Five media chief executives have urged the Government to take a tough approach in fighting internet piracy and go beyond its current plans even as it puts the final touches to its Digital Britain white paper.
Debenhams is today expected to announce plans to raise up to £400 million through a placing and open offer of shares in a bid to cut the department store chain's debt burden of almost £1 billion.
Some of the largest lenders to the private equity groups that led the $23.8 billion buy-out of Clear Channel Communications intend to turn down a proposed debt exchange, hoping to drive the radio and outdoor advertising company towards default.
Rupert Murdoch, who pushed out his longtime number two Peter Chernin earlier this year, has lured another former News Corporation stalwart back to the media conglomerate to be his right-hand man.
Britain's pensions crisis deepened after Barclays notified staff that it planned to shut its final-salary pension scheme to existing staff in a move that will shift more than 18,000 workers into a cheaper retirement plan.
One of the most eagerly awaited and bullish indicators of recovery in the British economy was published yesterday. The latest survey of business confidence in the services sector showed that output may already have started to rise in that part of the economy, which comprises 70 per cent of the total.
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