What the other papers say this morning – 15 May 2013

FINANCIAL TIMES

JC Flowers buys debt collector Cabot
The private equity group run by Christopher Flowers is to acquire Britain’s leading debt collector, marking the former Goldman Sachs banker’s biggest ever deal in the country.

The deal is expected to value Cabot Credit Management at about £800m, including debt, according to people familiar with the asset. Mr Flowers’s last UK deal was the £50m his JC Flowers operation invested in building society Kent Reliance three years ago.

Heat off Dimon at JP Morgan
Some of JPM organ’s largest shareholders are sparing Jamie Dimon but voting against other directors in a contentious ballot on the board of the largest US bank, according to people familiar with the matter.

Roger Carr urges energy resolution
Britain faces a serious threat of the lights going out unless the country’s energy policy needs are resolved as a matter of urgency, the head of the UK’s biggest business lobby group, the CBI’s Roger Carr, has warned.

THE TIMES

Merlin refloats abandoned plans as public market regains its magic
Europe’s biggest theme park operator is poised to press the button on a £3bn-plus stock market flotation in London that is expected to propel it into the FTSE 100.

Moneymakers bring cash to Church
The Church of England is expected to announce some of its best financial results in recent years later today, with a 9.7 per cent return on investments for 2012.

The Daily Telegraph

EC ready to hit Chinese companies with sanctions over illegal subsidies
The European Commission plans to send a formal warning to China that it is ready to levy sanctions against telecoms kit makers Huawei and ZTE over illegal subsidies.

BBC staff paid £150,000 to move
The BBC has been criticised by the National Audit Office for providing “generous” allowances of up to £150,000 for staff moving to its new headquarters in Salford.

THE WALL STREET JOURNAL

Google to launch music streaming service
Google is set to launch a paid subscription music-streaming service akin to that of Spotify as soon as this week, according to people familiar with the matter.

Boeing resumes 787 deliveries
Boeing said that it had resumed deliveries of its 787 Dreamliner after a four-month hiatus. The jet was grounded world-wide in the wake of twin incidents involving its lithium ion batteries.