Monday Papers: Financial Services firms wait for growth -- other news

* The majority of global financial services companies expect to see no return to growth until the first six months of 2010 or even later according to Ernst & Young

* A saxophone-shaped recession a blow to the chancellor, according to BDO Stoy Hayward

* London office lets increase by 98%, according to research by NB Real Estate

* Alistair Darling refuses to rule out a pay freeze for the public sector

* The G8 countries will this week announce a 'food security initiative', controlling more than $12 billion for agricultural development over the next three years, in a move that signals a further shift from food and to long-term investments in farming in the developing world

* Investment banks, including Goldman Sachs and Barclays Capital, are investing schemes to reduce the capital cost of risky assets on banks' balance sheets, in the latest sign that financial market innovation is far from dead

* Nomura is in exclusive talks to move its UK business, including teams acquired from Lehman Bros, into an office development in the City of London; Canary Wharf will be a casualty

* The CBI is urging the government to adopt an 'alternative redundancy' scheme this autumn that it said could stem job losses as unemployment heads towards three million

* Barack Obama used an interview with a Russian opposition newspaper on the even of Monday's US-Russia summit to back President Dmitry Medvedev's promises to boost freedom and the rule of law

* Opportunistic Wall Street gears up to trade in California IOUs

* Travel sector is braced for a surge in holiday season internet and telephone payment fraud attempts as financial crime responds to the recession and improves credit card security

* Head of World Trade Organisation, Pascal Lemy, warns bail-outs of the world's banks pose a threat to free trade

* The construction industry faces a 'lost decade' that will prevent a return to recent levels of activity until close to 2020, according to industry sources

* The continued strength of the euro is forcing European companies to step up cost-cutting to compete with rivals for the US and elsewhere

* Bank of America knocks UBS off top spot in private banking league

* Today's release of the US ISM non-manufacturing survey could fan flames of optimism

* Former Marks & Spencer chief Sir Richard Greenbury has blasted shareholder groups for their 'vindictive' attitude towards Sir Stuart Rose, the group's executive chairman

* Vanni Treves, chairman of Equitable Life, is considering standing at the general election as an independent Member of parliament

* China poised to overtake UK in advertising league

* Two more British soldiers killed in Afghanistan as Hellman offensive continues

* Roger Federer seals his place in history as the No 1 tennis player in the world after his marathon victory over Andy Roddick at Wimbledon