The Telegraph says that the £10.5m fine of SSE in regards to mis-selling will not be used to help consumers but will instead by used to line Treasury coffers. This is because the energy provider refused to accept blame for breaching the rules, according to Ofgem.

The Bank of Japan overnight said it would double its monetary base over the next two years through the aggressive purchase of long-term bonds, ‘in a bold policy aimed at ridding Japan of the deflation that has dogged the country for almost two decades’, according to the Financial Times. The Central Bank said it would make the two per cent inflation target within two years.

The Independent writes that the “win-at-all-costs” culture and sky-high pay at Barclays led to the recent scandals such as Libor rigging. The Salz report published yesterday found a loss of “proportion and humility” among investment bankers following the financial crisis.

IAG has purchased a further 18 Boeing 787 Dreamliners to upgrade the fleet of planes at its British Airways unit in a deal worth $4.0bn at catalogue prices, writes The Telegraph.

Aid to some of the world’s poorest nations, or “development assistance”, has fallen at the sharpest rate since the mid-1990s, according to The Guardian. The paper cites a report by the OECD that found sharp drops in spending by Spain, Italy, Greece and Portugal resulted in a 4.0% decline in assistance to the developing world last year.

Administrations in the UK during the first quarter dropped to their lowest level since 2005, a survey from PricewaterhouseCoopers has shown, reports The Independent. The paper says that in spite of the collapse of well-known retailers such as Blockbuster, Jessops and HMW, “the heath of UK businesses is stronger than expected” with 490 firms entering administration in the three months to March 31st, down 32% year-on-year.