Morning Wrap: today's top business stories

News stories from around the web.

New Statesman

EU eases hard line on austerity (FT)

Brussels will on Wednesday give its clearest signal yet that it is moving away from a crisis response based on austerity, allowing three of the EU’s five largest economies to overshoot budget deficit limits and pushing instead for broader reform.

Paid for current accounts may be next scandal, watchdog warns (Telegraph)

Paid-for currents accounts could become the next bank mis-selling scandal as increasing numbers of customers complain that they cannot use the advertised perks, the financial watchdog warns.

Ex-KPMG senior partner to plead guilty to insider trading (BBC)

A former senior partner at accountancy giant KPMG has agreed to plead guilty to insider trading.

US authorities had charged Scott London in April for allegedly passing information to a golfing friend, who then traded on the share trips.

US housing lift could crimp Fed buying (FT)

The largest rise in house prices for seven years and a surge in consumer confidence have added to a fast-improving US economic outlook, increasing the chances the Federal Reserve will slow its $85bn-a-month in asset purchases.

Financial gripes reach 7,000 a day, says ombudsman (BBC)

Consumers' lack of trust in financial firms led to a 92% increase in cases taken up by the financial ombudsman service last year.