Osborne fails to block Euro crackdown on City hedge funds - papers

But the Chancellor won a concession after the EU agreed to consider giving London hedge fund managers greater power to operate across the EU, writes the Independent. In a foretaste of battles to come, Mr Osborne also called on the EU to scrap plans for "unacceptable" rises in its Budget next year. David Cameron will attempt to build fresh European alliances this week when he meets French President Nicolas Sarkozy in Paris on tomorrow and German Chancellor Angela Merkel in Berlin on Friday. FULL STORY...