Morning Wrap: today's top business stories

News stories from around the web.

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Shanghai lines up first foreign hedge fund entrants (FT)

Six global hedge funds are set to secure the first-ever approval to raise money from institutions within China for investing overseas, a key reform in the opening of the country’s closely guarded capital account.

Twitter fires the starting gun on IPO (FT)

Twitter fired the starting gun on the internet’s most anticipated initial public offering since Facebook by filing preparatory documents to the Securities and Exchange Commission.

Bank of England must limit house price booms, says Rics (BBC)

The Bank of England should use its powers to limit house price increases to 5 per cent a year to "take the froth out" of price booms, a surveyors' group says.

Vodafone wins support for £6.5bn Kabel takeover (Telegraph)

Vodafone’s £6.5bn takeover of Kabel Deutschland will go ahead after the deal attracted the support of more than three quarters of the German cable operator’s shareholders.

HR Owen recommends raised BPI takeover offer (Telegraph)

HR Owen, the British luxury and supercar dealership, has recommended an increased 170p-a-share takeover offer from Philippine investor Berjaya (BPI), the company's biggest shareholder.