Morning Wrap: today's top business stories

News stories from around the web.

New Statesman

BP accused of intimidating spill claimants (FT)

Lawyers representing claimants seeking compensation for the 2010 Deepwater Horizon disaster have accused BP of “hollow intimidation tactics”, after the company stepped up its attempt to stop what it describes as “inflated” or “absurd” payments for business losses.

Bankia sells IAG stake as rescued bank continues divestments (FT)

Bankia, the rescued Spanish savings bank, has sold its 12.09 per cent stake in International Airlines Group as part of a series of Brussels-imposed sales of its non-core assets.

'Far more' UK shale gas resources (BBC)

UK shale gas resources may be much greater than thought, says a report, with the government set to announce financial benefits for "fracking" communities.

EU makes bank creditors bear losses as Cyprus bail-in becomes blue-print for rescues (Telegraph)

New European Union “bail-in” rules to impose the losses of failed banks on shareholders, bondholders and some large depositors were agreed early this morning by Europe’s finance ministers.

OFT refers payday lenders to Competition Commission (Telegraph)

Britain's payday lenders have been referred to the Competition Commission after watchdogs found "deep-rooted problems" across the sector.