May the bidding begin and the steady growth of clicks and mortar

Later today, bidders in the US wireless race will come under starter's orders.

The Financial Times reports that the US is some way behind Europe in its wireless development, predicting bidding will not reach the heights achieved in the UK and Germany this year. However, with several of the biggest carriers rapidly running low on the most vital commodity - wireless spectrum - the auction is likely to be nonetheless noteworthy... The Times leads the same story with Vodafone's participation, a joint venture with Bell Atlantic, and lists as a key rival AT&T, which has a global alliance with BT. Vodafone and BT were yesterday reported to be vying for control of Japan's third largest telecoms operator, now the battle is looking to have truly global proportions... Coming back across the pond, The Times brings us the latest research which points to under-investment in IT in the UK, coupled with poor performance in the manufacturing sector, having prompted our great nation to have slipped down the global profits league. Rated second last year, the National Statistics study now rates the UK a poor relation in fifth place... The Guardian, meanwhile, reports on the growing strength of old economy companies in the online world. According to a study by KPMG and Henley Management College, while the media has this year buzzed around the dot-doom of start-ups falling down, clicks and mortar companies have been steadily investing in digital technology to build secure strategies for efficient ecommerce... Finally, The Times reports WorldPay has such confidence in its secure online payment system that it is launching an internet fraud-free guarantee. WorldPay is expected to float on the LSE in the next few months and is backed by heavyweights such as NatWest and Energis. The company will charge a small percentage on each transaction handled in return for a guarantee that should the right details fall into the wrong hands, a full refund will be given. Similarly, if goods ordered online fail to materialise, all costs will be reimbursed...