News Corp shares hit year’s high

News Corp shares rose to a 52-week record last week, topping the highs it hit before the 4 July story that News of the World had hacked murdered Milly Dowler’s phone. The media conglomerate lost nearly a quarter of its market capitalization, some $11bn, in just four weeks. But the market has reacted to strong figures and shares are now up 30 per cent on the lows of last summer.