What the other papers say this morning - 24 April 2014


Deutsche Bank under pressure
Deutsche Bank is facing pressure from investors to raise capital amid fears the bank is still not robust enough to cope with a tougher regulatory environment and a slump in global debt markets. Insiders at Germany’s largest lender are understood to accept as a real threat that the European regulators will direct them to raise fresh equity after eurozone-wide bank health checks later this year.

AIG offers insurance for cyber injury
AIG is offering a new type of insurance policy to compensate companies for cyber attacks that damage property and even harm people in response to rapidly evolving cyber security threats. The new policy is the first of its kind from a major insurer and marks an expansion of the nascent cyber insurance market beyond corporate losses arising from data breaches.

Ardian raises $9bn to buy bank assets
Ardian, the Paris-based private equity fund manager, has raised $9bn to buy assets from banks and insurers that are under regulatory pressure to boost their capital in the wake of the financial crisis. The marketing effort has resulted in the largest fund ever raised for this type of investment, which consists of existing stakes in partially or fully invested private equity funds that investors want to sell on the secondary market to cash in early. Ardian’s new fund exceeds the $7bn pool the group had amassed less than two years ago.


Peter Rabbit burrows into China
Peter Rabbit is set to become a TV staple for millions of Chinese children as part of a landmark deal struck in yesterday. Pact, which represents UK TV producers, reached a deal with China’s state-owned broadcaster that will generate sales of UK TV shows, new commissions and joint productions.

Solar farm in Cameron’s back yard
A solar farm is to be developed this summer on a former wartime airbase in David Cameron’s Oxfordshire constituency. The 144,000 ground-mounted panels being installed by RWE, the German-owned energy group, 19 miles from Oxford will generate enough electricity for 10,000 homes.

The Daily Telegraph

Zynga founder Pincus to step back
Online game maker Zynga says founder Mark Pincus is stepping down as product chief, less than a year after he was replaced as the company’s chief executive. Zynga says Pincus will remain chairman of the company he founded in 2007. Don Mattrick replaced Pincus as chief executive in July. He was previously in charge of Microsoft’s interactive entertainment division.

Online delivery service raises £50m
The owner of Hungry House, an online food delivery service, has raised $85m of fresh funding as it looks to defend its market share against recently floated rival Just Eat.


IBM Unveils Servers with new chips
International Business Machines yesterday unveiled the first computers based on its latest microprocessor chips, the technology behind a high-stakes effort to help revive IBM’s sagging hardware business and take sales from Intel. It is also discussing plans for products with rival firms stemming from its decision to license its new Power8 chip technology.

GE puts Ex-Vanguard chair on board
General Electric yesterday named John J. Brennan, a former chairman of mutual fund Vanguard Group, as lead independent director on its board.