What the other papers say this morning – 11 June 2013

FINANCIAL TIMES

US cracks down on currency tax fraud
US officials are targeting virtual currencies due to fears that Americans are using them to evade taxes, opening a new front in the crackdown on tax fraud. Virtual currencies such as Bitcoin and the exchanges where they trade have come under increased scrutiny since last month’s arrest of five individuals associated with Liberty Reserve, a Costa Rican-based digital currency business.

Watchdog critical of broadband plan
Whitehall’s spending watchdog will next month issue a “deeply critical” report on the government’s rural broadband rollout, attacking politicians for creating a “train crash” process that lacks transparency.

Hands to list Deutsche Annington
Guy Hands, the head of private equity froup Terra Firma, has fired the starter gun on taking one of Europe’s largest residential landlords to the public market.

THE TIMES

Osborne advised to drop bank prices
George Osborne is being advised to lower the sale prices for Lloyds Banking Group and Royal Bank of Scotland in an attempt to speed up a disposal. Senior Whitehall figures have told the Chancellor that he should reduce the published prices he needs to achieve to claim that he is breaking even on the government accounts. Osborne needs to achieve 407p a share for RBS and 61p for Lloyds.

The Daily Telegraph

Bigham’s founder insures senses
Jennifer Lopez insured her buttocks and Costa Coffee’s drink tester insured his tongue. Now Charlie Bigham, the maker of upmarket ready meals for Waitrose and J Sainsbury, is looking to follow in those footsteps by insuring all his senses for £12m to protect his fast-growing business. Bigham would be prevented from trying hot chillies, having his tongue pierced or eating the Japanese blowfish fugu.

THE WALL STREET JOURNAL

Italy’s left leads local races
The centre-left Democratic Party was leading in mayoral elections across Italy yesterday – a strong showing that could bode well for the stability of the national government. The elections mark the first time Italians have gone to the polls since an inconclusive national vote in February, which led to the creation six weeks ago of the “grand coalition” of left and right parties, led by Prime Minister Enrico Letta.