What the other papers say this morning – 14 May 2013

FINANCIAL TIMES

Watchdog probes US swap contracts
A top US financial regulator has launched a broad inquiry into the legitimacy of more than 1m energy and metals transactions by the biggest traders in commodities markets over the past two years. The Commodity Futures Trading Commission has issued a “special call” for banks and traders to provide documents proving recent derivatives transactions were legal.

Fuel prices on display
Service stations will be forced to display the price of their fuel on motorway signs to help drivers avoid sky-high prices on long journeys, under plans being drawn up by Downing Street.

Sharif targets revival
Nawaz Sharif, newly-elected as Pakistan’s prime minister, will appoint private-sector managers to run ailing state companies to help revive economic investment.

THE TIMES

Severn Trent in talks over £5bn bid
Severn Trent, which supplies water and sewerage services to more than 4m in the Midlands and Mid Wales could be the target of a bid worth up to £5.3bn.

Royal Mail sell-off called poisonous
The Royal Mail sale could prove to be “a poisonous legacy” for the government, according to the think-tank Bow Group.

The Daily Telegraph

Lloyds boss: change banking image
Lloyds Banking Group chief executive, Antonio Horta-Osorio, has said the banking industry needs to fix its image problem to attract the best graduates.

Centrica stokes energy fears
Centrica has warned its rival EDF will take twice as long as planned to build the first new generation nuclear power stations.

THE WALL STREET JOURNAL

Bankruptcy costs attacked
Federal watchdogs are preparing to exert more control over costs in big bankruptcy cases for the first time in 17 years. The overhaul aims to cut fee and expense applications submitted by attorneys.

Volkswagen readies China factory
Volkswagen plans to build a new factory in Changsha, China, that would push car production capacity there to 4m by 2018.