What the other papers say this morning


KKR launches funds for individuals
KKR – the private equity group immortalised as the Barbarian at the Gate – is launching two investment funds to be distributed to individuals by Charles Schwab, the US brokerage. It is the latest sign of the pressure on private equity firms to become more like traditional asset management firms. The move comes as buyout firms are finding it harder to identify reasonably priced companies to take private and are raising smaller funds than they did at the peak five years ago.

Redrow investors aim at director
Investors will today register one of the biggest protest votes this year in a move against Redrow’s senior non-executive director, Alan Jackson, because of his failure to block an attempt to buy the housebuilder on the cheap.

Call to raise council tax on mansions
George Osborne is being urged by leading Tory MPs to raise council tax on mansions and expensive homes as part of a deal with the Liberal Democrats that would see the chancellor cut welfare benefits in real terms next year.


Cridland: give banks a break
The CBI wants the government to bring in new laws to curb compensation payouts from banks for mis-selling PPI and other financial products. John Cridland is calling for a legal time limit on claims over payment protection insurance.

UK Financial Investments to move
The body that controls the taxpayer stakes in Royal Bank of Scotland and Lloyds Banking Group is to return to the Treasury, The Times has learnt.

The Daily Telegraph

Report says SFO suffering failings
The Serious Fraud Office is suffering from quality failings in staff, training and results according to a hard hitting government report to be published this month. The financial crime-fighting agency is expected to be told it needs to improve standards.

Universities paying to sign up students
Bright students are being offered financial incentives worth up to £10,000 to study at “lower-ranked” universities amid a scramble to fill undergraduate places.


Sawiris bids for Telecom Italia stake
Egyptian entrepreneur Naguib Sawiris has made an offer to invest as much as €5bn to buy a large stake in highly indebted Telecom Italia, according to people close to the telecoms company.

Toyota to expand in Indonesia
Toyota Motor said it would increase its bet on Indonesia, planning to spend up to $2.7bn to expand its capacity to better target the growing middle class in Southeast Asia's largest economy.