FINANCE CHIEFS LOOK AT HEDGE FUNDS - The Irish Times reports that finance ministers from the world's seven leading economies have called for greater vigilance on hedge funds, and for the Chinese government to loosen its control over its currency, the yuan.
The paper says, in a policy success for Germany's G8 presidency, ministers meeting in the western city of Essen narrowed their differences over hedge funds, worth a total of €1.1 trillion world-wide, which critics say lack transparency and pose a risk to world financial security.
'Given the strong growth of the hedge fund industry and the instruments they trade, we need to be vigilant,' said a final statement, noting that hedge funds had 'contributed significantly to the efficiency of the financial system'.
'Nevertheless, the assessment of potential systemic and operational risks associated with these activities has become more complex and challenging,' it said.
The paper says Germany bowed to pressure from the US and Britain, where most hedge funds are based, and rowed back from its original proposal of imposing regulations by the end of the year.
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DESIGNER'S MOVE SETS A CHALLENGE -The Financial Times reports that in a move that could change the way the fashion world operates, Rolland Mouret, the London-based designer, has announced he will show, and sell, a women's ready-to-wear collection in July during Paris couture week, instead of September during the London ready-to-wear season.
The move will mean Mr Mouret's line, called RM, will be available to retailers three months before those of his competitors, and will be delivered to stores in Nov-ember, three months before other similarly-sized brands.
The paper quotes Mr Mouret as saying: 'We believe that the short delivery time from show to store is what our customer increasingly demands'.
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NEW LAW BANS OUTDOOR WEDDINGS - The Irish Independent reports that Irish couples will be able to marry wherever they want by the end of the summer - except outdoors.
The paper says that after three years of delays, officials from the General Register Office are hoping to have the new legislation in place by June or July.
At the moment couples can only marry legally in a church or a registry office but the reforms will allow them to marry in hotels or any other place of their choice. But the reforms do not include outdoor weddings or marquees.
The paper quotes Tom Doyle, higher executive officer with the registry office, who says there won't be a provision for outdoor weddings. He said there will be a list of appropriate buildings, like hotels, but couples can apply to have another building listed if that is where they want to get married.
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SOME CADBURY EGGS TO BE RECALLED - The Irish Examiner reports that chocolate firm Cadbury last night added thousands more Easter eggs to those it is recalling amid fears they could be dangerous for people with nut allergies.
The paper says that the chocolate giant yesterday said selected products were produced on a line also used for products containing nuts but had not been given warning labels.
Nut allergy sufferers are at risk of illness or even death if they eat food containing nut traces.
The Examiner said that the company has played down the risk from its eggs as 'small', saying that only certain product batches are affected.
The paper listed the new packs being recalled as: Cadbury Dairy Milk Gaelic Athletic Association 445g (Ireland only), Cadbury creme egg mini tube 160g, Cadbury dairy milk caramel mini egg bag 100g, Cadbury dairy milk miniatures carton 100g, and Cadbury creme egg minis easter egg 98g.
