Blackout in India hits millions
A protracted blackout disrupted the lives of an estimated 300m people across northern India yesterday, as the aspiring superpower’s fragile infrastructure added to the woes of a government already struggling to manage a slowing economy, persistent inflation and the failure of monsoon rains.

Punk band denies Putin charges
Three members of the Russian punk band Pussy Riot pleaded not guilty to charges of hooliganism and religious hatred yesterday, in a case seen as part of a Kremlin crackdown on freedom of expression and the opposition movement.

Exports help Sweden defy downturn
Strong exports drove a stellar performance for Sweden’s economy in the second quarter, countering the effects of the Eurozone debt crisis and supporting the central bank’s view that there is no need to cut interest rates. Sweden’s export-driven economy has shown surprising strength at a time when mainstream European countries, including France and Italy, are heading into a slump.


Apple nearly ditched iPhone
Sir Jonathan Ive, senior vice-president of design at Apple, said of the iPhone yesterday: “There were multiple times when we nearly shelved it because there were problems that we couldn’t solve.”

Ultra defies cuts to deliver profits
Budget cuts and the withdrawal of American troops from Afghanistan have hit revenues at Ultra Electronics, but demand for nuclear submarine technology pushed its total sales up in the first half of the year.

The Daily Telegraph

M&G tells investors to stop buying
Investors are being warned off Britain's biggest and most successful corporate bond funds amid fears that liquidity in the sector could dry up, causing a drag on performance and locking investors into poorly performing funds.

GE sold $100m of lights to Olympics
General Electric sold about $100m (£64m) of lights, power supplies and medical devices for the London 2102 Olympic Games, officials said yesterday.


YouTube ups channel spending
Google said it will put another $200 million into its YouTube channel experiment as it attempts to upgrade its content from simple user-generated videos and to lure more viewers and advertising.

Coca-Cola sets up a succession race
Coca-Cola said it is greatly expanding responsibilities of two executives, Steve Cahillane and Ahmet Bozer, turning them into front-runners to succeed Muhtar Kent.