One of the hot rumors of the week is that Apple is considering buying ARM, a company whose chip designs are in the iPhone. But the US company’s head honcho is squashing those rumors.

CEO Warren East says that, with ARM’s market capitalization at more than £3bn why fork out a fortune to own it when Apple and others can license the designs at a fraction of that? “Exciting though it is to have the share price pushed up by these rumours, common sense tells us that our standard business model is an excellent way for technology companies to gain access to our technology. Nobody has to buy the company,” East told the “Guardian” (