What the other papers say this morning


Goldman “muppet hunt” draws blank
Goldman Sachs has told its board of directors that an internal investigation found little substance to allegations made by Greg Smith, the disaffected employee who claimed the bank has a “toxic environment” where bankers refer to clients as “muppets”. The review found that weeks before his public resignation – when he railed against Goldman staff who “care only about making money” – Mr Smith complained about his bonus and said he deserved to be paid more than $1m, said people familiar with the matter.

Weather hits Cotswold profits
Pre-tax profits at Cotswold Outdoor, the outdoor clothing retailer owned by Lion Capital, fell more than 60 per cent last year after it was hit by unfavourable weather conditions and the collapse of rival Blacks Leisure.

IMF sounds alarm on Japan banks
The huge and rising government bond holdings of Japanese banks leave them vulnerable to a spike in interest rates, the IMF has warned. Officials said domestic bank holdings of government bonds could rise to a third of their total assets within five years, from a quarter now.


Pizza Hut lined up by Rutland
A private equity firm that targets underperforming businesses, Rutland, has entered exclusive talks to acquire the Pizza Hut restaurant chain in Britain.

True Religion jeans seeks buyer
Dedicated followers of fashion appear to be losing the True Religion and the jeans retailer has decided to put itself up for sale. The American retailer became popular with celebrities when it launched a decade ago with its denims worn by Britney Spears and Jennifer Lopez.

The Daily Telegraph

Key West Coast calculations lost
The government lost or failed to save key calculations underpinning its decision to award the West Coast rail franchise to FirstGroup, a report commissioned by the Department for Transport shows.

IMF fears credit shock over Spain
The IMF issued a veiled warning that Spanish bond spreads could surge to a record 7.5pc and push the country into a deeper crisis if premier Mariano Rajoy continues to drag his feet on a bail-out request.


Tarullo calls for cap on bank size
Top Federal Reserve official Daniel Tarullo called on Congress to consider capping the size of the nation's financial firms, marking one of the most high-profile challenges to the way Wall Street does business.

Spotify signs Samsung TV deal
Samsung Electronics has struck a deal with Anglo-Swedish music-streaming service Spotify Ltd. that will allow direct streaming of music from Samsung television sets.