What the other papers say this morning

FINANCIAL TIMES

New regulation takes up execs’ time
Top executives at UK financial firms are spending the equivalent of one day a week dealing with changing global and local regulatory requirements – much more than they did three years ago.

Frenesius drops hospital chain bid
Frenesius has buried its ambition to become the largest private hospital operator in Europe’s biggest market by dropping a four-mont-old €3.1bn takeover bid for Rhön-Klinikum, one of Germany’s leading hospital chains. The announcement from the German healthcare group came after two rivals bought stakes in Rhön to block the merger. Putting Germany’s two largest hospital chains together, they feared, would have had a profound effect on the hospitals and equipments markets.

Teva steps up defence of key drug
Teva, the world’s largest generic drugs group, is redoubling its focus on the quality of its medicines as it steps up efforts to defend its own blockbuster patented multiple sclerosis medicine from competition by stressing its extensive safety record and distinctive characteristics.

THE TIMES

German defence chief ejected
The German defence industry executive blamed for the woes of the Eurofighter Typhoon left the company yesterday in a move that may presage a wider management shake-up at EADS.

Hibu investors head for the exit
Shares in hibu, the name that Yell Group selected to distance itself from its troubled past, crashed 60 per cent to below half a penny after investors faced up to the prospect of a debt-for-equity swap.

The Daily Telegraph

Fyffes warns of higher banana prices Fyffes, the world's oldest fruit brand, reported a jump in profits but warned it may have to raise the cost of its bananas and pineapples due to higher costs.

Pentagon to fight SEC’s $100m fine
Lewis Chester, the former Conservative Party donor, has put his beleaguered hedge fund into administration in a move that could leave the US Securities and Exchange Commission nearly $100m (£63m) out of pocket.

THE WALL STREET JOURNAL

US Steel and union reach pact
The United Steelworkers announced a tentative three-year labour deal that covers 16,000 employees at US Steel Corp.

Baidu seeks mobile presence
Baidu released its own mobile-internet browser and said it would invest in a new cloud-computing center in a bid to gain more control over how internet users in China access the web through smartphones.