Papers examine City regulation plan

The line of papers queuing to praise Alistair Darling is noticeably shorter than those coming to bury him.

In its leader, the Daily Mirror says the Chancellor's proposed changes to city regulation would reduce the risk of another financial meltdown.

While the Financial Times describes it as a good start, it leads with the attacks on Mr Darling's plans.

"They failed to impress the City", the paper says, "and drew withering fire from the Conservatives".

'Halfway house'

The Times leads with a warning that more UK troops will die in Afghanistan but the words are not those of Defence Secretary Bob Ainsworth.

The new US commander of Nato forces says cutting down on the use of air strikes to reduce civilian deaths has made life more dangerous for troops.

In the Daily Telegraph, Lib Dem leader Nick Clegg has broken the cross-party consensus to question the government's strategy in Afghanistan.

He said the current situation was a "halfway house" which let troops down.

Comfort prisons

The Guardian publishes allegations about the News of the World hiring private investigators to hack into the mobile phones of high-profile people.

It claims more than a £1m was paid to settle legal cases that would have exposed the criminal methods.

The Daily Mail says UK taxpayers are to foot a £1m bill for a jail in Nigeria.

It says the plan to build a "comfortable" prison has come about because Nigerian nationals in UK jails cannot be sent home due to poor conditions.

Forever young

The Independent hails the "landmark pledge" by the G8 countries, including the US, to slash carbon emissions.

It said it was a "dramatic attempt to secure a new global deal to combat climate change".

Meanwhile, the Daily Express claims scientists have found the elixir of life in the soil of Easter Island in the Pacific Ocean.

It says an anti-ageing drug made from a compound found in the soil could add more than 20 years to a person's life.