Morning Wrap: today's top business stories

News stories from around the web.

New Statesman

Apple's profit beats estimates as iPhone sales surge (BBC)

Shares of computer and smartphone maker Apple rose nearly 5% in after-hours trading after it reported better-than-expected profits for the third quarter.

It made $6.9bn (£4.5bn) profit for three months to June, thanks in part to good sales of its iPhone smartphone.

Banks to publish local lending data (BBC)

Major UK banks will reveal details from January of their lending in thousands of local areas, Chief Secretary to the Treasury Danny Alexander has announced.

He hopes publishing lending data across 10,000 postcode areas will boost credit to homeowners and small businesses.

Firms 'could quit UK' if Heathrow was shut (Telegraph)

Businesses that employ thousands of people around Heathrow have said that they would not relocate if the airport was shut down and would consider leaving the UK entirely.

Vince Cable criticises Bank of England 'capital Taliban' (Telegraph)

Vince Cable has accused the Bank of England of acting like the "capital Taliban" for imposing restrictions on lenders that are holding back Britain's recovery.

US plans criminal charges against SAC Capital (FT)

US prosecutors are preparing criminal charges against SAC Capital, the $15bn hedge fund run by Steve Cohen that is the subject of an insider trading investigation, according to a person familiar with the matter.