Morning Wrap: today's top business stories

News stories from around the web.

New Statesman

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.