What the other papers say this morning - 20 August 2013


US top trade official presses Japan
The top US trade official Michael Froman pressed Japan to open up its car and insurance markets as transpacific trade talks reach a critical stage, with negotiators trying to seal a deal by the end of the year.

Race for Africa investment tax deals
The surge in foreign investment in Africa has triggered a race among offshore financial centres to sign deals to reduce the tax bills of overseas companies and protect their investment on the continent, with Mauritius, Singapore and Luxembourg rushing to secure agreements. Last year, Africa received $50bn in foreign direct investment, more than double the level of 10 years ago, according to the UN.

Bundesbank forecasts steady growth
German economic growth should steady after a strong second quarter, the Bundesbank said, adding that the European Central Bank’s forward guidance on low interest rates was “not an unconditional commitment”.


Bupa buys retirement villages
Bupa has stepped up its push into the elderly care market with the purchase of five upmarket retirement villages. It has acquired Richmond Care Villages.

Beats seeks more investment
Headphone brand Beats is looking for fresh investors to fund its expansion into the consumer electronics market.

The Daily Telegraph

Loan scheme for small firms picking up
A government drive to arrest the decline of a flagship lending scheme for credit-starved small companies is finally paying off, new figures show. Lending through the Enterprise Finance Guarantee scheme reached £84m in the second quarter of 2013 – its highest level since March 2011. Credit provided through the EFG has grown by almost 25 per cent since the end of last year, following intervention from the Business Department.


21st Century Fox ups legal budget
21st Century Fox has increased by $110m the amount it is budgeting to cover additional legal costs tied to the alleged use of illegal reporting tactics at News Corp’s newspapers. A 21st Century Fox spokesman declined to comment.

Supplier to Ship Two Apple iPhones
Apple has asked Hon Hai Precision Industry to begin shipping both a new high-end and low-end iPhone in early September, sources said.