views

WHAT THE OTHER PAPERS SAY THIS MORNING

<strong>FINANCIAL TIMES<br /><br />SIEMENS IN BRIBERY ULTIMATUM</strong><br />Siemens yesterday told several former executive board members, including former chief executives Heinrich von Pierer and Klaus Kleinfeld, to agree to pay damages relating to a multibillion euro bribery scandal. The firm, Europe&rsquo;s largest engineering group, said seven former managers would face legal action if they failed to show willingness for a settlement by the middle of November.<br /><br /><strong>S KOREAN REGULATORS RELENT ON IPHONE SALES</strong><br />South Korean regulators on Wednesday ruled to allow the sale of Apple&rsquo;s flagship iPhone, kindling fresh competition in a handset market dominated by local manufacturers Samsung Electronics and LG Electronics. The ruling will end heated campaigns by consumer groups that accused Seoul of protectionism.<br /><br /><strong>STANCHART SUES INDIAN SUGAR FIRM</strong><br />Standard Chartered Bank has initiated legal action in Mumbai courts to recover about Rs50m ($1m) in losses from currency hedges sold to India&rsquo;s main sugar export/import company. The dispute over the hedges revives concern that many small and medium-sized enterprises in India have defaulted on what some estimate is about $5bn of currency derivatives that were sold to them by international banks during the boom years.<br /><br /><strong>MERCK TO PUBLISH GP PAYMENTS</strong><br />Merck is set to become the largest drugs company to start publishing details of its payments to doctors in the latest response to growing criticism of excessive industry influence over drug prescribing. Richard Clark, chairman and chief executive of the second-largest US drugs group by sales, said &ldquo;the system needs to be totally transparent.&rdquo; He also questioned whether there was a need for an annual ceiling on payments.<br /><br /><strong>THE TIMES<br /><br />BT TO DOUBLE NUMBER OF HOMES THAT CAN RECEIVE FAST BROADBAND<br /></strong>The availability of faster broadband to homes and businesses could double under ambitious plans by BT, The Times has learnt. The telecoms group will expand the reach of its copper line-based broadband network to cover 75 per cent of Britain, a move that will please rural dwellers who suffer slow broadband speeds.<br /><br /><strong>SHIPOWNERS BACK &euro;6BN GLOBAL CARBON SCHEME</strong><br />Shipowners are backing a global carbon trading scheme that could add as much as &euro;6bn (&pound;5.4bn) in extra cost on to maritime transport and push weaker shipping companies out of business. The proposals, announced yesterday by Britain&rsquo;s Chamber of Shipping, would seek to bring the global shipping industry into a carbon trading net.<br /><br /><strong>The Daily Telegraph<br /><br />MADOFF &lsquo;VICTIMS&rsquo; TO BE SUED</strong><br />The prospect of Bernard Madoff&rsquo;s clients battling each other in court is becoming increasingly likely after prosecutors said that half of those who invested in his Ponzi scheme withdrew more than they put in. Although the situation may lead to investors individually suing one other, it is thought more likely that Irving Picard, the court-appointed trustee attempting to recoup Madoff&rsquo;s assets, will pursue investors on victims&rsquo; behalf.<br /><br /><strong>ARBITER CALLED IN OVER TUBE DISPUTE</strong><br />Tube arbiter Chris Bolt has been called in to settle an increasingly acrimonious contract row between London Underground (LU) and contractor Tube Lines. LU asked the regulator to intervene after months of wrangling over the cost of upgrade and maintenance works on the Jubilee, Northern and Piccadilly lines.<br /><br /><strong>WALL STREET JOURNAL<br /><br />PHOENIX SUING LEHMAN BROS ARM</strong><br />UK insurer Phoenix Life is suing a unit of Lehman Brothers Holdings, accusing it of improperly transferring Phoenix collateral to the US before Lehman collapsed last year. Phoenix, a unit of Britain&rsquo;s Pearl Group, says Lehman moved the collateral without its knowledge, and it's asking a US bankruptcy judge to order the failed investment bank to return it.<br /><br /><strong>JAL WEIGHS SPLITTING OPERATIONS</strong><br />Japan Airlines will consider a breakup of the company along with a range of other options, according to a person familiar with the matter, as the ailing carrier faces pressure from lenders and the government to turn around its operations. Executives from JAL are scheduled to meet with Transport Minister Seiji Maehara Thursday to discuss plans to straighten out the unprofitable company.