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The Government could suspend the internet accounts of illegal downloaders after a challenge to new laws was overturned in the High Court. Justice Kenneth Parker rejected an appeal by BT and TalkTalk which claimed that the Digital Economy Act 2010 was seriously flawed and 'incompatible' with European law, the Daily Mail reports.The Financial Services Authority has ordered an investigation into the handling of the Prudential's $35bn (£21.3bn) bid for Asian insurer AIA. City law firm Clifford Chance is understood to be conducting the investigation on behalf of the FSA and the Prudential, according to the Telegraph.HSBC's new chief executive is preparing a radical shake-up of the normally staid bank, slashing costs and reallocating capital in an effort to boost profitability and also resuscitate its flagging US operation. Stuart Gulliver, HSBC's former investment banking head who took charge of the whole group in January, has told associates he is determined to overhaul the culture of a group that has sometimes been run as a loosely connected federation of local fiefdoms, the Financial Times reports.Mohammed Fayed, the former owner of Harrods, has made a surprise approach for Pinewood Shepperton. The studios group behind the James Bond films is already pondering a previous approach by Peel Holdings offering 190p a share, which values Pinewood at £88m, the Telegraph writes.The price of gold leapt to a record above $1,500 a troy ounce and silver soared past $45 as the huge debt burden of western countries burnished the appeal of the precious metals. Investors are focusing on fears of the debasement of paper currencies amid rising inflation from China to Europe and a warning by Standard & Poor's that the US could lose its triple A credit rating, the Financial Times reports.Marks & Spencer has forced Ann Summers to pull its saucy "Your S&M" promotion from its shop windows and website after claiming it parodied M&S's marketing. The high street retailer got its knickers in a twist and threatened legal action after Ann Summers lifted the veil on its "S&M Squeal Deal" campaign, a tongue-in-cheek reference to the M&S's meal deal offers, the Independent reports. A warning by the Bank of England about the fragile state of consumer spending led to a sharp fall in the pound as the City pushed back its forecast for an increase in interest rates until late this year. The pound lost 1% against the euro in the immediate aftermath of the release of the minutes of the meeting of Threadneedle Street's monetary policy committee earlier this month, as dealers saw November as the likeliest date for the Bank to raise the cost of borrowing.