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Morning Wrap: today's top business stories

News stories from around the web.

P&G chief AG Lafley promotes four executives to head major units (FT)

AG Lafley, Procter & Gamble’s newly returned chief executive, has promoted four executives to head major product divisions, setting them up as the leading contenders to replace him.

Patent ruling feeds Samsung’s rising confidence (FT)

The last time that Apple was ruled to have breached a patent held by Samsung Electronics, the latter company did not have long to feel smug.

Local communities offered more say over wind farms (BBC)

Local communities are to be given more powers to block onshore wind farms, but also offered greater incentives to accept them, the government says.

Premier League revenues to rise by 25%, says Deloitte (BBC)

Premier League clubs' revenue reached a record £2.36bn in 2011-12, according to football finance experts at Deloitte.

It estimates revenue grew to £2.5bn in 2012-13, and will grow by a further £600m, or 25%, in 2013-14, when the league's new broadcast deal kicks in.

London threatened by plans to move Libor regulation to Paris (Telegraph)

Supervision of the scandal hit Libor interest rate could move to Paris under plans being drawn up by the European Commission, dealing a potential blow to London’s financial pre-eminence.

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No, David Cameron’s speech was not “left wing”

Come on, guys.

There is a strange journalistic phenomenon that occurs when a party leader makes a speech. It is a blend of groupthink, relief, utter certainty, and online backslapping. It happened particularly quickly after David Cameron’s speech to Tory party conference today. A few pundits decided that – because he mentioned, like, diversity and social mobility – this was a centre-left speech. A leftwing speech, even. Or at least a clear grab for the liberal centre ground. And so that’s what everyone now believes. The analysis is decided. The commentary is written. Thank God for that.

Really? It’s quite easy, even as one of those nasty, wicked Tories, to mention that you actually don’t much like racism, and point out that you’d quite like poor children to get jobs, without moving onto Labour's "territory". Which normal person is in favour of discriminating against someone on the basis of race, or blocking opportunity on the basis of class? Of course he’s against that. He’s a politician operating in a liberal democracy. And this isn’t Ukip conference.

Looking at the whole package, it was actually quite a rightwing speech. It was a paean to defence – championing drones, protecting Britain from the evils of the world, and getting all excited about “launching the biggest aircraft carriers in our history”.

It was a festival of flagwaving guff about the British “character”, a celebration of shoehorning our history chronologically onto the curriculum, looking towards a “Greater Britain”, asking for more “national pride”. There was even a Bake Off pun.

He also deployed the illiberal device of inculcating a divide-and-rule fear of the “shadow of extremism – hanging over every single one of us”, informing us that children in UK madrassas are having their “heads filled with poison and their hearts filled with hate”, and saying Britain shouldn’t be “overwhelmed” with refugees, before quickly changing the subject to ousting Assad. How unashamedly centrist, of you, Mr Prime Minister.

Benefit cuts and a reduction of tax credits will mean the Prime Minister’s enthusiasm for “equality of opportunity, as opposed to equality of outcome” will be just that – with the outcome pretty bleak for those who end up losing any opportunity that comes with state support. And his excitement about diversity in his cabinet rings a little hollow the day following a tubthumping anti-immigration speech from his Home Secretary.

If this year's Tory conference wins the party votes, it’ll be because of its conservative commitment – not lefty love bombing.

Anoosh Chakelian is deputy web editor at the New Statesman.