I often get asked by both GMAT/ GRE/ EA test takers and clients that have been admitted to business school for reading lists. For a list of current excellent books I have added a good FT link.
Remember that a common interview question is “What are you reading at the moment?” The expected answer is a high-powered business book challenging some sort of assumption, and even better if it is on the FT list.
For free/ mobile resources, I can recommend some very good ones that I personally use.
There are two excellent podcasts that deal with peak performance in business and life, one is Tim Ferris, and the next is James Altucher. Graduate business students should sort through the podcast library and find discussions with leading fund managers and entrepreneurs, both of whom are frequent guests.
Another great free reading source is the BBC news. There is a high-quality app. Business students will appreciate BBC Capital and BBC Future in particular as these highlight trends, developments, and success secrets.
This could be a very long post, but I will limit it to these for right now. Further suggestions are welcome in the comments!