Thursday newspaper round-up: Money laundering, housing demand, Iran

David Cameron is to counter claims that his campaign against international corruption is hobbled by London’s reputation as the money laundering capital of the world by introducing a new corporate offence for executives who fail to prevent fraud or money laundering inside their companies. Ahead of Thursday’s anti-corruption summit in the capital, the prime minister revealed plans to force all foreign companies buying property in the UK to disclose their true owners in a public register for the first time. - The Guardian

The foreign companies that hold more than 100,000 UK properties will have to reveal their true owners under a transparency proposal announced by David Cameron. The step was greeted by transparency campaigners as “a great move” and was aimed at energising an international summit on corruption being hosted by the prime minister on Thursday. - Financial Times

Demand for homes has dropped for the first time in a year, but the chronic lack of supply will continue to push prices sky high, according to the Royal Institutions of Chartered Surveyors. In April, 22% more chartered surveyors reported a drop in demand, partly caused by a lull in activity after the feverish buy-to-let rush, in which investors and second home hunters brought forward transactions to escape the stamp duty hike. - The Telegraph

Oil prices are set to soar to $76 a barrel next year, propelled by robust demand from expanding Asian and African countries, an influential American agency has predicted. The US Energy Information Administration expects a gradual recovery in crude prices this year and next after oil tumbled in January to a 13-year low of about $27 a barrel. - The Times

Disengaged North Sea workers are facing a potentially fatal safety crisis which must be tackled in partnership with industry and the regulator, unions have warned. Leaders from Unite and RMT have called for a summit with North Sea operators and the regulator to reach a collective agreement to cut costs without endangering the workforce. - The Telegraph

Some of Europe’s biggest banks are to resist rising political pressure to do more business in Iran when they meet the US secretary of state and the British foreign secretary on Thursday. John Kerry and Philip Hammond plan to call on the banks to do more to reconnect with Iran and to finance British companies seeking to win contracts in the Middle East’s second-largest economy. - Financial Times

The Asian owners of the Three mobile phone network will try to resurrect a plan to create Britain’s largest mobile phone network after European regulators blocked the £10.25 billion takeover of O2. CK Hutchison, which owns Three, is likely to mount a legal challenge as other markets, including Germany and Ireland, have been cut from four to three mobile phone groups, though it has only until June 30 before Telefónica, the Spanish owner of O2, can start talks with other potential buyers for its British mobile business. - The Times

Amid the dearth of London flotations this year, car retailer Motorpoint is expected to close its book on a float on Thursday, market sources said. Shore Capital and Numis are working on the IPO alongside adviser Rothschild and are understood to have an indicative price range of 190p to 240p a share, giving Motorpoint a market value of up to £240 million. - The Times

Lycamobile, the largest donor to the Conservative party, uses a complex web of offshore and UK companies so opaque that its own auditors cannot account for £134m of assets. The financial affairs of the international telephone calls firm, owned by the Sri Lankan-born tycoon Subaskaran Allirajah, were described as “deeply worrying” by experts who also raised questions about the effect of the firm’s arcane structure on its UK tax bill. - The Guardian

Sir Philip Green and the independent trustee chairman of the BHS pension fund have accused the head of the Pensions Regulator of getting her facts wrong. After only one session, a parliamentary inquiry into the collapse of BHS has become mired in confusion and accusations, as Sir Philip and Chris Martin claimed that Lesley Titcomb was incorrect to state that she had learnt about the sale of BHS last year only in the newspapers. - The Times

Nissan is in talks to buy a one-third stake in Mitsubishi Motors as its smaller Japanese rival seeks outside capital to survive a scandal over inflated fuel economy data. In a statement, the two companies said they were studying a capital tie-up and would discuss the matter at a board meeting later on Thursday. - FT

India will have to seek the extradition of Vijay Mallya after a request to Britain for the drinks tycoon to be deported home to face money laundering and corruption charges was rejected. The Indian government had sought his deportation on the grounds that Mr Mallya no longer had a valid passport after its cancellation over a criminal investigation into the alleged misuse of loans to his failed Kingfisher Airlines. - The Times