What the other papers say this morning

FINANCIAL TIMES

Hedge fund managers hail revival
Leading hedge fund managers are reaping some of their biggest profits in years with many now hopeful that 2013 will prove to be a turnround year for the troubled industry. The first quarter is likely to be one of the strongest ever for some hedge funds, in spite of a host of macroeconomic concerns worrying many mainstream investors. European equity-focused hedge funds have fared particularly well. Many hedge funds have until now disappointed with a dire past three years of performance.

HP authorise 10pc dividend increase
Hewlett-Packard has authorised a 10 per cent dividend increase for shareholders, a day after three board members barely survived a re-election vote at its annual meeting.

De Juniac poised to head Air France
Alexandre de Juniac has been lined up to take over as chief executive of Air France-KLM this summer, as reward for his handling of a painful restructuring at the airline’s struggling French arm over the past 18 months.

THE TIMES

Virgin Atlantic keeps its flag flying
Virgin Atlantic’s new American partner has shot down suggestions that the British airline’s brand could be dropped as it struggles to compete in a crowded transatlantic mark

Swansea City outgrow their shirts
The online casino, 32Red, that sponsors Swansea City has collected a £950,000 windfall after agreeing to terminate its five-year deal with the Premiership club a year early.

The Daily Telegraph

France debating cap salaries
France’s top private sector bosses could see their salaries capped under a Bill being tabled by the Socialist government, in the latest high-profile move aimed at punishing the rich.

Fracking film maker accuses IMF
The maker of a documentary in support of oil and gas fracking has accused the International Monetary Fund of censorship after it declined to show a key clip from his film at a conference.

THE WALL STREET JOURNAL

Web money gets laundering rule
The US is applying money-laundering rules to “virtual currencies,” amid growing concern that new forms of cash bought on the Internet are being used to fund illicit activities.

China is now no. 2 box office
China surpassed Japan in 2012 to become the world’s second-largest movie market, behind the U.S., with box office receipts in the world's most populous nation up 36 per cent to $2.7bn.