WHAT THE OTHER PAPERS SAY THIS MORNING
FINANCIAL TIMES
Web pioneer sues over iTunes
A General Electric-owned company is squaring up to Apple in a Pennsylvania courtroom over whether its patents were infringed when Apple launched its iTunes platform. The case, which pits two of the US’s biggest companies against each other, is the latest in a string of high-profile patent disputes involving technology companies.
Copper plan would wreak havoc
US manufacturers have attacked plans by JPMorgan Chase to launch an exchange-traded fund backed by physical copper, arguing that the product would “grossly and artificially inflate prices” and “wreak havoc on the US and global economy”.
Normal planning service resumed
The world’s largest companies have resumed normal patterns of succession planning, suggesting they believe the worst of the downturn is over. Among the 2,500 biggest groups by market value, 355 replaced their chief executives last year, compared with just 290 in 2010, according to research by Booz & Company.
THE TIMES
Force end of free current accounts
Banks in Britain should be forced to start charging customers for their current accounts, according to Andrew Bailey, executive director of the Bank of England, who will call today for an end to so-called free banking.
Twickenham Studios back on market
The studio is back on the market after its mystery buyer pulled out. The unnamed purchaser of Twickenham Film Studios had put forward a £100,000 deposit to buy the studio out of administration. That money has been lost.
The Daily Telegraph
Battersea bidder plans car park
One of the leading bidders for Battersea Power Station is planning to build a multi-storey car park inside the historic site. The plans are likely to be hugely controversial with English Heritage and the Mayor.
FSA warns banks over interest rates
The Financial Services Authority, chaired by Adair Turner, has warned banks it will “take action” over the alleged mis-selling of interest rate swaps to small businesses if it finds “widespread evidence of breaches of our rules”.
THE WALL STREET JOURNAL
Pandora’s loss widens, as sales jump
Pandora Media yesterday reported a wider loss for its fiscal first quarter on higher costs, but its revenue jumped 58 per cent and the internet radio company raised its outlook. Its shares rose 11 per cent to $11.45 in after-hours trading.
Gupta trial zones in on GS salesman
Prosecutors publicly acknowledged outside the presence of the federal jury yesterday that David Loeb, a senior Goldman salesman, provided information about Intel, Apple and HP to Rajaratnam.