WHAT THE OTHER PAPERS SAY THIS MORNING
FINANCIAL TIMES
Disclosure reprieve for activist investors
Activist investors appear to have won at least a reprieve from new regulation that would force them to declare their hand earlier when building a stake in a company. The passage of the Jobs Act by Congress in March has forced the Securities and Exchange Commission to delay an examination of changes to the rules around disclosure of activist positions, according to people familiar with the situation.
Fenchurch poaches new chairman from rival
Fenchurch Advisory Partners has poached Cliff Hampton to be its chairman from rival independent advisory group Evercore to bolster its client relationships.
Cyberwar fears after bug targets Tehran
The discovery of a malicious computer programme that appears to be collecting sensitive information from Iran and others indicates the global cyberwar has moved to a new level, warn security experts.
THE TIMES
Fitness First offers plan to trim the fat
The struggling gym business Fitness First is to propose a rescue deal with landlords this week that would give unsecured creditors a share of the spoils if it recovers.
Adidas India chiefs accused of huge warehouse fraud
Adidas has accused executives in India of using a network of secret warehouses to siphon off Adidas shoes and clothing.
The Daily Telegraph
Richard Desmond claims Channel 5 “transformation”
Channel 5 has moved back into the black after a cost-cutting programme at the broadcaster led it to reverse a £48.4m operating loss in 2010 to a £26.2m profit.
Ofcom chief neutered by application to BBC
The chief executive of Ofcom has been forced to step aside from any discussions involving the BBC after applying to be its Director General.
THE WALL STREET JOURNAL
Japanese car makers report strong sales in April
Japan’s three biggest car makers reported April surges in domestic production and sales, highlighting their recoveries after last year’s earthquake and tsunami battered supply chains and hit demand.
Art market bright despite global gloom, Christie’s says
Despite global economic uncertainty, Christie’s International says its art business has proved resilient.