Wednesday newspaper round-up: Apple, RBS, Tesco...

23rd Jul 2014 06:54

Sales of the iPad have slumped to half their pre-Christmas high, with signs that demand for Apple's tablet computer may be in permanent decline. Despite a forecast-busting $7.7bn (£4.5bn) profit, the computing firm's shares dipped in after-hours trading as sales of its tablet fell to 13.3m from their all-time high of 26m in the quarter to December. - The GuardianRoyal Bank of Scotland has been heavily criticised for misleading MPs over its contentious division for struggling businesses. Andrew Tyrie, chairman of the Treasury select committee, said that the bank had been "wilfully obtuse" in evidence it gave to the committee about its global restructuring division, which has been accused of exploiting ailing companies rather than helping them. - The TimesTesco is facing a potential row with shareholders over a pay-off of up to £10m for outgoing chief executive Philip Clarke. Some leading shareholders are concerned that Mr Clarke will be paid his full £1.15m salary for another six months and then receive 12 months' salary and benefits worth £1.2m on his departure in January. This would mean he receives 18 months pay in total after his exit was announced, compared to the City standards of 12 months. - The TelegraphBanks are to be investigated over the way they treat customers complaining about mis-sold paid-for packaged current accounts. The Financial Conduct Authority is to probe concerns that customers are unfairly rejected when they raise issues over these deals. Figures from the independent Financial Ombudsman Service show complaints have increased by almost five times over the past year. And the ombudsman is finding in favour of customers in eight out of ten cases. - The Daily MailA listed property company set up by Nick Leslau, the veteran property entrepreneur, in the depths of the recession has been sold to Blackstone Real Estate Partners for £448 million. Max Property, which owns assets including St Katharine Docks and the Holborn Estate in London, is to be sold two years ahead of plan, the deal bringing a bumper payday for its founders and shareholders. - The Times Europe has enough spare capacity in liquefied natural gas (LNG) to meet a large part of the region's needs if Russia retaliates against the latest EU sanctions by restricting gas supplies. The showdown with Russian president Vladimir Putin comes at moment of surging global supplies of LNG, which can be diverted to European markets and reduce the Kremlin's political leverage. - The TelegraphBC