FINANCIAL TIMES
CAMERON URGES BRITAIN TO EMULATE CHINA
David Cameron has urged Britain to emulate the “energy, hunger and drive” of China, India and Nigeria as he attempted to inject a mood of optimism amid the country’s stagnating economy. The prime minister told the Conservative party conference in Manchester that the world faced an economic crisis “as serious as it was in 2008” but insisted Britain could emerge stronger if it rejected a mood of “can’t do sogginess”.

FINANCIAL TIMES
EU SEEKS TO RETEST BANKS’ STRENGTH
Europe’s top banking regulator has started to re-examine the strength of the region’s banks, modelling a big writedown of all peripheral eurozone sovereign debt. The exercise, conducted by the European Banking Authority, could potentially identify capital shortfalls across the banking system of as much as €200bn ($266bn).

DAILY TELEGRAPH
HOUSEHOLD SPENDING AT LOWEST LEVEL FOR 10 YEARS
The amount families spent on groceries, petrol and other day-to-day items has shrunk for a whole year, official figures show. Household spending on essentials has fallen to its lowest level in almost a decade as families tighten their belts amid growing fears over the economy.