In today's FT: Apple faces grilling over US tax rate, Yahoo buys st...

If this email is not displayed correctly, please click on the following link or open your browser and paste the link into the address field: http://view.ed4.net/v/NA70KK/ULXKKL/2RFOP2/PRAK1O/   In today's FT Monday May 20 2013 How useful are FT email briefings to you and what can we do to improve them? Take our short survey Financial Times - UK Homepage   Apple faces grilling over US tax rate Group's tax planning is likely to come under the microscope when Tim Cook, chief executive, faces Senate committee investigating shifting of profits to low-tax countries http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/4VRFUH/HK/h?a1=2013&a2=5&a3=19   Yahoo buys start-up Tumblr for $1bn Tumblr, launched in 2007, has married short-form blogging with social media sharing to create a service but, its growth rate has slowed this year http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/IEO0ZR/HK/h?a1=2013&a2=5&a3=19   Berlin warns EU over solar tariffs stance Germany's vice-chancellor and economy minister put Berlin on a collision course with Brussels after warning against anti-dumping duties http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/LSV2M1/HK/h?a1=2013&a2=5&a3=19   Financial Times - US homepage   US banks' corporate loans spark risk fears Industry warns some lenders are dramatically cutting the terms and interest rates at which they offer business loans as they seek to boost profits http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/87PUHP/HK/h?a1=2013&a2=5&a3=19   N Korea launches short-range missiles Launches come as Pyongyang condemns the US deployment of an aircraft carrier to take part in joint exercises with South Korean forces http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/MJ2A5E/HK/h?a1=2013&a2=5&a3=19   White House faces 'intimidation' accusation With the administration facing another week of congressional hearings, the Republican party is focusing its ire on Eric Holder, the attorney-general http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/MJ2A49/HK/h?a1=2013&a2=5&a3=19   Financial Times - Europe homepage   Portugal's banks fear 'Cyprus virus' Heads of Millennium BCP and Banco Espírito Santo separately urge Europe's leaders to moderate their stance on the eurozone periphery http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/SU4WYW/HK/h?a1=2013&a2=5&a3=19   Cameron 'losing control' of Tory party With two years until the next election, the Tory party has reopened old divisions over Europe which helped destroy Margaret Thatcher and John Major http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/OFZ7WV/HK/h?a1=2013&a2=5&a3=19   China: More crooks than patriots While outsiders accuse Beijing of running a slick army of official hackers, a greater danger is posed by legions of online criminals that the state is ill-equipped to police http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/CWTH6N/HK/h?a1=2013&a2=5&a3=19   Financial Times - Asia homepage   US business seeks fast track trade deals Senators, congressmen and aides have been discussing a bill that would give 'fast track' status to trade pacts agreed by the White House http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/B4LT65/HK/h?a1=2013&a2=5&a3=19   Low rates fail to spur M&A boom The lack of dealmaking in a historically low interest rate environment is a break from the past, when cheap capital fuelled waves of M&A http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/52FN13/HK/h?a1=2013&a2=5&a3=19   China Railway plans bond auction The bonds are the first batch that China Railway is expected to issue as it forges ahead with a blueprint to lay about 30,000km of new tracks http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/Z8EQRK/HK/h?a1=2013&a2=5&a3=19   World News - latest world news headlines - FT.com   Saudi prince urged arrest, court told Prince Abdulaziz bin Mishal al-Saud lobbied Jordan's King Abdullah to seek Faisal Almhairat's extradition from UK on fraud charges, documents claim http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/GY86VV/HK/h?a1=2013&a2=5&a3=19   New era as Swiss bank secrecy declines After a long battle to safeguard its 80-year tradition of banking secrecy, Switzerland faces a new era as it begins negotiations on a new EU tax accord http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/6AN3LF/HK/h?a1=2013&a2=5&a3=19   Police fire teargas on Islamists in Tunis Ansar al-Sharia supporters tried to gather in capital after Tunisian authorities stopped a meeting in Kairouane, a city some Muslims consider holy http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/Q3M5KI/HK/h?a1=2013&a2=5&a3=19   Polish defence spending set to soar Poland is gearing up for its biggest-ever increase in military equipment spending, splashing out $43bn on contracts over the next decade http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/A51LGV/HK/h?a1=2013&a2=5&a3=19   Weiner eyes comeback as NYC mayor Politician sitting on more than $4m that can only be used in city poll, which analysts say is motivation to join race to replace Bloomberg http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/CWTH60/HK/h?a1=2013&a2=5&a3=19   Companies news and analysis - FT.com   H&M rethinks sourcing policy Swedish brand is looking at countries such as Mexico and Brazil after opening its first store in the southern hemisphere this year in Chile http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/NRAZ4W/HK/h?a1=2013&a2=5&a3=19   US fund Monarch to open office in London US hedge fund has about a fifth of its $5.5bn under management invested in Europe and expects the figure to grow as more opportunities arise http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/87PUHJ/HK/h?a1=2013&a2=5&a3=19   Heron Tower offered £250m Sternlicht loan The deal, if it goes ahead, would be one of the highest profile examples of a non-bank lender providing debt capital to a UK company http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/XBYISM/HK/h?a1=2013&a2=5&a3=19   Asian groups stump up for European assets Asian companies are paying more than double the price of European assets, relative to earnings as they did three years ago, a study shows http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/RP54DJ/HK/h?a1=2013&a2=5&a3=19   Building blocks to cut output costs Companies such as Volkswagen are following Scania's lead in applying a modular strategy to create different brands from common components http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/A51LG9/HK/h?a1=2013&a2=5&a3=19   Markets   Tough oil pricing ahead, says Eni chief Paolo Scaroni, chief executive, says sluggish demand and new supply coming on to the market means the price of crude was 'more likely to go down' http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/6AN3LU/HK/h?a1=2013&a2=5&a3=19   Stock market optimism is hard to explain Equities rally in the face of flat earnings is partly down to how companies are deploying cash, but this will do little to boost economic growth http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/Q3M5D3/HK/h?a1=2013&a2=5&a3=19   Adani bullish on India energy prospects Industrialist says government is close to striking a deal to end a long-running crisis over coal imports that has crippled the power sector http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/CWTHOY/HK/h?a1=2013&a2=5&a3=19   Financial Times - Comment   Kerry displays his vaulting ambitions The secretary of state is diving in headfirst to the Middle East peace process, the Syrian conflict, Iran and even global warming and trade talks http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/FDG8CF/HK/h?a1=2013&a2=5&a3=19   It makes little sense but I'm a eurofanatic If you want to make a rational case for the EU, it is better to make it on the basis of geopolitics rather than economic efficiency http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/LSV2MH/HK/h?a1=2013&a2=5&a3=19   Britain needs a broader debate over cuts The country faces hard choices over public spending, such as whether to continue with the ring fences around health, pensioner benefits and schools http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/JQ0C79/HK/h?a1=2013&a2=5&a3=19   China's national problems start locally Local governments and state enterprises have become the agents of both the downswing in growth and increased concerns about financial risk http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/VTKD9G/HK/h?a1=2013&a2=5&a3=19   Beijing's Arctic goals are not to be feared The nation's motives in the region are perfectly comprehensible, relating as they do to climate change, transport and access to resources http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/LSV2M0/HK/h?a1=2013&a2=5&a3=19   Financial Times - Management   Karl-Johan Persson, H&M chief The grandson of the Swedish brand's founder insists price is not the only way to judge a company, and that its decisions are always made with a long-term view http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/A51L8W/HK/h?a1=2013&a2=5&a3=19   A meeting by any other name Something strange has happened to the word: it has vanished. Call it what you want but the chances are there are better ways of wasting you time http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/CWTH68/HK/h?a1=2013&a2=5&a3=19   Leading those older than you Managing older members of staff need not present any difficulties so long as they are judged simply on the quality of their work, writes Rhymer Rigby http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/WHDYS1/HK/h?a1=2013&a2=5&a3=19   Liquid stylist Ray Spencer works with drinks in advertising and movies, ensuring that they look appealing even when in the suboptimal conditions of film sets http://link.ft.com/r/NA70KK/7Z9KR2/D4L0IN/2OB8O5/SU4WYS/HK/h?a1=2013&a2=5&a3=19   Special Reports - FT.com Brazil & the US Top 50 Business Ideas Energy in the Americas Executive Education Innovation and the Economy Video Lex Ocado to take Morrisons online Ocado shares leapt 29 per cent on news of its deal to take Morrisons into online groceries. Lex's Vincent Boland and Oliver Ralph discuss how Ocado partner Waitrose will view the tie-up. Tools Your account    Portfolio Email Briefings    Price alerts Keyword alerts    RSS feeds Subscribe to FT.com     © THE FINANCIAL TIMES LTD 2013 ABOUT THIS EMAIL You have received this email because you have signed up from the NBE preference page. FT.com Change Briefings  •   Unsubscribe  •   Change Email Address  •   Forward this email to a friend  •   Privacy Policy  •   About Us  •   Help This email was sent by or on behalf of a company owned by Pearson plc, registered office at 80 Strand, London WC2R 0RL. Registered in England and Wales with company number 53723..