The editor of The Financial Times has announced big changes at the paper, reflecting how digital is continuing to transform even the most venerable and longstanding European-based news media titles.

An email by editor Lionel Barber to his staff announced that the news organization would cut 35 jobs, relegate print second to digital and hire 10 digital journalists as “old titles” like the FT continue to be “routinely disrupted by new entrants such as Google, LinkedIn and Twitter.” 

The strategy signals a “big cultural shift for the FT that is only likely to be achieved with further structural change,” Barber’s email continued. Journalists need to become “content editors rather than page editors," he said. "We must rethink how we publish our content, when and in what form, whether conventional news, blogs, video or social media.”Continue reading...

Ford reports surprise profit of $997 million. [NY Times]

Comcast close to final deal for NBC Universal. [NY Times]

Shanghai to unveil plans for $3.6 billion Disney amusement park. [Forbes]

Kraft expected to make hostile bid for Cadbury in a week. [Times of London]

Tata may allow assemblers to brand the Nano. [Business Standard]

Critics blast Kellogg's for suggesting its cereals boost resistance to H1N1 flu. [USA Today]

UK will purchase more Lloyds TSB, Northern Rock and RBS shares, may split banks into three new brands [NY Times, Brand Republic]. Santander and Virgin may bid for RBS shares [FT]. And RBS faces EU pressure to sell insurance brands Direct Line and Churchill [NY Times].

(More headlines: Bridgestone quits Formula One, Nestle, Bob Marley.)Continue reading...