What the other papers say this morning – 1 May 2013


Fed weighs tighter cap on leverage
Federal Reserve officials are weighing a stricter cap on bank leverage, a move that would respond to increasing demands to constrain the riskiness of large lenders. According to people familiar with the matter, Fed officials have discussed increasing the amount of equity capital banks are required to hold, setting the bar higher than the 3 per cent of assets level agreed internationally. The move is being considered amid growing scepticism about the Basel III capital accords, which impose higher capital requirements

VAT tests Miliband after radio day
Ed Miliband admitted that Labour’s plans to cut VAT would lead to more borrowing. Labour’s leader had an awkward interview on Monday on BBC Radio 4, when he refused 10 times to admit that his plans would add billions to the national debt

Anger in UK over corporate tax deals
Opposition MPs in the UK have called for more transparency about tax settlements between big business and government after the publication of a leaked memo that reportedly said that four such deals had been settled for £4.5bn.


Sugar attacks bank failures
Lord Sugar has criticised banks for failing to fund young entrepreneurs, describing his TV show The Apprentice as a “type of charity” for stepping in to encourage enterprise in Britain.

Cinema deal gets OFT screening
The competition watchdog is to scrutinise Cineworld’s £47m takeover of its arthouse rival City Screen after ruling that the deal could result in higher prices and fewer screenings.

The Daily Telegraph

Energy crisis raises risk for UK giants
Britain's energy policy faces an “inevitable” crisis that will increase the political risk for UK giants such as Centrica, and SSE, a Liberum Capital analyst has warned.

Softbank billionaire at war with Dish
The battle to take over American mobile operator Sprint has intensified, with the billionaire founder of Japanese bidder Softbank launching a fierce attack on its rival, the satellite television firm Dish.


Obama seeks consensus on Syria
Barack Obama raised the bar for stepping up involvement in Syria, saying that not only the US, but the international community must concur that chemical weapons were used by the regime.

Yahoo CEO Mayer’s pay at $36.6m
Yahoo chief executive Marissa Mayer received $36.6m (£23.6m) in compensation last year after joining in July, according to a regulatory filing by the company.