WHAT THE OTHER PAPERS SAY THIS MORNING
FINANCIAL TIMES
Canary Wharf claims high ground on City
Canary Wharf will finally come of age over the next two months when the UK’s “new” financial centre overtakes the traditional City of London as the biggest employer of bankers in Europe. According to Financial Times research, the transfer of 8,000 jobs by US bank JPMorgan from various sites around the Square Mile to the group’s new European headquarters at 25 Bank Street will finally tip the balance of power.
Dreyfus to tap capital markets
Louis Dreyfus Commodities, one of the world’s biggest food trading houses, plans to tap the capital markets for the first time in its 160-year history, as it embarks on a $7bn spending programme that will include a string of acquisitions.
Bank bond issuance slumps to lowest in seven years
Global bank bond issunce has fallen to its lowest in seven years, underscoring the impact the Eurozone crisis and tougher regulatory environment are having on the way banks operate.
THE TIMES
Keep hoping, says Cable as he sounds euro alarm
A “massive” economic impact awaits Britain should the eurozone fail to contain the turmoil sweeping the Continent, Vince Cable warned yesterday.
Royal Mail sweetens sell-off with a £1bn property dowry
Royal Mail is planning to hit the property jackpot with residential developments in London worth more than £1bn — but only likely to be realised after it is sold off.
The Daily Telegraph
Former civil servant Sir John Elvidge in Edinburgh Airport role
The world’s largest infrastructure fund, Global Infrastructure Partners (GIP) has appointed Sir John Elvidge, a devolutionist ex-civil servant, to head up its first Scottish investment, Edinburgh Airport.
Back us, don’t bash us, business leaders warn Cameron
Britain’s business leaders will warn David Cameron that the government’s attitude to business must change.
THE WALL STREET JOURNAL
EUROPE
Chinese car dealer plans $433m IPO
Chinese motor-vehicle dealer China Yongda Automobiles Services Holdings Ltd plans to raise up to $433m in an initial public offering ahead of its listing in Hong Kong on 30 May, sources said yesterday.
Japan’s Inpex to boost energy exploration
Inpex plans to double its investment in energy exploration to ¥300bn (£2.3bn) over the next five years to meet Japan’s rising demand for fossil fuel in the aftermath of last year’s nuclear accident.