What the other papers say this morning - 12 April 2013


Yen Libor probe focus on RBS

The head of Royal Bank of Scotland’s Japanese securities business is set to step down as regulators there move to sanction the UK-based lender in connection with the manipulation of benchmark interest rates. Ryusuke Otani, chief executive of RBS Securities Japan, is expected to announce his resignation this week, people close to the situation said. “As with many others in the sector, the group is assisting various regulators in their ongoing investigations into the setting of Libor,” the bank said.

Free apps probed over charging

Parents could soon be spared the shock of unexpected bills run up by their children after a consumer protection authority promised to crack down on “free” video games that encourage young players to spend money on virtual goods.

Cameron woos Merkel

David Cameron will restart his hastily aborted European charm offensive today, telling Angela Merkel that his desire for EU reform is more than just a “shopping list” of British demands. Mr Cameron said that there was “great common interest” between Britain and Germany.


Kier poised for battle

A full-blown takeover battle for May Gurney looks set to break out next week, with the directors of Kier, the construction group, likely to back a formal counterbid for the sought-after maintenance firm.

Cains Brewery pumps £50m

The Asian brothers who rescued the historic Cains Brewery in Liverpool from the threat of closure 11 years ago are planning a £50m redevelopment of the eight-acre site as a tourist, leisure and retail destination.

The Daily Telegraph

Shale gas could boost UK economy

Shale gas could provide “great economic benefits” to the UK, BP chief executive Bob Dudley has said, suggesting it could help to bring down Britain’s high gas prices.

Stobart chief to face proceedings

The chief executive of crisis-hit haulage company Stobart faces contempt proceedings over witness statements he made during a six-year battle with a “whistleblower”. He will appeal the ruling.


Exxon and Rosneft firm up LNG plan

The two energy giants may spend up to $15bn on a proposed facility on Russia’s Pacific coast which could start shipping gas by 2018.

Foursquare raises $41m in debt

Mobile startup Foursquare has raised $41m in debt financing, some of which can convert into equity, giving the company more capital to help it grow while nailing down a business model.