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Thursday newspaper round-up: Apple, BoJ, Moody’s

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Posted:
11/07/2013
Updated:
11/07/2013

Apple guilty of ebook price-fixing conspiracy; upbeat outlook from Bank of Japan; Moody’s upgrades outlook on UK banking sector.

Apple faces hundreds of millions of dollars in damages after it was found guilty of conspiring to fix the price of ebooks and failed to explain away damning emails written by its late founder, Steve Jobs, The Telegraph reported.

The Bank of Japan on Thursday said for the first time in more than two years that conditions in its economy were “recovering”, the Financial Times revealed.

The Office for National Statistics has shown the gap between rich and poor in Britain has narrowed as disposable incomes in the best-off households fell by nearly 6.8 per cent between 2007-08 and 2011-12, while incomes of the poorest have grown by 6.9 per cent, according to The Times.

For the first time since the 2008 financial crisis, ratings agency Moody’s has upgraded the outlook for the British banking sector, moving from a negative outlook to stable, The Guardian said.

British financier Nat Rothschild has accused the board of the miner Bumi of subjecting long-suffering shareholders to an “inferior” deal, as the group tries to break ties from Bumi Resources and the Bakrie Group, The Independent reported.

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