Apple hires fresh talent for iWatch
Apple has embarked on a hiring spree to tackle design problems with its “iWatch” wrist computer, bringing in fresh expertise amid concern that the launch of its first new product since the death of Steve Jobs could be at least a year away.
BP says law firms reaping a bonanza
US law firms in the Gulf of Mexico area have won some of the biggest compensation awards for themselves under BP’s settlement for the Deepwater Horizon disaster, reaping a “bonanza” caused by a misinterpretation of the deal, the oil firm said. Analysis of data from the court-sponsored claims programme shows that the average offer made to law firms for losses caused by the spill has been $812,000, more than three times the average for all businesses.
G20 sharpens attack tax avoidance
Finance ministers from the Group of 20 leading nations plan to launch a new phase of the international crackdown on corporate tax avoidance this week even as UK business leaders are warning their government to resist “radical new solutions” to profit shifting by multinationals.
Tesco moves to garden centres
Tesco is looking to the garden centre in its latest attempt to spruce up its flagging hypermarkets.
Britain’s biggest supermarket group will open its first store that combines a large Tesco Extra and a Dobbies garden centre in October.
Students pricing out families
Nearly 70,000 homes rented to students are pricing average families out of local housing markets, according to a new report by Savills. The firm said that “freeing up” these homes could help to ease the country’s housing crisis.
The Daily Telegraph
Morrisons’ boss wants online tax
Dalton Philips said Morrisons is ready to pay an online sales tax on its new internet delivery business if the government is willing to address the “massive disadvantage” the high street suffers compared to web-based retailers.
Clippers may return to cut costs
Clippers were the mainstay of the merchant fleet in the mid-19th century. Now, 150 years after their heyday, they are set for a comeback as an eco-friendly and – in the age of soaring fuel prices – cost-effective way of transporting cargo.
THE WALL STREET JOURNAL
IMAX plans Asian expansion
IMAX and its South Korean partner plan to add 30 IMAX movie screens in China and five in South Korea. The expansion is aimed at capitalising on rising entertainment spending by the Chinese middle class and demand for the immersive high-resolution technology in Korea, IMAX Chief Executive Richard Gelfond said.
Max Azria to lose control of label
Max Azria is likely to lose control of BCBG Max Azria to investment firm Guggenheim Partners, in a deal that eases the fashion house’s roughly $685m debt.