May 28, 2015 / 12:26 AM / 2 years ago

PRESS DIGEST- Financial Times - May 28

May 28 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

APPLE EYES CAR AS ‘ULTIMATE MOBILE DEVICE’

(on.ft.com/1FbAgSr)

JPMORGAN ORDERED TO PROVIDE CHINA DETAILS

(on.ft.com/1FbAB7z)

AVAGO IN LATE-STAGE TALKS TO BUY BROADCOM

(on.ft.com/1FbASr8)

NORWAY‘S OIL FUND LOOKS TO DROP COAL POWER UTILITIES

(on.ft.com/1FbBayp)

Overview

Jeff Williams, Apple’s senior vice president of operations, while replying to an audience question at the Code conference said, “The car is the ultimate mobile device, isn’t it?” This was the strongest hint yet of the Cupertino, California-based company’s plans of disrupting the automotive industry.

The U.S. Securities and Exchange Commission has ordered JPMorgan Chase & Co to hand over any correspondence with high-ranking Chinese official Wang Qishan, as it probes the connection between the company hiring relatives of Chinese officials and winning big business in the country.

U.S. chipmaker Avago Technologies is close to buying rival Broadcom, in a deal that would create an entity worth $70 billion.

Norway’s massive $916 billion oil fund will divest its investments in companies whose business relies more than 30 percent on coal, either in terms of revenue or in terms of percentage of power generated from it. The move could be a big jerk to European utility companies that rely on coal to generate power. (Compiled by Ankush Sharma in Bengaluru)

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