What the other papers say this morning – 18 March 2014
FINANCIAL TIMES
ATM risk as Windows XP support ends
In less than a month, most of the world’s ATMs and a large portion of its computer-based industrial control systems will become a lot more vulnerable to hackers and viruses. On 8 April, Microsoft will stop issuing updates and patches for bugs in its Windows XP operating system, which was released in 2001 but remains widely used, as companies put off the costly and complex task of system upgrades. That delaying will make it easier for hackers to break into the main systems still running XP, security experts say. More than 95 per cent of ATMs also run the operating system, according to NCR, the largest provider of ATMs globally.
Franco-German row on bank union bill
France and Germany are squabbling over who should foot the bill for Europe’s banking union, with Paris fearing its banks will pay the biggest share towards a €55bn rescue fund. It is one of several highly political issues that remain unresolved before a Wednesday deadline to agree legislation with the parliament, so that it has time to pass before the European elections.
Guinness drops St Patrick’s parade
Guinness became the latest brewer to drop sponsorship of St Patrick’s day celebrations in the US amid growing criticism of public discrimination against gay and lesbian groups, who have been told they can parade but not carry signs or identify themselves.
THE TIMES
Diageo steps back in India bribe fear
Diageo has been forced to stop selling alcohol directly in one of India’s largest states because of concerns over the level of corruption there. It paid £510m for a controlling stake in United Spirits last year, but now believes it may fall foul of increasingly strict corruption laws in the UK and US.
Alibaba listing to boost Wellcome
Britain’s biggest medical research charity and its biggest investment trust are set to be two British beneficiaries of the flotation of Alibaba Group, the Chinese internet retailer. Wellcome Trust and Scottish Mortage Investment Trust are each due to book big profits on paper from the IPO.
The Daily Telegraph
Ex-Fifa boss paid millions in Qatar link
Documents appear to show senior Fifa official Jack Warner and his family were paid almost $2m (£1.2m) by a company controlled by a former Qatari football official shortly after the country won its bid for the 2022 World Cup. Payments totalling almost $750,000 were made to Mr Warner’s sons, documents show. A further $400,000 was paid to one of his employees. It is understood that the FBI is now investigating Trinidad-based Mr Warner and his alleged links to the Qatari bid, and that the former Fifa official’s eldest son, who lives in Miami, has been helping the inquiry as a co-operating witness. Mr Warner and his family declined to comment.
THE WALL STREET JOURNAL
Wall Street trains fire on bank tax
Wall Street is mobilising to beat back a bank tax championed by a Republican lawmaker. Bank of America, Citigroup, Goldman Sachs, JP Morgan and other big banks are marshaling opposition on Capitol Hill to kill a proposal by Republican Dave Camp to tax the largest financial firms, according to people familiar with the efforts.
AmEx to sell half corporate travel arm
American Express will sell half of its corporate-travel business for $900m to a group of investors led by Certares LP, as it carves out the unit into a new joint venture.