Morning papers round-up, Wed 16 May

Towry Law, the financial adviser, is in emergency discussions with UK regulators over a multi-million pound pensions mis-selling black hole in a company it bought last year, according to the FT this morning. The unexpected liabilities for mis-selling pensions led to friction with PwC, the accountancy firm, which carried out due diligence work on the purchase. PwC has since resigned as the company's auditor. The scale of the problem is said to be close to £15m. ConSors, Europe's second largest online brokers, yesterday reported its first quarterly loss since it floated in 1999, i...