What the other papers say this morning - 27 June 2014


GoPro soars on Nasdaq debut
Shares in GoPro soared higher than the daredevil sports enthusiasts who use its action cameras as it made its stock market debut yesterday leaping more than 30 per cent to over $31 in its first morning of trading. The initial public offering is the biggest for a consumer electronics company in two decades. The successful opening demonstrates investors’ sustained appetite for technology growth stories, despite high-flying consumer-internet debuts such as Twitter seeing their stock prices fall in recent months.

Increasing Google Glass privacy woes
Google Glass wearers could be breaking the law if they use the connected glasses for anything other than personal reasons, according to the UK’s data privacy watchdog. The UK Information Commissioner’s Office has waded into a growing debate about how people use Google’s smart glasses, which can be used to capture videos and take pictures without the knowledge of others.

US bond trading platform created
Banks including Goldman Sachs and JP Morgan Chase are creating a new trading platform for US corporate bonds as they seek to maintain their hold on the business of trading US companies’ debt while boosting liquidity in the $10 trillion market. The platform is due to launch next month after at least 10 banks signed up for the new trading technology.


Monsoon set for store overhaul
Monsoon Accessorize’s UK estate of 350 stores is to be reshaped over the next five years in a multimillion-pound project. John Browett, who became chief executive 16 months ago, said that the Monsoon chain would be cut to 125 stores co-located with an Accessorize, with several Monsoon sites switching to its sister brand.

Oil in granite changes UK prospects
Hurricane Energy said it successfully drilled the first exploration well into granite rock beneath the Atlantic waters close to Britain. It said that the gusher in the West of Shetlands could be a “game-changer” for the UK.

The Daily Telegraph

Phase Eight considers US expansion
The upmarket women’s fashion retailer Phase Eight is considering expansion into the US. The retailer, owned by its management and private equity group TowerBrook, already operates in 13 countries, but is plotting further growth outside the UK. Ben Barnett, chief executive, said Phase Eight is “definitely exploring” North America.

Germany cuts Verizon contract
The German government has cancelled a contract with US telecoms giant Verizon Communications as part of an overhaul of its internal communications prompted by the row over US government spying.


GM boss says recalls to continue
General Motors chief executive Mary Barra indicated the auto maker’s review of safety issues involving older vehicles is not over after recalling more than 20m vehicles in North America. “We are going to continue to look at the data we get and we are going to take the action that we need,” Barra said yesterday.

IBM, Lenovo tackle security worries
IBM and Lenovo are still grappling with ways to resolve ongoing US security concerns over IBM’s proposed $2.3bn sale of its computer-servers business to the Chinese company.