WHAT THE OTHER PAPERS SAY THIS MORNING
FINANCIAL TIMES
Banks look to farm out SME lending
Several large European banks are weighing the idea of outsourcing a portion of their core small business lending to a new crop of loan funds, in a further sign of the growth of the “shadow banking” industry in Europe. A number of banks including UBS and Royal Bank of Scotland how banks might give those funds access to their corporate client bases.
New threat to prop trading
Bank trading desks face a new threat to their profitability after global regulators unveiled proposals yesterday to force them to hold more capital against the risk of heavy losses when markets freeze. The Basel Committee on Banking Supervision’s “fundamental review of the trading book” aims to close loopholes that have allowed banks to cut capital requirements by parking assets in their trading books.
Third Nespresso factory to open
Nespresso, the fast-growing premium coffee brand owned by Switzerland’s Nestlé, yesterday brushed off fears of rising competition for high-margin capsules with plans for a third factory to boost output to meet surging global demand.
THE TIMES
Beijing to back nuclear Britain
America’s largest nuclear generator has been approached by a consortium bankrolled by the Chinese government to rescue Britain’s flagging reactor building programme. Exelon would operate up to six new reactors on two sites in Anglesey and Gloucestershire if the estimated £15bn cost of building them can be found.
Yahoo chief accused of fake CV
An activist hedge fund calling for a shake-up of Yahoo! has accused the CEO of embellishing his CV to make himself appear more qualified for the job.
The Daily Telegraph
Former MG Rover workers to receive £3 compensation
Former employees of MG Rover are set to receive compensation of just £3 per worker despite a seven-year campaign to retrieve funds from the collapsed car maker. 6,500 workers will share £22,000.
Young Italians flock to be shepherds
As Italy’s unemployment rate topped 10 per cent this week, it emerged that young people are flocking to become shepherds. The profession has recently attracted 3,000 young Italians.
THE WALL STREET JOURNAL
EU vs Russia in Serbian election
Serbia’s national elections are turning into a referendum on the country’s future, with voters asked to choose between a strategy of ever-deeper ties with the EU or a policy of forging closer relations with Russia.
Pepsi brings back King of Pop
Pepsi is resurrecting Michael Jackson to try to pump life into its flagship cola, three years after the singer’s death and over 25 years after his sponsorship deal to become the brand’s voice.