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Daily insight and analysis of breaking news from Charles Pretzlik, UK companies editor and one of the FT’s sharpest City watchers. Help shape tomorrow’s paper: read more about the blog and send and read comments online here - -
News Corp reshuffles, plus Xstrata bid talk
The Murdochs are the media’s ruling monarchs and today is a Hello! moment like you seldom get in business journalism. James Murdoch is giving up being chief executive of BSkyB to succeed his father as non-executive chairman
Nice work at RBS
The Bank of England’s quarter-point cut in rates had already been priced in, but it’s a significant moment nevertheless
More deals, predicts Xstrata boss
FTSE rises despite gloomy economic data but mixed results and a mining deal help stocks rise
Abramovich’s Highland clearance
Roman Abramovich plans to take a 40% stake in Highland Gold for $400m, but because the miner is registered in Jersey, he is able to disregard normal rules on pre-emption rights and mandatory offers
Charles Pretzlik: Burren bid is not the end
The big corporate event of the day in the UK so far is Burren Energy agreeing to an improved bid from Eni. The shares, however, are trading through the terms, suggesting this process may not be over yet
Charles Pretzlik: A&L less good than it looks
Don’t be fooled by the 14% rise in Alliance & Leicester shares earlier this morning. This has more to do with the fact that this stock was one of the most heavily shorted in the FTSE 100
Charles Pretzlik: Retail gloom
The impression of a serious consumer slowdown given by Tuesday’s bad news from Signet and Pendragon was confirmed today by DSG International, owner of Currys and PC World
Charles Pretzlik: Regal hits cash (maybe)
Royal Dutch Shell has signed a preliminary $410m agreement to take a 51% interest in two Ukrainian gas fields controlled by a subsidiary of Regal Petroleum
Charles Pretzlik: Northern Rock weighs on Treasury
The government looks to be in an increasingly tight bind on Northern Rock
