Tuesday newspaper round-up: Lloyds, Dr Martens, Saudi Aramco

Sir Hector Sants, a former chief City regulator, is due to give evidence to the high court in private in relation to a case brought by Lloyds Banking Group shareholders over the information they were provided at the time of the HBOS takeover in 2008. The former chief executive of the Financial Services Authority made an application in July to allow him to give evidence in private. This can now be reported after an application to the high court made by five media organisations, including the Guardian, to establish what the judge had described as the “special arrangements” that have been put in place for him to give evidence. – Guardian

The Phones 4U billionaire John Caudwell has accused his former business partner and protege of being an “amazing liar” who presided over a “reign of terror” at the wealth management firm they co-founded before their close relationship soured. Caudwell told the high court on Monday that he had “loved” his former business partner Nathalie Dauriac but had lost faith in her after allegedly discovering that she falsified £33,000 worth of expenses claims, including a personal trip to Málaga and gifts for her family. - Guardian

A former HSBC currency trader has been found guilty of defrauding Cairn Energy over a $3.5bn (£2.7bn) client order, following a month-long trial in New York. A jury today found Mark Johnson guilty on nine out of ten fraud and conspiracy charges, all of which related to a currency trade in 2011 in which Cairn asked HSBC to convert proceeds from a sale from dollars into pounds. - Telegraph

The European Commission has widened its anti-trust probe into German car makers, raiding the headquarters of Daimler, Volkswagen and Audi today. The investigation follows allegations made in July that several manufacturers had colluded to fix the price of certain technologies for decades. – Telegraph

It may have started out as a humble workwear boot, but these days style-conscious consumers in South Korea and Japan are driving sales of Dr Martens. In the year to the end of March, the bootmaker reported a 25 per cent jump in revenues to £290.6 million, up 12 per cent, with Asia up 43 per cent at £66.4 million. The company, which was acquired by Permira in 2013 for £300 million, said that Asia accounted for 23 per cent of sales, while underlying earnings in the region leapt by 105 per cent to £13.5 million over the year. – The Times

Saudi Arabia’s plan to offer shares for sale in its national oil company remains on track, according to the oil giant’s chief executive, as he brushed away reports yesterday that the stock market listing could be delayed or shelved. Saudi Aramco will become the biggest listed business in the world if its flotation goes ahead. It would be five times larger than Exxon Mobil, more than twice the size of Apple and eight times bigger than Royal Dutch Shell, Britain’s biggest stock market company. – The Times