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Morning Wrap: today's top business stories

News stories from around the web.

Payday lenders 'failing to follow new codes' says minister (BBC)

Payday lenders are failing to live up to the "spirit or the letter" of codes they signed up to last year, ministers have said.

The comments come ahead of a summit, bringing together payday lenders, regulators, charities and ministers.

Mark Carney takes over as head of Bank of England (BBC)

Mark Carney has officially become head of the UK's central bank, replacing Sir Mervyn King as governor of the Bank of England.

Mr Carney, who was head of Canada's central bank, is the first foreigner to run the 319-year-old institution

Help to Buy 'could be hazard to economy', says Taylor Wimpey chief (Telegraph)

The boss of Taylor Wimpey, one of Britain's biggest housebuilders, has warned that the Government's Help to Buy scheme could be a "genuine hazard" to the economy unless a time limit is imposed on the scheme immediately.

Nokia to pay €1.7bn to buy Siemens out of telecoms joint venture (FT)

Nokia is buying Siemens out of their telecoms equipment joint venture for €1.7bn, giving the Finnish group full control over what is currently its best-performing business but raising questions about the strength of its balance sheet.

Samsung grabs lion’s share of European smartphone sales (FT)

Almost half of all smartphones sold in major European markets in recent months have been made by Samsung, underpinning the growing dominance of Google’s Android operating system across the region.