WHAT THE OTHER PAPERS SAY THIS MORNING

FINANCIAL TIMES

M&S to charge for current accounts
Marks and Spencer is set to become the first UK bank to shun free current accounts as it plans to charge all customers a monthly fee for banking services when it launches later this year.

The retailer said it would offer two accounts, priced at £15 and £20 a month when its first branch opens tomorrow.

Brussels probes Windows 8
Brussels is investigating allegations that Microsoft’s flagship Windows 8 operating system will unlawfully stifle competition, resurrecting the antitrust troubles that tormented the US group for more than a decade.

EU to push for Japan trade deal
The European Commission is today expected to ask EU member states for permission to negotiate with Japan on a free trade agreement – putting it on a collision course with the bloc’s struggling carmakers. If concluded, an EU-Japan free trade agreement would rank as the world’s largest, uniting two trading partners that account for roughly a third of global economic output.

THE TIMES

Brussels moves on bonuses
The European Commission has opened the door to a possible compromise over controversial bonus rules that have provoked fears of an investment banking exodus from London.

Green investors left blowing in wind
Plans to invest billions of pounds in new wind farms and biomass plants were left in limbo yesterday after the government missed its latest deadline to set consumer-funded subsidies.

The Daily Telegraph

Homeserve rejects buyout approach
Homeserve, the embattled FTSE 250 home repair and insurance company, has been approached by private equity buyers looking to bid up to £1bn to take the company private.

Universal to sell three record labels
Universal Music could sell three EMI labels including Virgin Records to push its takeover of the group past EU regulators. Universal has been warned the deal could be vetoed under competition grounds

THE WALL STREET JOURNAL

Spain’s bank chief admits mistakes
Spain's new central bank chief Luis Maria Linde said the bank failed to act swiftly after the country's housing market crashed half a decade ago, a rare show of self-criticism of national institutions.

Inclement weather hits sugar rush
Sugar prices have soared over recent weeks as unseasonably wet weather has raised concerns over the size of Brazil's crop and demand has surged ahead of the Ramadan holiday.