What the other papers say this morning - 05 June 2014

FINANCIAL TIMES

Twitter weighs music acquisitions
Twitter has considered buying online music services including Soundcloud and Spotify in recent months – a move that suggests it is willing to attempt its largest acquisition to secure new sources of growth. The online messaging platform has weighed up deals worth billions of dollars as it seeks to add a music service to its offering, according to three people familiar with the matter.

US considers ban on stalking apps
Mobile phone apps that track users without their knowledge have been used in cases of domestic violence, stalking and attempted murder, witnesses told a US Senate hearing on a bill that would ban such software. The hearing is part of Senator Al Franken’s latest push for his bill, which he reintroduced earlier this year, that would require companies to get a user’s permission in order to share location data obtained from a smartphone.

US beats Europe on broadband speed
The light touch of US regulators has helped increase investment in broadband and expanded access to high-speed internet in the US compared to Europe, according to a study which contradicts assertions that the US has fallen behind in the internet race as the country debates what rules should govern broadband access.

THE TIMES

Float on again as EE put on alert
The owners of Britain’s largest mobile phone network will reconsider floating the business soon, after telling the management to either kick-start growth or improve its profitability. A potential flotation of EE, which is owned by Orange of France and Deutsche Telekom, was shelved this year despite buoyant market conditions at the time.

Pair guilty of selling worthless shares
Two men were found guilty yesterday of conspiracy to defraud in connection with a £70m boiler room scheme, believed to be the largest to reach court.

The Daily Telegraph

Relish urges Londoners to scrap lines
Londoners are being urged to scrap their landline by a new wireless broadband provider backed by the Hong Kong businessman Richard Li, son of the tycoon Li Ka-shing. Relish was launched at the Tate Modern gallery yesterday. It offers broadband without a fixed line using 4G.

McLaren supercars in first ever profit
McLaren Automotive has made a profit for the first time in its three-year history driven by demand for its £1m P1 supercar. The car maker reported a pre-tax profit of £4.5m last year, on revenues of £285.4m.

THE WALL STREET JOURNAL

Diageo turns to the web in China
Diageo is expanding online in China amid a government austerity campaign that has hurt sales by frowning on banquets and gift-giving. The firm said it is rolling out a virtual storefront on e-commerce giant Alibaba’s Tmall site and is in talks with other online players to sell more of its single malt whiskies and Irish cream liqueur.

Big pharma could shed older drugs
Several big drug makers, including Merck and GSK, are exploring the possibility of selling or splitting off large portfolios of older drugs as they focus on those with faster-growing sales.