What the other papers say this morning - 09 April 2014

FINANCIAL TIMES

Heartbleed bug threatens web
A flaw has been discovered in a encryption method used on about two-thirds of all websites, including Google, Amazon, Yahoo and Dropbox, potentially exposing web traffic, user data and stored content to cyber criminals.

The heartbleed bug was found in the OpenSSL software by a team of security engineers last week, leaving technology companies scrambling to fix their systems before it was announced on Monday night. There is so far no evidence that a hacker has exploited the flaw, which has made systems vulnerable for up to three years. OpenSSL has released an update to repair the flaw and companies must update their software.

Doubt cast over pensions policy
A crucial plank of George Osborne’s Budget pledge to revolutionise the pensions system has been called into question by the industry expected to play a big role in implementing it.

Insurance companies cast doubt on the chancellor’s promise to offer every pensioner in the country “free, impartial, face-to-face advice” as part of his far-reaching retirement reforms.

Irish president visits the Queen
The Irish president has celebrated a “closeness and warmth that once seemed unachievable” between London and Dublin during an historic first visit to the UK by an Irish head of state.

THE TIMES

New York shrugs off Alcoa loss
Alcoa kicked off America’s spring earnings season last night by reporting a first-quarter loss that nonetheless still managed to beat the market’s expectations. Shares in the global aluminium producer rose amid relief on Wall Street after it reported a net loss of $178m on net income of $149m last year.

Irish dental deal for Oasis Healthcare
A nationwide dental chain chaired by Sir Stuart Rose, the former Marks & Spencer boss, is to expand by buying an Irish rival in a deal worth £30m. Oasis Healthcare is acquiring Smiles Dental, founded in Dublin a decade ago.

The Daily Telegraph

Nato warns Russia over Ukraine fears
Nato warned Russia on Tuesday against making an “historic mistake” by provoking a flaring secession crisis in eastern Ukraine that Moscow itself conceded could degenerate into a civil war.

Ladbrokes to buy Australian Betstar
Ladbrokes is poised to announce its second acquisition in Australia after swooping on online betting company Betstar in a deal believed to be worth between AS$20m (£11m) and AS$25m.

The bookie, whose chief executive Richard Glynn is fighting to save his job, bought the operator of Australian gambling website Bookmaker.com.au last September for an initial AS$22.5m.

THE WALL STREET JOURNAL

Gazprom pushes ahead with pipeline
Russia's state-run energy giant wants to build a €16bn ($22bn) pipeline to send natural gas from Russia, across the Black Sea, and into Italy. The route avoids Ukraine. Gazprom executives were in Brussels trying to press ahead with the project this week.

€3bn syndicated loan for Peugeot
French auto maker PSA Peugeot Citroën has arranged a €3bn ($4.14bn) syndicated loan that will bolster its finances once it has carried out a far-reaching capital restructuring in the coming weeks.