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Morning Wrap: today's top business stories

News stories from around the web.

Jaguar bets future on saloon market (FT)

Jaguar Land Rover is betting the future of its Jaguar brand on a new family of entry-level luxury vehicles to challenge BMW, Audi and Mercedes-Benz, driving the storied but largely underperforming British marque into fast-growing, high-volume segments.

Hackers target Apple’s developer site (FT)

Apple’s developer website has been targeted by hackers, at a critical time as app creators prepare for the launch of the iPhone maker’s latest mobile operating system later this year.

Audit market competition plans unveiled (BBC)

Major UK-listed companies must allow accountants to bid for audit work every five years, the Competition Commission has proposed.

It said that putting the work out to tender regularly would help to break up the dominance of the big four accountancy firms.

Archbishop of Canterbury Welby warns of bankers 'lynch mob' (BBC)

The Archbishop of Canterbury has described the naming and shaming of bankers in the wake of the financial crisis as "lynch mobbish".

The Most Reverend Justin Welby admitted sympathy for former bankers when hearing evidence as a member of the Banking Standards Commission.

British consultant detained in China's GSK probe (Telegraph)

A British consultant who specialises in fraud investigations in China has been detained as part of the country’s probe into GlaxoSmithKline’s £320m alleged bribery scandal.


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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.