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Morning Wrap: today's top business stories

News stories from around the web.

Backlash over US snooping intensifies (FT)

The Obama administration came under mounting bipartisan pressure on Sunday to scale back electronic surveillance following revelations last week that have raised new questions about government intrusion into citizens’ privacy.

Japan revises up Q1 growth to annual 4.1% (FT)

Japan has revised up its first-quarter economic growth to 1 per cent, giving Prime Minister Shinzo Abe a boost as he seeks to strengthen his grip on power in next month’s upper house elections.

Disability Living Allowance changes begin (BBC)

A new system of disability benefits has begun to take effect across England, Scotland and Wales.

Personal Independence Payments (PIPs) are replacing Disability Living Allowance (DLA) as part of the government's welfare reforms.

Severn Trent bidder to walk away after third rejection (BBC)

The consortium of investors bidding to takeover UK water company Severn Trent has threatened to walk away after having its third bid rejected.

LongRiver Partners said there "will be no further proposal" unless the Severn Trent board showed an interest in "meaningful engagement".

Water giants' profits and tax 'morally questionable', says Ofwat boss (Telegraph)

Water companies’ high profits and tax-reducing corporate structures are “morally questionable”, Jonson Cox, the chairman of industry regulator Ofwat, has said.