Friday newspaper round-up: HMV, Dyson, Autonomy

The biggest music and movies store in Europe opens on Friday as the new Canadian owner of HMV takes the first step in a bold expansion plan he hopes will defy slumping sales of CDs and DVDs. The size of a supermarket and called HMV Vault, the Birmingham shop is stocking 80,000 CDs and 25,000 vinyl albums. It is a brave move at a time when traditional high-street retailers are closing in record numbers and in a business where online streaming has battered sales of physical entertainment products. – Guardian

The chief executive of British Airways’ owner has expressed sympathy for striking pilots, and urged – with thinly veiled criticism – the airline’s boss to “get involved” to negotiate a deal. Willie Walsh, the chief executive of IAG, raised hopes for a resolution to a pay dispute that saw the first pilot strikes in British Airways history, admitting it was “frustrating for me at times” to be on the sidelines of the dispute. He said it was a matter for BA’s management, but added that there was a “deal to be done” and he was “sure pilots’ issues could be resolved”. – Guardian

Sir James Dyson is pulling the plug on his flagship electric car project after two years of work because it is not commercially viable. In an email to employees, the inventor said his firm had tried and failed to find a buyer who could take the scheme on. Sir James said: "The Dyson board has therefore taken the very difficult decision to propose the closure of our automotive project." – Telegraph

Dozens of housing, regeneration and infrastructure projects across the country could be cancelled after the Treasury unexpectedly raised borrowing costs, local authorities have warned. The Treasury notified local authority finance officers on Wednesday that it was to sharply increase the interest rate on new loans from the Public Works Loan Board, the government body that issues loans to councils for capital projects. – The Times

Auditors at Deloitte failed to challenge bosses at Autonomy before its sale to Hewlett-Packard, a disciplinary tribunal has heard. The Financial Reporting Council, the audit watchdog, has alleged that Deloitte failed to properly audit the British software company. A seven-week tribunal against Deloitte and two of its partners opened in London yesterday. – The Times