<strong>FINANCIAL TIMES<br /><br />GCL-POLY TO BUY SOLAR ASSETS FOR $3.4BN</strong><br />GCL-Poly Energy, a Hong Kong-based power plant operator, said yesterday it would pay HK$26.4bn (&pound;2bn) to acquire solar assets from its chairman as it seeks to expand in the green energy sector. The company said it would buy Jiangsu Zhongeng, a supplier of polysilicon and wafers used by the solar industry, from Zhu Gongshan, chairman and controlling shareholder of GCL-Poly.<br /><br /><strong>ACTIVISTS BOARD VESSEL IN KINGSNORTH PROTEST</strong><br />Environmental campaigners have stepped up their fight against coal-fired power with an attempt to block a vessel carrying fuel to the Kingsnorth power station in Kent. <br /><br />Greenpeace protesters boarded the coal freighter while others tried to impede its passage along the river Medway to the dock.<br /><br /><strong>INDIA TO BAN REPLICA HANDSETS FROM CHINA</strong><br />India is moving to block millions of cheap copy-cat Chinese mobile phones and accessories from flooding the market, because they are of dangerously poor quality. &ldquo;Many of these phones behave like little bombs &ndash; exploding because the battery is bad,&rdquo; said Pankaj Mohindroo,&nbsp; president of the Indian Cellular Association.<br /><br /><strong>TV&rsquo;S COWELL AND RETAILER GREEN JOIN FORCES</strong><br />Simon Cowell, one of the world&rsquo;s biggest TV stars, has joined forces with Sir Philip Green, the British retail billionaire, to form a global entertainment company that will create and own television content on both sides of the Atlantic.<br /><br />The two men, close friends for the past decade, have been working closely together in recent weeks, with Green advising Cowell on contracts.<br /><br /><strong>THE TIMES<br /><br />BANK&rsquo;S LACK OF ACTION ON LENDING FRUSTRATES TREASURY</strong><br />Frustration is growing at the highest levels of the Treasury over the Bank of England&rsquo;s failure to take swifter and more determined action to boost flows of lending to cash-strapped businesses across Britain. Treasury ministers and officials are said to be increasingly exasperated over the Bank&rsquo;s tardiness in taking more urgent steps to ease credit conditions for business, especially for small firms and medium-sized companies.<br /><br /><strong>FINANCIAL MESS SHOWS THE LONDON DEVELOPMENT AGENCY CAN'T BE TRUSTED</strong><br />The latest financial mess to emerge from the London Development Agency vindicates the decision to create a separate 2012 legacy company to own and operate the Olympic Park after the Games.<br /><br /><strong>The Daily Telegraph</strong><br /><br /><strong>HEDGE FUND MANAGERS BETTING TWITTER WILL GIVE THEM AN EDGE IN RAPID TRADING</strong><br />Hedge fund managers are turning to Twitter in an attempt to steal a march on their rivals. Traders are using software developed by US-based technology StreamBase to monitor &ldquo;tweets&rdquo; for price sensitive information. The software plugs into Algorithm-based automated trading platforms that have been used by traders for years. But rather than searching Reuters or Bloomberg the software now scans Twitter.com.<br /><br /><strong>AIRBUS FEARS CHINA'S AVIATION INDUSTRY MAY SOON CHALLENGE BRITAIN'S WING PRODUCTION</strong><br />Airbus factories in China are rapidly mastering aircraft technology and may soon pose a direct challenge to Britain's niche industry of wing production, Airbus has warned.<br /><br /><strong>WALL STREET JOURNAL</strong><br /><br /><strong>RED ROOF INN DEFAULTS ON MORTGAGE DEBT</strong><br />Red Roof Inn defaulted on $367m face amount of mortgage debt that was packaged into commercial mortgage-backed securities, it said yesterday. Debt-rating company Realpoint reported earlier that Red Roof defaulted on $332m, face amount, in mortgage debt this month. Realpoint said it found a fourth delinquent mortgage of $35m, bringing the total default to roughly $367m.<br /><br /><strong>NORSK HYDRO QUITS TAKEOVER BID</strong><br />Norwegian aluminum supplier Norsk Hydro ASA dropped its efforts to buy Asia Aluminum Holdings, dashing hopes for an alternative to a restructuring of the Chinese company that will leave some foreign debtholders with next to nothing. Advisers to the foreign creditors informed them of Norsk Hydro&rsquo;s decision.