Morning Wrap: today's top business stories

News from around the web.

New Statesman
Photograph: Getty Images

Google to challenge iPhone with Moto X (FT)

Google is preparing an attack on Apple’s iPhone with a device that is more aware of its surroundings and smart enough to anticipate how it will be used next, according to the head of the internet company’s Motorola subsidiary.

OECD calls for NHS ringfence to be reconsidered (Telegraph)

The Government should rethink its decision to protect the health service from spending cuts as “much more needs to be done” to get the UK’s public finances in order, the Organisation for Economic Co-operation and Development has said.

Berkshire spends $5.6bn on NV Energy (FT)

Berkshire Hathaway on Wednesday agreed to buy NV Energy, a power company serving customers in Nevada, for $5.6bn, saying the deal would help develop the state’s renewable energy resources.

Energy distribution firms hit by UK tax change (BBC)

Chancellor George Osborne has announced a change in tax rules to prevent businesses claiming capital allowances for costs met by other firms.

B&Q owner Kingfisher sees profits hit by cold weather (BBC)

The owner of B&Q, Kingfisher, has said first-quarter profits fell by nearly 30% after trading was affected by weak demand and the cold weather.