package and that of the typical employee, lawyers have warned.

* The Bank of Japan on Monday announced an extra Y10,000bn in cheap six-month financing and the Japanese government outlined a Y920bn package of stimulative measures.

* Russian efforts to join the World Trade Organisation received a blow after prime minister Vladimir Putin announced plans for car tariffs to encourage foreign companies to invest in the country.

The Daily Telegraph

* Americans' disposable income fell 0.1% last month, according to a report on Monday from the Department of Commerce.

* Mining giant Rio Tinto will spend $1bn on a new iron-ore mine in Australia, despite the political uncertainty over the country's proposed mining tax.