What the other papers say this morning


Deutsche Bank urges rivals to share
Deutsche Bank is seeking to convince rival investment banks to share markets and trading software in an effort collectively to lower costs for the financial industry.

Law firms queue up for FSA panel
City law and accountancy firms are jostling for the opportunity to earn bumper fees by winning a coveted place on the UK financial regulator’s first panel of external experts called upon to undertake investigations at banks.
The Financial Services Authority will publish a preliminary tender questionnaire as early as next week for a four-year panel of advisers for so-called skilled persons reports.

Online traders targeted
Internet traders who sell goods through sites such as Ebay and Amazon without declaring their earnings face heavy penalties under an HM Revenue & Customs campaign. An amnesty offering regular traders the opportunity to pay lower penalties for not paying tax comes to an end today.


Logica owner to cut one in ten UK jobs after takeover
The new Canadian owner of Logica is cutting 700 jobs weeks after agreeing a £1.7 billion takeover of the British IT firm.

Planning reforms are likely to fail, warn councils
Most councils do not believe that the government’s planning reforms will lead to economic growth, according to a survey by property consultants GL Hearn and the British Property Federation.

The Daily Telegraph

FSA is harming UK housing market, says Redrow chairman Steve Morgan
The too-heavy regulatory burden on banks is stifling the housing market, according to Steve Morgan, the founder and chairman of housebuilder Redrow.

Russia deputy PM Arkady Dvorkovich casts doubt on Rosneft-BP deal
Russia’s Deputy Prime Minister has said he would oppose Rosneft buying BP’s stake in TNK-BP, the latest difficulty facing the British company in exiting the venture.


Disney takes film write-down
Walt Disney will book a write-down of around $50m for its fiscal fourth quarter tied to discontinuing some work at its studio division, Chief Financial Officer Jay Rasulo warned yesterday.

Acer postpones launch of Alibaba powered phone
Taiwanese PC maker Acer postponed the launch of its first smartphone using a mobile operating system developed by a Chinese company.