HACKING FEARS SPARK TRINITY REVIEW
Trinity Mirror, the publisher of the Daily Mirror, has launched a review of its editorial controls and procedures amid investor anxiety that phone-hacking claims could spread beyond the defunct News of the World. Trinity saw its shares fall 9.8 per cent yesterday over concern among investors that the phone-hacking scandal that has ripped through Rupert Murdoch’s News International was not isolated to one newspaper group.
MEPC EXPLORES OPTIONS AFTER DEBT REVAMP
Property company MEPC has been lined up for a partial sale or return to the public market among options to help develop the business following a long-term refinancing of £470m of securitised debt this month.
The 65-year-old company owns 8.5m sq ft of business parks across the UK with a value of more than £900m.
WARNING SOUNDED OVER OFFSHORE AUDITING
Regulators are scrutinising the “offshoring” of audit work from richer economies to cheaper locations such as India for fear it could make the vetting of accounts less rigorous. The International Forum of Independent Audit Regulators (IFIAR) is questioning leading auditors including PwC and Deloitte about the extent to which they plan to parcel out tasks to staff in other countries.
APPLE APP STORE RULES HIT CONTENT DEVELOPERS
Amazon.com, Google, Rhapsody and Spotify are among a raft of media companies whose iPhone and iPad applications have become caught up in new rules being enforced by Apple on how content is sold through its App Store.
BIG SIX SHOULD PAY FOR THE DOORSTEP DEL BOYS, SAY MPS
People who have been pressured into needlessly signing up to new utility suppliers should be paid compensation by their energy provider, according to MPs. The Energy and Climate Change Select Committee has called on suppliers to ditch doorstep selling, which, according to Ofgem, results in a quarter of all people switching energy supplier. The practice came under scrutiny after a court case in May.
BANKS STEP INTO THE BREACH FOR AGEING NORTH SEA FIELDS
Banks including Lloyds are preparing to underwrite the future cost of decommissioning a North Sea field for the first time because the oil industry does not trust the government to pay its share. Bankers say it has become a test case over estimated £20bn dismantling costs.
The Daily Telegraph
JOB HUNTERS TO SUBMIT LINKEDIN PROFILES INSTEAD OF CVS FOR ROLES
Thousands of employers have begun allowing job hunters to apply for a role at their company by submitting their LinkedIn profile, rather than a CV or application form. From today, employers using the free service have an “apply with LinkedIn” button on their corporate website which enables people to put themselves forward for a role using their existing online profile with the social networking site.
BOMBARDIER CHAIRMAN COLIN WALTON: THAMESLINK DECISION NEEDS TO BE REVIEWED
The chairman of Bombardier UK has demanded an official review of the Government’s decision to reject its bid for a £1.4bn Thameslink contract in favour of Siemens, the German manufacturer.
THE WALL STREET JOURNAL
BP AWARDED NEW TRINIDAD DEEPWATER BLOCKS
BP’s plan to increase its global deepwater portfolio has been boosted by the award of two more exploration and production blocks offshore Trinidad and Tobago, the UK oil major said yesterday. The new blocks mean BP will double its acreage in the Caribbean island nation, which already accounts for 12 per cent of the company’s global oil and gas production.
BRIDGEPOINT INVESTOR FILES FOR STAKE SALE
Shares of Bridgepoint Education Inc. fell sharply yesterday following news that Warburg Pincus LLC, which holds about two-thirds of the for-profit college operator’s common stock, has registered to sell its entire stake. Bridgepoint reported the registration late Friday.