Plan to outsource buying of MoD kit
Philip Hammond, defence secretary, is to begin talks with business on an ambitious plan to outsource procurement for Britain’s military equipment to a new body operated by a private contractor. Britain spends £14bn a year buying and servicing military kit. Procurement is carried out by an arm of the Ministry of Defence called Defence Equipment and Support which employs 16,500 people, mostly recruited from the armed services and government. Hammond will say today that he is considering outsourcing the department.
Dualit wins battle over Nespresso patent
A small British manufacturer, Dualit, has struck at the heart of the $10bn coffee capsule market after a UK court ruled that its pods do not infringe patents on the world’s largest food company’s Nespresso machines.
Starbucks seeks fresh US tax breaks
Starbucks has launched a US offensive to protect and expand tax breaks on foreign profits – just months after its tax structure provoked a political backlash and public relations crisis in the UK.
Cameron puts Boris’s brother Jo in No 10 job
David Cameron has taken Boris Johnson’s brother into the heart of Downing Street as part of a shake-up to strengthen No 10 and reach out to Tory malcontents.
Samsung tests mind control mobile
Samsung is developing phones and tablets that can be operated through “mind control”, as technology-makers race to create devices that can be run by thought alone.
The Daily Telegraph
Euro may only last five years, says senior German government advisor
The euro has a “limited chance of survival” and may only endure another five years, Kai Konrad, one of Angela Merkel’s closest economic advisers, has claimed.
UK Cancer firm buys LHC spin-off
AVO, a British cancer treatment company is buying a business spun off from technology developed from the Large Hadron Collider which was designed to recreate the conditions of the Big Bang.
THE WALL STREET JOURNAL
Large Dell holder sells stake
The Oakmark Funds, a group of mutual funds that were one of Dell’s larger shareholders, sold their stake after Blackstone Group withdrew its potential bid for the PC maker, Oakmark said.
Regulators examine Twitter hoax
Regulators said they were looking into trading that took place on Tuesday after a Twitter hoax, in which the Associated Press account declared an explosion at the White House, sent markets careening.