What the other papers say this morning

FINANCIAL TIMES

Fears over ECB funding scheme
Concern is mounting among senior bankers that the European Central Bank’s special longer-term funding scheme risks backfiring, stigmatising the region’s weaker banks a year after it was launched. From the end of January banks have the opportunity to start paying back the cheap three-year money they borrowed under the ECB’s longer-term refinancing operation. Bankers fear the early repayment window will hasten the advent of a two-tier banking market in the region.

Ikea founder questions expansion
Conflict appears to be brewing at the top of Ikea after the founder of the flat-pack furniture retailer expressed surprise over management’s plans to double the pace of store openings.

EU carbon prices crash to record low
The world’s biggest carbon market was left in disarray on Thursday, with prices briefly crashing almost 40 per cent in a matter of minutes, after European politicians rejected a plan to prop up prices.

THE TIMES

Moët billionaire boss moves
The richest man in France Bernard Arnault has transferred his multibillion-euro fortune to Belgium. Aides said he had made the move not for tax reasons but to ensure LVMH remained in the family when he died.

Timpson cobbles Snappy Snaps deal
The family behind Timpson is diversifying from shoe repairs into passport pictures through a deal to take over Snappy Snaps for a price of between £2m and £3m.

The Daily Telegraph

Boris: Junk rhetoric of austerity
Boris Johnson is to demand government “junks the rhetoric of austerity” and backs multi-billion pound investments in housing and transport. The Mayor will outline a plan to leaders in Davos.

BoA issues bond crash Fed alert
The return of confidence and healthy growth in the US risks setting off a “bond crash” comparable to 1994 and triggering a string of upsets across the world, Bank of America has warned.

THE WALL STREET JOURNAL

Toyota, BMW to share technology
Toyota and BMW said they will expand a technology-sharing pact, the latest sign of a deepening partnership. Toyota will provide BMW with technical know-how for fuel-cell vehicles.

Citi to pull SAC Capital investment
Citigroup’s private bank has decided to pull its $187m investment from SAC Capital, the latest client defections amid scrutiny of the hedge-fund firm.