What the other papers say this morning - 02 July 2014

FINANCIAL TIMES

Facebook faces experiment probe
A UK data regulator is investigating whether Facebook broke data protection laws when it allowed researchers to conduct a psychological experiment on users of the social network. The Information Commissioner’s Office said it was probing the experiment and planned to ask Facebook questions after widespread outrage when it was revealed at the weekend. The regulator said it would also be in contact with the Irish data protection body, because Facebook has its European headquarters in Dublin. A spokesperson for the ICO said it was too early to tell exactly what part of the law Facebook may have infringed.

Scotland yes camp losing battle
Campaigners for Scottish independence are not making enough progress to win September’s referendum on leaving the UK, according to the FT’s poll of polls.

Russia boost for Visa and Mastercard
Russia has raised hopes that Visa and MasterCard can continue operating in the country without paying hefty security deposits required under new legislation taking effect on Tuesday. If the two US credit card companies find ways by October 31 to process card transactions of Russian customers in Russia, the deposits will be reduced to zero, Russian media quoted Central Bank governor Elvira Nabiullina as saying.

THE TIMES

HSBC fined $10m over repossessions
HSBC has agreed to pay a $10 million fine to settle accusations that it failed to do enough to stop the US government being overcharged on mortgage foreclosure fees. The deal with the US attorney comes 18 months after Britain’s biggest bank was fined $1.9 billion (£1.1 billion) for allowing Mexican drug cartels to launder money.

Skipton to offer retirement advice
Skipton Building Society has pre-empted Treasury plans to offer free advice to everyone hitting retirement age from next April, launching a free retirement review service to anyone coming in to its 100 branches.

The Daily Telegraph

Savers lose out as banks cut Isa rates
Savers are unlikely to benefit from putting money into new Super Isas as official figures show banks have cut rates by a tenth since the Budget. The data was buried in a report published on the Bank of England website, which showed the average rate on cash Isas was cut from 2.07 per cent in March to 1.84 per cent by May.

Novartis faces charge in Japan
Swiss drug giant Novartis is facing criminal charges in connection with an employee who is accused of providing false data for a clinical trial into the company's best-selling blood pressure drug, Diovan.

THE WALL STREET JOURNAL

Lloyds treasurer headed to BofA
The treasurer of Lloyds Banking Group, Andrei Magasiner, is leaving the British bank for Bank of America, according to people familiar with the matter. Magasiner, who had run Lloyds' treasury function since 2009, will become chief financial officer of the global markets and global banking divisions.

United Biscuits considers float
British snack maker United Biscuits is weighing a year-end initial public offering. Bankers had been holding informal meetings with potential buyers in recent weeks, said people close to the matter.