What the other papers say this morning - 11 April 2014

FINANCIAL TIMES

Banks urged to act over Heartbleed
A US regulator has warned that cyber criminals could be impersonating bank services or stealing users’ online banking passwords after the “Heartbleed” bug, called one of the most significant breaches of internet security ever, was discovered in the software used to secure two-thirds of the web. The Federal Financial Institutions Examination Council said on Thursday that banks using the Open SSL software should take steps to protect themselves by upgrading the software as soon as possible.

Firms rush for scarce City office space
London’s economic success is driving fierce competition for office space among the capital’s businesses, according to new figures. Businesses in central London are expanding rapidly and the amount of new office space they have rented is at its highest level for 14 years, data published by the real estate advisory firm CBRE shows.

GM recall crisis growing with faults
The recall crisis surrounding ignition switches on a series of General Motors vehicles substantially widened yesterday when the company said it would need to replace a second part on 2.2m recalled vehicles in the US. The company said it would replace ignition lock cylinders as well as ignition switches on the vehicles, because the ignition keys could be removed from the locks while the vehicles were in motion.

THE TIMES

Oxford BioMedica in trial blow risk
Oxford BioMedica has sounded the alarm bell about its finances months after it was forced to halt clinical trials for a new eye medication. Nick Rodgers, the chairman, said the biotechnology company’s “challenging” financial situation “may cast significant doubt on the group’s ability to continue as a going concern”.

Chinese cutting back on whisky
China has dropped out of the top 20 most valuable export markets for Scotch whisky for the first time in a decade as a result of the Beijing government’s austerity and antibribery drive. Shipments fell by 29 per cent last year to £51m.

The Daily Telegraph

Treasury could cut RBS stake
The government could start selling down its stake in Royal Bank of Scotland this year, according to City analysts, after the taxpayer-backed lender agreed a deal with the Treasury that could lead to the return of dividend payments. The deal to scrap the Dividend Access Share, which barred shareholder payouts, may accelerate the government’s exit, analysts at Jefferies said.

BlackBerry could sell handset unit
BlackBerry would consider exiting its handset business if it remains unprofitable, its chief executive has said, as the company looks to expand its corporate reach.

THE WALL STREET JOURNAL

Amazon buys digital comics provider
Amazon has agreed to acquire digital-comics provider Comixology, scooping up an app that has been a top-grossing performer on the iPad in recent years. Terms of the deal, which is expected to close in the second quarter, weren’t disclosed.

Zynga picks David Lee as finance boss
Zynga has appointed David Lee finance chief, as new chief executive Don Mattrick continues to reshape the videogame maker’s executive ranks. Lee joins the San Francisco-based company from Best Buy, where he served as senior vice president of finance.