What the other papers say this morning - 29 April 2013


HFT platforms facing speed limits
High-frequency traders are facing “speed limits” for the first time on a major trading platform, under a proposal that is being touted as a template for a regulatory clampdown on computer-driven activity. EBS, which is one of the two dominant trading platforms in the foreign exchange market, is suggesting scrapping the principle of “first in, first out” trading, which it says gives an unfair advantage to the fastest computers and has led to an arms race of spending on technology.

Chat apps threaten texting cash cow
Chat apps such as WhatsApp and Apple’s iMessage have overtaken the text message as the favourite way to tap out a note to friends, undermining the traditional SMS cash cow for mobile operators. The data was collected for the Financial Times by Informa.

UK ministers to encourage fracking
The government is proposing to bribe communities with cheaper energy bills in exchange for dropping opposition to local fracking projects as part of plans to push ahead with shale-gas extraction.


Swaps victims says banks will win out
Hundreds of small businesses that were mis-sold interest rate “swaps” and forced into administration by their banks may be denied compensation. Instead, the banks that carried out the mis-selling may end up compensating themselves as the new owners of the businesses.

Post offices staff set for third strike
Workers in main post offices will strike today for the third time in a month. About 4,000 staff are set to walk out from 1pm.

The Daily Telegraph

RBS investment seen as key weakness
Royal Bank of Scotland’s scandal-hit investment bank has become the main source of weakness ahead of the taxpayer-backed lender’s announcement this week of its financial results for the first three months of the year.

F1 shakes up prize money before float
Private equity firm CVC Capital Partners has begun preparations to float Formula One on the Singapore stock market by the end of this year.


BYD to sell buses made in US
Chinese car maker BYD is setting up shop in the US, with small ambitions but a clear goal: get the government to subsidise the sales of its American-made electric buses.

France opening up to China
France is open to China buying some of its companies as Europe’s second-largest economy tries to foster more balanced trade relations with the Asian country and repair its wilting domestic economy, French Finance Minister Pierre Moscovici said.