WHAT THE OTHER PAPERS SAY THIS MORNING
FINANCIAL TIMES
EUROPE TELECOM GROUPS TARGET GOOGLE
Leading European telecoms companies want to levy significant charges on Google and other online content providers through an overhaul of the regime governing how data travel over the internet. Operators in Europe complain that they are contending with an explosion of data on their networks, much of which comes from US sites such as Google’s YouTube video service.
WADHWANI JOINS CAXTON IN HEDGE FUND ACQUISITION
Caxton Associates, the US hedge fund, has acquired a significant stake in a London hedge fund run by one of Britain’s foremost economists. Wadhwani Asset Management, set up by Sushil Wadhwani, a former member of the Bank of England’s monetary policy committee and lecturer at the London School of Economics, is to enter into a strategic partnership with Caxton, the Financial Times has learnt.
ECONOMY ROUGHLY IN RIGHT PLACE, SAYS OSBORNE
George Osborne, chancellor, has warned the cabinet that the British economy is still facing difficulties but was “roughly in the right place”, ahead of the publication today of economic data. Osborne gave his briefing minutes after being given a preview of official figures for gross domestic product in the first quarter of 2011 – the crucial measure of how well the economy has bounced back.
CHINESE ELITE FACES CURBS ON US VISAS
The US government may make it more difficult for China’s ruling elite and their families to receive visas following a series of diplomatic snubs by the Chinese government, according to US officials.
THE TIMES
WHITE-COLLAR CRIME FIGHTERS FACE ANOTHER BATTLE
A political showdown is looming after it emerged that the Home Office intends to reopen a debate about the future of the Financial Services Authority’s enforcement division. Theresa May, the Home Secretary, will look again at stripping the City watchdog of responsibility for pursuing crimes.
MADOFF FAMILY ‘PROBABLY KNEW NOTHING OF GIANT PONZI FRAUD’
Bernard Madoff’s wife and sons were unfairly pilloried by the media after his arrest in December 2008, even though it was highly unlikely that they knew he was running a huge Ponzi scheme, a book claims. Diana Henriques suggests in The Wizard of Lies that the late billionaire philanthropist Jeffry Picower may well have suspected that Madoff was a fraudster.
The Daily Telegraph
GULF KEYSTONE DENIES PAYING FOR CLIENTS TO ATTEND STRIP CLUBS
Gulf Keystone Petroleum has denied that it paid for clients to attend strip clubs – after its chief executive gave evidence in a US court that adult entertainment was “reimbursable”. Shares in the London-listed oil explorer, which is one of Aim’s biggest companies, fell two per cent yesterday, following reports that its chief executive, Todd Kozel, had seen $100m (£61m) of shares frozen in a divorce battle.
SONY WARNS PLAYSTATION USERS OVER HACKERS
PlayStation users have been warned their sensitive personal details may have been stolen after Sony admitted hackers breached a system used by 3m Britons. PlayStation Network members have also endured a week without online gaming access.
WALL STREET JOURNAL
GULF KEYSTONE DENIES PAYING FOR CLIENTS TO ATTEND STRIP CLUBS
Gulf Keystone Petroleum has denied that it paid for clients to attend strip clubs – after its chief executive gave evidence in a US court that adult entertainment was “reimbursable”. Shares in the London-listed oil explorer, which is one of Aim’s biggest companies, fell two per cent yesterday, following reports that its chief executive, Todd Kozel, had seen $100m (£61m) of shares frozen in a divorce battle.
SONY WARNS PLAYSTATION USERS OVER HACKERS
PlayStation users have been warned their sensitive personal details may have been stolen after Sony admitted hackers breached a system used by 3m Britons. PlayStation Network members have also endured a week without online gaming access.