News Corporation

Clive Cowdery, the self-made insurance tycoon who gives away much of his wealth, is considering a surprise bid for the 630 bank branches being sold by Lloyds Banking Group.

Leading brokers have urged investors to buy BSkyB as shares in the broadcaster fell 18% and News Corporation withdrew its bid for the firm.

IS BSKYB A BUY?

Shares in BSkyB have rebounded after a 3% fall this afternoon as Rupert Murdoch bowed to pressure to withdraw his bid for the remaining 61% of the broadcaster.

MURDOCH SHOULD GIVE UP NEWS CORP

News Corporation has moved to shore up its share price with a $5bn stock repurchase programme.

European leaders last night bowed to the inevitable and conceded Greece is likely to default on its massive debt burden, which would be a first among the 17 countries using the euro, according to reports.

US pension funds and other institutional investors have filed an amended complaint alleging "rampant nepotism" and "failed corporate governance" at News Corp in light of the ongoing British phone hacking scandal.

Goldman Sachs has upgraded BSkyB to a buy rating, saying the 14% drop in its share price since Thursday has produced an ‘attractive entry point'.

Rupert Murdoch's takeover of BSkyB appeared to be dead in the water last night following allegations executives at his British newspaper empire mounted a cover-up of the full scale of criminal activity at the News of the World.