J K Rowling—the world’s richest author—is facing a multimillion-pound lawsuit after being accused of stealing ideas for her Harry Potter series from the British author of another children's book.

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Services such as Twitter, Facebook, Foursquare and Buzz can alert criminals when users are not home. It predicted that the new wave in social media could eventually lead to big rises in home insurance premiums.

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S&P has raised Turkey’s credit ratings. The ratings agency also called Turkey’s banking system one of the strongest and least-leveraged in Eastern Europe with a well capitalised banking system and a low leverage of the household sector.

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