What the other papers say this morning


JPMorgan’s Gulati launches fund
JPMorgan’s global head of equity proprietary trading is quitting to set up a hedge fund in Switzerland in what will be the first prominent launch of a fund since several bank spinouts floundered last year. Deepak Gulati, once one of the bank's star traders, will launch Argentière Capital probably in the second or third quarter of this year, according to two peopel familiar with the plans. In a snub to London, Europe’s main hedge fund centre, the firm will be based in Zug, the low tax Swiss canton.

Browett returns to UK high street
The Briton who left Dixons for a short stint as head of Apple's global retail stores is returning to the UK high street as the new chief executive of Monsoon Accesorize. John Browett's appointment comes just three months after he abruptly parted company with Apple.

Dell defends $24bn buyout price
Dell has sought to counter rising shareholder anger over its planned $24.4bn buyout, as debate among investors turned to whether founder Michael Dell and Silver Lake will be forced to increase their offer for the company.


Walt Disney must split top roles
The second-largest public sector pension fund in America has renewed its drive to force Walt Disney to split the roles of chairman and chief executive and temper executive pay awards.

Blue Inc goes for Republic stores
Blue Inc, the fashion chain for the young, is in negotiations to buy as many as 50 Republic stores out of administration. A purchase of about 50 of Republic’s 121 stores could safeguard about 1,000 jobs.

The Daily Telegraph

Apple complaints force cider change
So many people call the Wroxham Barns store enquiring about gadgets, it has decided to ditch the word Apple altogether. The Apple Shop will be known as The Norfolk Cider Shop instead.

Britvic and AG Barr to press ahead
Britvic and AG Barr will battle regulators over their proposed £1.4bn drinks merger after it was referred to the Competition Commission. An investigation by the CC is expected to take six months


SAC moves to stem investor outflow
SAC Capital Advisors, the hedge-fund firm that is seeking to stave off client defections amid legal and regulatory scrutiny, is offering investors a more-flexible timeline to withdraw their money.

CBS profit rises and ad sales pick up
CBS’s net income rose six per cent in the fourth quarter as the media company generated higher advertising revenue despite a weak start to the fall television season.