What the other papers say this morning – 16 May 2013

FINANCIAL TIMES

US freezes Bitcoin accounts
US authorities have seized bank accounts belonging to the world’s biggest Bitcoin exchange, marking a signature moment in their dealings with the virtual currency.

The Department of Homeland Security won court orders freezing two accounts used by Mt Gox, the Japanese exchange which accounts for more than half of all trades between Bitcoin and government-backed currencies. Lawmakers have expressed concern Bitcoin could be used to evade checks against money laundering and terrorist financing.

Banker to chair media group Mecom
Mecom, the struggling European newspaper publisher, is to appoint a veteran banker as its chairman as investors ramp up pressure to sell assets. The London-listed firm is to appoint Rory Macnamara, a former M&A banker at Deutsche Morgan Grenfell.

Tractor maker hit by poor weather
John Deere shares fell more than four per cent yesterday as the agricultural equipment maker cut its full-year sales forecast because of global financial “pressures” and bad weather in the US.

THE TIMES

MegaFon dividend boosts Usmanov Russia’s richest man stands to become more than £250m richer after a Russian mobile phone operator announced plans for a huge dividend payout yesterday. Alisher Usmanov, who is also a major shareholder in Arsenal Football Club, is already worth £11.6bn.

Barclays accused of stealing deal
Barclays will appear in court today accused of going behind a client’s back to steal a £100m deal for itself. Barclays denies all the allegations.

The Daily Telegraph

Equitable Life victims’ details lost
The Equitable Life scandal has taken a fresh turn as the Treasury admits to destroying disc containing 350,000 victims’ names at an inquiry into the failed insurance company yesterday.

Camilla joins credit union
The Duchess of Cornwall is applying to join a credit union to support their bid to tackle payday lenders. Camilla yesterday met staff and members of the London Mutual Credit Union in Peckham.

THE WALL STREET JOURNAL

IRS head resigns amid scandal
The head of the US Internal Revenue Service resigned yesterday as the fallout widened from the tax agency’s treatment of right-wing political groups continues.

Abercrombie & Fitch sign deal
Abercrombie & Fitch yesterday said it had agreed to sign on to the Accord on Fire and Building Safety in Bangladesh. Abercrombie’s oral agreement is significant as it is a high-profile US retailer joining a wave of mostly European companies that have signed on.