∞ Financial Times drops iPad app, replaces with Web site

The Financial Times has pulled its iPad app from App Store circulation, replacing it with what the publication calls “a new, faster, more complete app” – a customized Web site – instead.

“We’re encouraging our readers to switch immediately to the new FT web app, as many new features and sections will be added over the coming weeks,” reads copy on the Financial Times Web site.

The change was motivated by Apple’s in-app subscription policy, which requires publishers to fork over 30 percent of their revenue on subscriptions purchased within their applications. Apple changed its policy at the end of June, after first announcing it with the introduction of News Corp.’s The Daily iPad application in February.

The decision hasn’t sat well with some publishers, who have had to pull their apps or update them to remove subscription functions. Amazon.com, for example, is encouraging iPad users to try its Kindle Cloud Reader Web site instead, which provides similar functionality as its Kindle iOS app but also enables users to buy new Kindle content.