Papers

Alistair Darling must replace the Bank of England's financial stability chief in favour of someone with extensive City experience, the Shadow Chancellor said, The Telegraph reports.

The slump in Britain's house prices accelerated in May to the fastest level since the Nationwide began records 17 years ago, The Times reports.

Royal Bank of Scotland will today learn which of seven suitors are throwing their hats into the ring for its insurance business, potentially sparking a £7.5bn bidding war, as the group looks to offload the asset by the end of the summer, The Independent...

A consortium of Qatari state-backed investors is preparing to invest up to £5bn in UK and European commercial property, The Telegraph reports.

The number of commercial property loans in default has soared 400% in just 12 months, according to a report due to be published today, The Telegraph reports.

A top cast of European statesmen has issued a blistering denunciation of financial markets and called for a creation of a pan-EU body to protect the citizens against the "social risk" posed by modern capitalism, The Telegraph reports.

Taxpayers' money tied up in Northern Rock is more at risk than first thought, the nationalised lender's chairman, Ron Sandler, has conceded, as the credit crisis threatens to undermine its restructuring, The Telegraph reports.

Citigroup announced plans yesterday to extricate itself completely from new sub-prime lending in Britain, with the loss of up to 700 jobs, The Times reports.

The insurance bond market will plummet by around £20bn following the controversial changes to capital gains tax, according to estimates, The Telegraph reports.

New Star Asset Management, the credit crunch-hit fund set up by star trader John Duffield, warned yesterday that the trading environment remains challenging but added that performance of some of its funds is improving, The Telegraph reports.