Paper clips: Indian IT, Logica and Steve Jobs

In today's UK newspapers, Logica CMG is widely scrutinised after yesterday's financial results, in which it revealed that its organic IT growth is below expectations. Logica's shares fell, but The Independent argues that this is an over-reaction, and that the company is basically sound. Those of you who are self-employed may be pleased to hear that Logica is also blaming the high cost of hiring IT contractors.

Over in The Times, you can read that the Indian IT market has grown by 1,000% in the last decade, and is on track to be worth £30bn in exports by 2010. That would make it nearly as powerful as the US, in the software exports market.

The Times is also excited by the rumours, which we brought to you yesterday, that Steve Jobs has reportedly been questioned by investigators probing Apple's stock options. It reports that government investigators in the United States have privately condemned Apple’s internal inquiry into backdating stock options and have asked the computer company to hand over more documents detailing how executives were awarded the controversial bonuses.

The Guardian reports that the New York City Employees Retirement System, which manages £45bn in investments, has filed proceedings in a Californian court against Apple. This class action suit claims that shareholders lost out through Apple's mishandling of its executive options.
And in the Telegraph, there are claims that the Serious And Organised Crime Squad is paralysed by bureaucracy. This is the agency that is meant to lead the fight against dangerous cybercriminals, but it appears that Soca is making very little headway, on anything.