What the other papers say this morning - 27 May 2014


Apple readies “smart home” platform
Apple is readying a new software platform that would turn the iPhone into a remote control for lights, security systems and other household appliances, as part of a move into the “internet of things”. Apple plans to take on rivals Google and Samsung and make a “big play” in the world of smart home technology at its Worldwide Developer Conference on 2 June in San Francisco, according to people familiar with the matter. This will reinforce the view, held by some in Silicon Valley, that Jetsons-style home automation is the next frontier in technology as growth in smartphone sales begins to slow in developed markets.

Retailer The Hut rules out 2014 IPO
The Hut Group, the fast-growing online retailer, has ruled out an initial public offering this year, amid concerns about unsustainable technology valuations and volatile share prices. The online health and beauty retailer, whose underlying profit rose almost 50 per cent in 2013, had considered a £350m float earlier this year.

Ericsson warns over 5G investment
Ericsson plans to provide greater disclosure about the diminishing returns on the high level of research and development it made in Europe, to highlight how a lack of government investment in next generation networks – so-called 5G – is hampering the industry on the continent.


Heron tenants oppose re-naming
When Gerald Ronson announced that he was changing the name of the Heron Tower, his City skyscraper, to Salesforce Tower London it seemed a little downmarket. Now it has emerged that some of the tenants think so too, and lawyers are coming under instruction to get the change ditched.

Execs name London best place to work
London has overtaken New York as the most popular city among global professionals, according to new research from Hydrogen Group, even though the US was the country where most want to relocate to.

The Daily Telegraph

Firms: Vote is wake up call on EU
Business leaders attempted last night to soften criticism of the two main political parties over the way they handled EU issues in the European elections and opened the political door to Ukip. EEF, the manufacturers’ organisation, said the results should act as a “wake up” call to Conservatives and Labour.

Worst year for hedge funds since crash
Some of London’s biggest hedge funds have had millions of pounds wiped off the value of the their portfolios since the start of the year after being wrong-footed by turbulence in emerging markets and falling tech and bank stocks.


Fund considering Club Med takeover
The battle for French resort operator Club Med intensified yesterday with a private-equity fund run by Italian businessman Andrea Bonomi saying it was considering a takeover bid, challenging a Chinese-led rival offer.

Exxon ships Papua New Guinea LNG
Papua New Guinea became the world’s newest significant energy exporter after an Exxon Mobil Corp-led facility began shipping natural gas. The cargo delivery from the $19bn PNG LNG project is the first from several new liquefied natural gas terminals in Papua New Guinea and Australia.