What the other papers say this morning - 22 April 2014

FINANCIAL TIMES

Anglo eyes SA platinum shift

Anglo American is preparing the ground for an exit from part of its South African platinum business, in what would be one of the miner’s most decisive shifts away from troublesome assets since Mark Cutifani became chief executive last year. The country’s platinum sector has been crippled for almost three months by a strike at mines owned by Anglo, Lonmin and Impala Platinum.

Nike moves away from wearable tech

The race to dominate the nascent wearable technology market is already witnessing early stumbles – even before one potential winner has finished limbering up. Nike is considering pulling its two-year-old FuelBand device out of the competition ahead of Apple’s entry into the market this year. Following a report on tech news site CNET, Nike confirmed it was laying off staff in its digital sports team and refused to commit to future devices.

Click-and-collect growth accelerates

Demand for goods ordered online but collected in stores could soon be growing faster than home delivery ordering, as consumers embrace click-and-collect services. According to figures from consultants OC&C, the volume of UK non-food sales made via the internet for collection in store will increase by 33m parcels this year.

THE TIMES

£36bn rebuilding schemes to begin

More than 200 projects to rebuild Britain by improving the roads and rail network, broadband coverage and flood defences will begin this year, David Cameron and George Osborne will reveal today. Taking advantage of improving economic figures before European and local elections, the prime minister and the chancellor will announce that £36 billion will be invested in Britain’s infrastructure this financial year.

Nido to bring upmarket digs to City

Nido, a builder of upmarket student digs in fashionable areas in London including Notting Hill and Shoreditch, is considering a flotation.

The Daily Telegraph

Formula One profits in the slow lane

Profits of Formula One, the motor racing series controlled by private equity firm CVC, fell by $137m (£82m) to $286m on an underlying basis last year, driven by accelerating payments under a new deal with the sport’s 11 teams.

GSK under pressure, say legal experts

British drug giant GlaxoSmithKline will come under more pressure from prosecutors in the UK and US after admitting that it is investigating bribery allegations in several countries, legal experts have said. The drug maker has been forced to admit it is looking into bribery allegations in four countries.

THE WALL STREET JOURNAL

EUROPE

Time Warner chief’s pay up 26pc

Time Warner’s chief executive Jeff Bewkes’ compensation rose 26 per cent to $32.5m (£19.4m), the company disclosed in a securities filing. The increase was primarily due to higher stock and option awards, which totalled $15.9m.

Caterpillar cuts CEO’s pay by 33pc

Total compensation for Doug Oberhelman, Caterpillar’s chairman and chief executive, declined 33 per cent last year, the company said in a securities filing. The decline from $22.37m (£13.3m) to $14.99m was largely due to a drop in option awards and incentive-plan payments.