What the other papers say this morning - 15 April 2014


Sports Direct to sell online using credit
Sports Direct, the sportswear retailer controlled by Mike Ashley, is poised to begin selling on credit via its website, as it seeks to emulate the model successfully used by fashion chain Next.

Dave Forsey, chief executive of Sports Direct, said the company would begin offering credit to customers later this year.

“Next is one we try to benchmark ourselves against,” said Mr Forsey. “Their delivery options are fantastic for the consumer. [They take] credit accounts and cash. They started with not taking cash and only giving credit. We are the other way round, we started at cash [and we will] introduce credit.”

Junior partners rush to stump up equity to avoid tax crackdown
Thousands of UK lawyers, accountants and property consultants are scrambling to inject equity into their firms in an attempt to steer clear of a multibillion pound tax avoidance crackdown.

Healthcare pays off for WebMD
WebMD demonstrated that the US healthcare industry remains robust, its shares initially surging 20 per cent on the company’s latest earnings guidance. Shares in the healthcare website fell back to close almost 16.5 per cent higher at $43.87, after the company said first-quarter sales would be at the high end of guidance first offered in February and profits would beat those forecasts.


Carr’s sees green shoots of recovery
The British farming industry is looking up, with more investment being made in farms and heavy equipment. Carr’s Milling, the Carlisle-based agriculture, feed and engineering group, said that sales of machinery to farmers in the North rose by 29 per cent last year.

Court blow to rip-off schemes
The City watchdog has won a key battle in its war against rip-off schemes. The Court of Appeal judgment will make it harder for unauthorised schemes to claim that they are operating as an arrangement other than a collective investment scheme, and therefore are outside the FCA’s remit.

The Daily Telegraph

Walmart tells Beijing to improve food labelling rules after hefty fines
The supermarket giant Walmart has challenged China to make food manufacturers and suppliers more accountable for problem labelling, instead of placing the burden on retailers. Executives are reported to have met China’s Food and Drug Administration after being fined scores of times for labelling breaches.

Prosecco exports to the UK jump
The latest wine trends report from analysts at Rabobank shows exports of sparkling wine from Italy to the UK jumped by 40.2 per cent in 2013.


Europe’s junk-debt market peaks
Riskier companies are issuing debt at their fastest-ever clip in Europe, and now the market looks set to welcome its biggest offering on record. French cable operator Numericable Group started meeting with investors as it prepares to raise an equivalent of about €6bn from three chunks of high-yield, or junk, debt, denominated in both dollars and euros.

Twitter co-founders and CEO won’t sell
Some of Twitter’s biggest and earliest backers said they don’t intend to sell shares when rules barring them to do so expire on 5 May this year.