Monday Papers: Basel sets banks new capital rules - other news

Financial Times

* Global banking regulators on Sunday sealed a deal, known as Basel III, to effectively triple the size of the capital reserves that the world’s banks must hold against losses; the package sets a new key capital ratio of 4.5%, more than double the current 2% level, plus a new buffer of a further 2.5%.

* Deutsche Bank revealed plans for a higher than expected capital increase of at least €9.8bn and announced a takeover offer of rival Deutsche Postbank; the price for the new shares is expected to be close to the €31.80.

* Financial institutions in Europe last week raised $20.5bn, their busiest week since March, according to Dealogic; bankers expect similar data this week.

* The Treasury admitted the legislation - requiring banks to reveal details of big bonus payments to staff in their annual reports next spring - will not be on the statute book in time.

* Greece will launch a charm offensive in Europe this week to reassure investors the country is on track with crucial economic reforms to prevent a damaging government bond default.

* Finra to fine Trillium Brokerage Services, a small proprietary trading firm, $2.3m for “layering”- which involves traders entering multiple fictitious orders, which are then cancelled within seconds, to prop up stock prices.

The Daily Telegraph

* McLaren is gearing up to a future without Formula One, with the health care and aerospace industries in its sights.

* Tesco is drawing up plans to open a chain of franchise convenience stores following a trial in South Korea.

* The boss of Greggs, the bakers and fast food chain, is luring Britain's food snobs, like Jonathan Sibun, onto the high street.

* The airline regulator was investigating Goldtrail Travel over its invoicing in the weeks before its demise and has now hired forensic accountants to pore over the collapsed travel operator's books.