WHAT THE OTHER PAPERS SAY THIS MORNING
FINANCIAL TIMES
Chinese groups drive rise in pre-sold HK IPOs
Zhengzhou Coal Mining Machinery has enlisted nearly a dozen banks to hunt down investors willing to take stakes in the Chinese business ahead of its $1bn Hong Kong listing, an example of a trend gripping the world’s biggest market for new listings.
Hopes rise UK will build GM model
Hopes have been raised for the future of General Motors’ plant in Ellesmere Port, England, after a union leader said the next generation of the carmaker’s main Astra would be made there and in Poland. GM is drafting a new business plan to stem losses at its European Opel-Vauxhall business.
Ships risk fights with pirates to save on fuel costs
Violent confrontations between Somali pirates and merchant ships’ armed guards could become more common as some shipping companies have reduced ship speeds through the highest-risk area to save on fuel, maritime experts have warned.
THE TIMES
Monopoly fixes rules to keep new players out of the game
Start-up banks are being hampered by rules that massively favour the incumbent high street banks, think-tank Civitas will claim today.
Manufacturers must step up pace
Britain must match the breakneck speed of South Korean growth before the global downturn if it is to meet the government’s target of exports topping £1 trillion by 2020, says manufacturers’ body EEF.
The Daily Telegraph
Twitter will be more valuable than Facebook
Twitter is likely to last longer and become more valuable than Facebook, Rory Sutherland, the vice-chairman of Ogilvy & Mather, has claimed.
Ecolution appoints BDO to raise as much as £40m
Solar power company Ecolution has appointed advisers to raise up to £40m to fund its expansion plans.
THE WALL STREET JOURNAL
EUROPE
Japan investigates social-gaming sector
Japan’s Consumer Affairs Agency said yesterday it is investigating the legality of sales tactics used by the country’s social-gaming industry, raising doubts among analysts and investors over whether the sector can sustain its fast pace of growth.
Roche halts trial of cholesterol drug
Roche said its experimental drug designed to raise HDL, or “good” cholesterol, failed in a large human study.