What the other papers say this morning - 03 April 2014

FINANCIAL TIMES

Greek government’s video turmoil
The Greek government was plunged into chaos on Wednesday after the release of a video showing the prime minister’s chief of staff having a politically embarrassing conversation with a senior member of the neo-Nazi Golden Dawn party. Takis Baltakos, cabinet secretary and one of premier Antonis Samaras’s closest aides, resigned after a video appeared on the internet showing him claiming that the government had ordered the arrest of Golden Dawn lawmakers without having enough evidence. Mr Baltakos admitted the film of his discussion with Ilias Kassidiaris, the Golden Dawn party spokesman, was genuine.

Alibaba invests in ride-sharing app
Chinese ecommerce company Alibaba and prominent Silicon Valley venture capitalists Andreessen Horowitz have teamed up to invest $250m into the US ride-share app Lyft. Lyft’s previous round of investment had valued it at $700m.

UK racehorse sales in China deal
Newmarket’s thoroughbred sales will soon be catering for the discerning Chinese investor after the signing of a bilateral agreement allowing top British racehorses to be shipped off to gallop in China. The growing Chinese appetite for racing and breeding led to an agreement last year with Dublin to export Irish thoroughbreds. France has also signed a deal.

THE TIMES

Prada pulls in belt amid weak demand
Leather handbags and other luxuries from the world of high fashion will fall out of favour this year, according to Prada. The Italian designer, whose ostrich leather top-handle bag sells for more than £5,000, said that weak demand from Europe and the effects of a crackdown on corruption in China would hit luxury goods makers this year.

Ambassador summoned over Gibraltar
Britain summoned the Spanish Ambassador to the UK yesterday over a “provocative incursion” by a research ship into waters around Gibraltar.

The Foreign Office condemned the incursion.

The Daily Telegraph

Channel 5 bids to be half asking price
The sale of Channel 5 is expected to attract bids of less than half the £700m price tag attached to the broadcaster by its owner Richard Desmond. Any second round bids are likely to be pitched at around £200m or £300m, according to sources, as prospective buyers have been allowed greater access to Channel 5’s accounts.

Schengen concerns over UK tourism
Businesses have warned that the UK is in danger of losing out on an even greater number of high-spending Chinese tourists to rival economies on the continent, as the European Commission seeks to speed up and simplify the Schengen visa process.

THE WALL STREET JOURNAL

Tesla breaks sales record
Tesla Motors' hot streak in Norway gained additional steam in March, with its electric Model S sedan breaking the previous record for monthly sales of a single model—regardless of how it is powered—in the small Nordic nation.

Lufthansa pilots on three-day strike
Lufthansa pilots began what could become the longest walkout in the German airline's history, grounding 3,800 flights over the next three days, in a protest over changes to retirement benefits.
The three-day strike will affect some 425,000 passengers on the premium Lufthansa service.