What the other papers say this morning – 5 June 2013

FINANCIAL TIMES

CQS to branch into equities
CQS, Europe’s biggest credit hedge fund by assets under management, is planning to branch into equities, in a sign that top managers are diversifying in response to the high levels of capital flowing into the industry. The London-based firm is planning the launch of “CQS equity long/short fund” to be run by David Morant, a former portfolio manager at SAC Capital, the hedge fund run by billionaire Steven Cohen that is at the centre of a wide-ranging investigation into insider trading.

Bond turmoil hits US mortgage rate
The average rate on a US mortgage has soared above four per cent for the first time in more than a year, reflecting recent turmoil in the bond market and threatening to undermine the Federal Reserve’s efforts to stoke the US recovery.

Google in wind farm deal
Google yesterday it struck its second renewable energy deal in less than a week, this time a 10-year agreement to buy electricity from a Swedish wind farm, six days after announcing its first African renewables deal.

THE TIMES

North-South divide still entrenched
The regional economic divide is as pronounced as ever, according to ONS research which indicates that pensioners in the south east of England are nearly twice as wealthy as those in the North.

China telcos put UK ‘at risk of attack’
Telecoms equipment made by Chinese companies should be independently tested by the Government to guard against cyber-attacks, an intelligence report will say.

The Daily Telegraph

Ex-Barclays chief driving US deal
Roger Jenkins, Barclays’ former head of investment banking in the Middle East, is buying up a string of luxury car dealers on the west coast of America with the aim of floating the company in New York.

Brussels fires shot in China solar war
Brussels has fired the opening shot in a trade war with China by imposing stinging import duties on Chinese solar panels, levies that will lead to major increases in the cost of renewable energy.

THE WALL STREET JOURNAL

US ramps up Iran sanctions
The US announced a new set of Iran sanctions, targeting a network of firms that officials said were front companies that reap billions of dollars in profits for Iran’s top leaders.

Obama aims at patent-holding firms
The White House announced a set of executive actions and policy ideas aimed at preventing certain patent-holding firms, known as “patent trolls” to their detractors, from abusing the system.