Wednesday newspaper round-up: BP, Tesla, Advent International

(Sharecast News) - The UK government has been accused of caving-in to pressure from the British Virgin Islands by allowing it to limit access to a register of company share ownership to only those deemed to have a legitimate interest. The restriction, to be discussed at talks starting on Tuesday between Foreign Office ministers and leaders of the British overseas territories (BOTs) in London, is in defiance of legislation passed by the UK government as long ago as 2008 that would make the register available to all. - Guardian

Investigators have identified the source of a leak in the Olympic pipeline two weeks after fuel was first spotted in a ditch near an Everett, Washington, blueberry farm. Oil and gas company BP, the operator of the pipeline, shared in a statement that it had determined the leak occurred in a 20in pipeline and not a neighboring 16in pipeline, allowing that pipeline to be restarted. "Repair plans for the 20-inch segment are being developed and a timeline for repair and restart will be shared when available," BP said. - Guardian

Britain risks a "national act of self-harm" by funnelling more money into welfare while failing to prepare for a war with Russia, a former Army general has warned. General Sir Richard Barrons, who co-authored the Government's strategic defence review, said rearmament efforts were proceeding at "half the speed" necessary because the Ministry of Defence was "on its knees". - Telegraph

Rachel Reeves has been accused of "crippling" the jobs market after she announced businesses will be forced to pay teenagers more than �10 an hour for the first time. The Chancellor said the minimum wage for 18 to 20-year-olds will increase by 8.5pc from next April, from �10 to �10.85 - more than double the rate of inflation. - Telegraph

Tesla is continuing to lose significant market share in Europe, according to figures that also show mass adoption of electric cars across the continent continues to be stuck in the slow lane. Within the European Union sales of Tesla, the continent's pre-eminent electric car brand, slumped 48 per cent in October from 10,800 to 5,600. For the first ten months of the year Tesla sales are down year-on-year by 39 per cent at 117,000. - The Times

A dealmaker at the firm that broke up Cobham International is leaving the UK for Luxembourg as a number of wealthy individuals announce their departures in the lead-up to the budget. James Brocklebank, who is head of Europe at Advent International, the US private equity firm, said sparsely-populated Luxembourg was key for the "structuring of our funds". - The Times