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Morning Wrap: today's top business stories

News stories from around the web.

Facebook shares leap on mobile ad surge (FT)

Shares leapt as much as 20 per cent in after-hours trading in New York on Wednesday after the social networking company beat analyst expectations on revenues and profits.

Google takes on Apple in the living room (FT)

Google has made a fresh attempt to stake out a place in the world’s living rooms with a new gadget for streaming video and other internet services to TV sets for the rock-bottom price of $35.

China unveils fresh measures to boost growth (BBC)

China has unveiled a series of moves aimed at boosting growth, indicating that policymakers are concerned about the slowdown in its economy.

Church plans to 'compete' Wonga out of business (BBC)

The Archbishop of Canterbury has warned the online lender Wonga that the Church of England plans to force it out of business - by competing against it.

ScottishPower blames government energy efficiency schemes for rising costs (Telegraph)

ScottishPower has reignited the row over who is to blame for rising energy bills after reporting the costs of government energy efficiency schemes had more than doubled since last year.