PRESS DIGEST - Financial Times - April 12

Financial Times

APPLE SUED OVER EBOOK PRICING

The U.S. Department of Justice sued Apple and five of the world's largest book publishers on Wednesday, alleging that they colluded to increase the price of ebooks and cost consumers "tens of millions of dollars".

NOKIA SHARES PLUNGE ON PROFIT WARNING

Shares in Nokia tumbled as much as 19 percent after the struggling Finnish handset maker warned that profits in its phone division would be worse than expected in the first and second quarters.

AVIVA CONSIDERS PLANS TO SELL US DIVISION

Aviva is considering plans to sell its life assurance business in the U.S. in a move analysts estimate could raise at least 1 billion pound ($1.59 billion) and mark an exit from one of the UK-listed group's core markets.

VALE LOOKS TO MEGA-SHIPS COMMISSION

Vale has signalled it is prepared to commission more than 100 of its controversial giant Valemax ships as the biggest producer of iron ore battles with Australia-based miners for the key Chinese market.

IRAN WOOS OIL BUYERS WITH EASY CREDIT

Iran is trying to skirt U.S. and European sanctions by luring nations to buy its oil on highly advantageous credit terms, say officials in the industry.

BARSKY MAKES A RETURN WITH MATRA

Maxim Barsky, the Russian oil executive who stepped down from BP's joint venture TNK-BP last October after being groomed for the top job for two years, has re-emerged as a strategic investor in Aim-quoted explorer Matra Petroleum.

URALKALI POSTPONES FULL LONDON LISTING

UralKali, the world's largest potash producer, is unlikely to seek a full London listing this year, but plans to improve its corporate governance.

TESCO TO SHAKE UP ADVERTISING STRATEGY

Tesco is to shake up its multimillion-pound advertising strategy as it strives to win back British shoppers.

MELROSE EXECUTIVES TO GET HUGE PAYOUT

Melrose's top executives have been awarded stock worth 126 million pounds after shareholders in the engineering turnaround specialist approved the crystallisation of its five-year incentive scheme.