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Руперт Мердок
17 сентября, 15:50

Mike Huckabee and the Rise of Christian Media Under Trump

The former Arkansas governor has a new television show on Trinity Broadcasting Network, and a powerful first guest.

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17 сентября, 14:46

Media should reflect all society, not just a typically male ruling class

Research shows number of female bylines on British daily front pages has increased by just three percentage points in five yearsA hunch five years ago that the front pages of British newspapers were dominated by men prompted research that proved the hunch right: daily newspapers were full of male writers and voices.Since then much has changed, not least the appointment of the UK’s second female prime minister, the first woman to run for the highest office in the US and, closer to home, the appointment of the first female editor-in-chief of the Guardian. Continue reading...

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17 сентября, 09:00

Deal or no deal, Sky is the regulators’ hardest ever test

Karen Bradley has, as expected, referred the Murdoch bid to the authorities. But the questions it raises go to one of the most fundamental issues in mediaWeak governments put off making tough choices. Which is obviously one reason why the culture secretary plants more acres of long grass whenever the next decisions about the Murdoch takeover of Sky have to be taken. Is Rupert too powerful, a political puppet master? Hardly. He can’t even get Tory ministers dancing to his tune these days.It was always pretty likely that Karen Bradley would take the long, high road of non-approval, going to Ofcom, pondering for months, then referring the deal to the Competition and Markets Authority, led (in the great and good way of such things) by a former Ofcom chair. Expect six months more pondering and ring-a-roses, with maybe a few extra weeks on top. Much havering in the marsh. It’s a weird way for an allegedly buccaneering Brexit nation to do business. Continue reading...

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16 сентября, 00:43

The complicated politics holding up Rupert Murdoch's Sky deal

There's a question floating among the British political and media figures. Are Rupert Murdoch's dreams of owning all of Sky plc falling apart?

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15 сентября, 18:34

Lucky us – it’s an offer we can’t refuse from the Murdochs | Marina Hyde

First the media empire gave us Brexit. Now it says it had better take over Sky, to save us all from BrexitI always enjoy Rupert Murdoch’s how-very-dare-you moments, those occasions on which he draws himself up to his full ethical height. Last December he wrote a letter to this newspaper debunking as “fake news” a quote frequently attributed to him. You might have seen it (indeed, the former Times city editor who claims it was said to him stands by it): “When I go into Downing Street, they do what I say; when I go to Brussels, they take no notice.” Anyway, Rupert was having none of it, in a missive in which he declared: “I have made it a principle all my life never to ask for anything from a prime minister.” Who could fail to enjoy this pen portrait of a mannerly figure who finds requests beneath him?The obvious point about Murdoch has always been that he doesn’t have to ask. He is largely second-guessed, and fearfully so. As mentioned here before, when I worked at the Sun I once had a four-sentence diary item about Barbra Streisand pulled on the basis that some years previously an editor had noticed a Barbra Streisand CD on one of Murdoch’s desks, and concluded that he was a fan. Murdoch, obviously, had never said anything to this effect. Listen, he has made it a principle all his life never to ask people to not write faintly sarcastic things about Barbra Streisand. Continue reading...

14 сентября, 19:43

Judge Fox bid for Sky on merits not politics - James Murdoch

Britain should judge Rupert Murdoch's bid for broadcaster Sky on facts and not politics or risk stifling inward investment after Brexit, his son and fellow executive James Murdoch said on Thursday. Appearing before an audience of media executives hours after the government referred Twenty-First Century Fox's $15 billion bid for a detailed investigation, James Murdoch struck a combative tone in defence of his family's record in building global businesses that span TV, film and news. "Whether or not 30 years ago someone had a grievance about a political position that a newspaper took ... is irrelevant," Murdoch, who is CEO of Twenty-First Century Fox and chairman of Sky, said at the Royal Television Society's Cambridge Convention.

14 сентября, 16:36

Judge Fox bid for Sky on merits not politics: James Murdoch

Britain should judge Rupert Murdoch's bid for broadcaster Sky on facts and not politics or risk stifling inward investment after Brexit, his son and fellow executive James Murdoch said on Thursday. Appearing before an audience of media executives hours after the government referred Twenty-First Century Fox's $15 billion bid for a detailed investigation, James Murdoch struck a combative tone in defense of his family's record in building global businesses that span TV, film and news. "Whether or not 30 years ago someone had a grievance about a political position that a newspaper took ... is irrelevant," Murdoch, who is CEO of Twenty-First Century Fox and chairman of Sky, said at the Royal Television Society's Cambridge Convention.

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14 сентября, 15:44

James Murdoch warns No 10 not to shun Fox's Sky bid in Brexit run-up

Fox chief executive says leaving the EU means it is more important than ever for Britain to attract investment • Karen Bradley letters reveal concerns over Fox standardsJames Murdoch has warned the government not to turn its back on 21st Century Fox’s bid for Sky as the UK prepares to leave the European Union, claiming Brexit makes it more important than ever that the country attracts investment.Murdoch said he was looking forward to going through the regulatory process on the deal if the UK “truly is open for business”, and defended his track record as chief executive and chairman of Sky, saying that “has to count for something”. Continue reading...

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14 сентября, 13:39

U.K. puts six month block on Fox-Sky deal

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21st Century Fox's $15 billion takeover of Sky TV hangs in the balance because of U.K. concerns about broadcasting standards at Rupert Murdoch's group and the concentration of media ownership.

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14 сентября, 13:38

U.K. puts six month block on Fox-Sky deal

The British government has confirmed that it is ordering an extensive review of Rupert Murdoch's $15 billion planned takeover of Sky TV.

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14 сентября, 12:43

Murdochs' £11.7bn Sky takeover bid referred to competition watchdog

Competition and Markets Authority to launch in-depth investigation over media plurality and broadcasting standards The Murdoch family’s proposed £11.7bn takeover of Sky has been referred to the Competition and Markets Authority for further investigation.The culture secretary, Karen Bradley, told the House of Commons of the decision two days after signalling her intention to pass the deal to the competition watchdog for six months of in-depth scrutiny. Continue reading...

13 сентября, 17:03

Twenty-First Century Fox's Sky Buyout Hits Further Roadblock

Twenty-First Century Fox's (FOXA) proposed acquisition of Sky plc hit a further roadblock after U.K. Culture Secretary Karen Bradley demanded detailed review.

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13 сентября, 15:03

Government accuses 21st Century Fox of inadequate compliance

Karen Bradley letter explains why she intends to refer Fox’s proposed takeover of Sky to competition authoritiesThe lack of compliance procedures for Fox News was a serious failure, the government has told 21st Century Fox in a strongly worded letter that outlines the reasons why the Murdochs face a major investigation into their track record as media owners.The failure calls into question the Murdochs’ commitment to broadcasting standards and potentially suggests that compliance issues at Fox are only deal with after being identified externally, the government adds. Continue reading...

13 сентября, 14:57

Frontrunning: September 13

Apple takes shine off global stocks rally (Reuters) Apple’s New iPhones Gamble on Allure of Premium Pricing (WSJ) North Korea defiant over U.N. sanctions as Trump says tougher steps needed (Reuters) Crews Face Herculean Task Restoring Power in Florida (WSJ) Supreme Court Reinstates Travel Ban’s Refugee Restrictions (WSJ) Seadrill Files for Bankruptcy in Effort to Shrink Debt Burden (BBG) There’s a Speeding Mass of Space Junk Orbiting Earth, Smashing Into Things (WSJ) Act or Wait? Fed Debate Heats Up After Inflation Misses Target (BBG) Congress votes to call on Trump to denounce hate groups (Reuters) Uber’s Legal Chief Salle Yoo Is Resigning (WSJ) Greece to beat budget target, plans more bonds: finance ministry official (Reuters) Inequality Persists Despite U.S. Progress on Incomes and Poverty (BBG) Cities Swimming in Raw Sewage as Hurricanes Overwhelm Systems (BBG) 30% of Bank Jobs May Disappear in Next Five Years: Ex-Citi CEO Pandit (BBG) After the Equifax Hack, LifeLock Sign-ups Jump Tenfold (BBG) Emails Show How the Food Industry Uses ‘Science’ to Push Soda (BBG) IEA Sees Strongest Global Oil-Demand Growth in Two Years (BBG) Saudi Arabia Pushes OPEC on New Tack to Curb Oil Supplies (WSJ) J.C. Penney Missed Out on 3300% Rally as Dumped Asset Skyrockets (BBG) No federal charges for Baltimore cops in Freddie Gray's death (Reuters) China Prepares Sale of $2 Billion in U.S.-Dollar Bonds (WSJ)   Overnight Media Digest WSJ - Apple Inc introduced a trio of new iPhones, including the premium iPhone X, which will cost from $999 to $1,149. on.wsj.com/2xXSdbs - DowDuPont Inc is altering its plan to splinter into three companies, bringing to an end the threat of a fight with as many as four activist investors. on.wsj.com/2xYrSdt - Britain pledged to contribute troops and to work with the European Union to implement foreign sanctions after Brexit. on.wsj.com/2xYKslH - U.S. President Donald Trump touted what he described as a plan by Malaysia Airlines Bhd to spend between $10 billion and $20 billion on Boeing Co jets and General Electric Co engines as he opened a White House meeting with Malaysia's prime minister Najib Razak. on.wsj.com/2xYZ4RO - Salle Yoo, the top lawyer at Uber Technologies Inc, is departing the company as it faces three federal investigations into its operations and welcomes a new chief executive. on.wsj.com/2h0v2dj - Samuel Shen, a Microsoft veteran of 24 years and the former general manager of its cloud and enterprise business in China, took the job as JD.com Inc's president of cloud unit. on.wsj.com/2h0d6iT - The Donald Trump administration threatened to impose further sanctions on China if Beijing does not do more to shut down banks and other Chinese firms aiding North Korea. on.wsj.com/2gZPf2N - The UK government referred Twenty-First Century Fox Inc's $15.5-billion proposal to consolidate ownership of Sky Plc to British antitrust regulators and said it was likely to broaden that review to include Fox's commitment to the country's broadcasting standards. on.wsj.com/2h25Nr4   FT - Businesses in South Africa have come under pressure to cut ties with KPMG over the auditor's work for companies owned by the Gupta family, as the fallout deepens from a scandal that has caused the collapse of Bell Pottinger's British arm. on.ft.com/2eTrwgk - Concerns over standards at Fox News Network has put Rupert Murdoch's proposed 11.7 billion pound ($15.54 billion) takeover of European pay-TV group Sky Plc into doubt after the UK government signalled that it was likely to widen an investigation by regulators into the deal. on.ft.com/2eUDlTF - DowDuPont has revised its plan to break up into three separate companies by shifting some operations in the three units, a plan welcomed by its activist investors. on.ft.com/2eTwDx8   NYT - Nancy Gibbs, the first woman to lead Time magazine, is stepping down as editor in chief, ending her four-year run at the publication's helm. nyti.ms/2f3ZYZN - Britain's culture minister said on Tuesday she was inclined to ask the country's competition regulator to carry out a detailed review of a bid by Rupert Murdoch's Twenty-First Century Fox to take full control of the British satellite television giant Sky Plc. nyti.ms/2jnRKgg - After a year-long investigation, the National Transportation Safety Board concluded that a Tesla Inc system capable of automatically steering and controlling a car had "played a major role" in a fatal crash in Florida. nyti.ms/2h2ypk9 - DowDuPont Inc, the chemicals giant, said it would shift the focus of its reorganization plan after shareholders opposed a proposal to break up the company. nyti.ms/2eUN10i   Canada THE GLOBE AND MAIL ** The Real Estate Council of Ontario (RECO) has laid charges against three realtors for allegedly accepting money from prospective home buyers in exchange for preferential access to preconstruction condo units. tgam.ca/2eUVJMc ** Brookfield Infrastructure Partners LP is on the cusp of its second decade, and chief executive officer Sam Pollock is shoring up capital while preparing to welcome a new slate of index investors to mark the occasion. tgam.ca/2eW31zs ** Shareholders in Home Capital Group Inc have resoundingly rejected Warren Buffett's bid to boost his stake in the mortgage lender, which must now try to rebuild its fortunes without additional support from its star investor. tgam.ca/2eUQyMm ** Canada and Britain have joined forces in their efforts to get Boeing Co to drop its trade complaint against Bombardier Inc, with British Prime Minister Theresa May taking her concerns over the case to U.S. President Donald Trump. tgam.ca/2eUR0Ky NATIONAL POST ** The Financial Accountability Office of Ontario on Tuesday released a commentary covering the province's proposal to increase the minimum wage to C$15 ($12.4) an hour, finding the added labour costs for businesses will increase workers' incomes, but that those extra payroll costs will force firms to axe some lower-income positions. bit.ly/2eUHrv5 ** Single-family house prices may be overvalued by as much as 60 percent in Toronto, but cooling measures may take a bigger bite out of markets away from the country's largest metro area, says a new report. bit.ly/2eU8x5i ** Canada's two major rail companies, Canadian National Railway Co and Canadian Pacific Railway Ltd, sounded off on Tuesday against a new legislative proposal they say will give U.S. competitors unfair access to the Canadian rail network, and potentially cause more of the country's smaller and remoter rail lines to be abandoned. bit.ly/2eVrgh1   Britain The Times - 21st Century Fox Inc's 11.7 billion pounds ($15.54 billion )bid to take over Sky Plc has suffered a setback after the culture secretary, Karen Bradley, said that she was minded to refer the deal to regulators over concerns about broadcasting standards. bit.ly/2xXZ3hc - High Court judges will be asked to rule on whether the inquiry team investigating the causes of the Grenfell Tower fire is sufficiently ethnically and socially diverse. bit.ly/2xY2AMr The Guardian - The Murdochs face the biggest investigation into their record as media owners since the Leveson inquiry after the culture secretary said their proposed 11.7 billion pounds takeover of Sky should face a further six-month inquiry. bit.ly/2fh6OI5 - Air Berlin has been forced to cancel about 100 flights after an "unusually high number" of pilots called in sick, in what is believed to be a wildcat strike against possible redundancies at the bankrupt airline. bit.ly/2fg5Uf1 The Telegraph - Bell Pottinger Pvt has succumbed to the scandal of a divisive campaign it ran for controversial billionaire family the Guptas in South Africa and filed for administration. bit.ly/2gYwWLA - The Competition and Markets Authority has cleared the way for an oil-services mega-merger after agreeing that Amec Foster Wheeler Plc's plan to sell off its North Sea business would be enough to assuage its concerns over the John Wood Group takeover. bit.ly/2h1t8cq Sky News - The fourth round of Brexit talks has been delayed by a week to Sept. 25. A spokesperson said "both sides" had agreed to push back the date to give negotiators "flexibility" to make progress at the current stage. bit.ly/2xXImm0 -Matthias Wissmann, head of the German Automotive Association, said contingency plans were being formed to deal with a possible failure of Brexit negotiations in the next 18 months. bit.ly/2xY4EnA The Independent - Hope Hicks has officially become the third person to hold the title of communications director in United State President Donald Trump's White House. ind.pn/2xXL3nC - Theresa May has asked Donald Trump to help settle a trade dispute over Bombardier which could financially devastate one of Northern Ireland's biggest employers and put thousands of jobs at risk, following pressure from the DUP. ind.pn/2xYebLf    

12 сентября, 22:50

12 times Clinton dishes out payback in her tell-all book

Hillary Clinton promised an unvarnished take on the 2016 presidential election in her new book, “What Happened.” When it comes to her political foes and frenemies, she delivered.The vanquished Democratic nominee offers unsparing take-downs of both Republicans and Democrats who she believed treated her unfairly, while also going after media personalities and foreign figures.Below are some of the most stark examples of Clinton dishing out political payback in the book, released on Tuesday.1. James ComeyClinton heaped blame on former FBI Director James Comey, especially for his late October letter essentially reopening the investigation into her use of a private email server at the State Department.In her book, Clinton wrote that Comey had departed from “long-standing Justice Department policy” with his unusually public airing of the FBI’s investigation. In the days and weeks following her election loss, the former secretary of state wrote that she tried to put the campaign out of her mind, in part because “it wasn’t healthy or productive to dwell on the ways I felt I’d been shivved by then-FBI Director Jim Comey—three times over the final five months of the campaign.”“I can’t know what was in Comey’s head. I don’t know if he had anything against me personally, or if he thought I was going to win the election and worried that if he didn’t speak out he’d later be attacked by Republicans or his own agents. What I do know, though, is that when you’re the head of an agency as important as the FBI, you have to care a lot more about how things really are than how they look, and you have to be willing to take the heat that goes along with the big job.”2. Bernie SandersClinton offered some praise for her chief 2016 primary rival, crediting Sanders with generating political interest in young people and calling him a “disciplined and effective politician.” But she also said campaigning against him was “profoundly frustrating” because “He didn’t seem to mind if his math didn’t add up or if his plans had no prayer of passing Congress and becoming law.”Clinton also blamed Sanders for laying the groundwork for some of Trump’s general election attacks by painting her as too cozy with Wall Street and other moneyed interests. Sanders resorted to those barbs despite a previous pledge to avoid personal attacks, Clinton said, because the two were too closely aligned on many key policy issues.“Nonetheless, his attacks caused lasting damage, making it harder to unify progressives in the general election and paving the way for Trump’s ‘Crooked Hillary’ campaign. I don’t know if that bothered Bernie or not. He certainly shared my horror at the thought of Donald Trump becoming President, and I appreciated that he campaigned for me in the general election. But he isn’t a Democrat—that’s not a smear, that’s what he says. He didn’t get into the race to make sure a Democrat won the White House, he got in to disrupt the Democratic Party.”3. Donald TrumpClinton airs her grievances against Trump throughout the book, including her personal distaste for the reality TV star whose wedding she attended in 2005. In one particular passage, Clinton recalls her town hall-style debate against Trump, in which the president loomed behind her as she answered questions. She said her “skin crawled” because Trump was “literally breathing down my neck.”Clinton said that although she chose not to make an issue of Trump invading her personal space, she considered looking “him in the eye and say loudly and clearly, ‘back up you creep, get away from me. I know you love to intimidate women but you can’t intimidate me, so back up.’”“I chose option A. I kept my cool, aided by a lifetime of dealing with difficult men trying to throw me off. I did, however, grip the microphone extra hard. I wonder, though, whether I should have chosen option B. It certainly would have been better TV. Maybe I have overlearned the lesson of staying calm, biting my tongue, digging my fingernails into a clenched fist, smiling all the while, determined to present a composed face to the world.” 4. Joe BidenClinton expressed her frustration with Biden, who considered and ultimately decided against mounting his own presidential bid in 2016, over his post-election critiques. The former vice president instead served as a high-profile surrogate for Clinton, headlining rallies with his trademark folksy, blue-collar style in the leadup to Election Day.But after Clinton’s loss, Biden grew more critical of the former secretary of state and of the message Democrats conveyed, especially in white, working class areas that have traditionally voted Democratic but instead supported Trump last November.“Another easy explanation that doesn’t stand up to scrutiny is that I lost because I didn’t have an economic message. Joe Biden said the Democratic Party in 2016 ‘did not talk about what it always stood for—and that was how to maintain a burgeoning middle class.’ He said, ‘You didn’t hear a single solitary sentence in the last campaign about that guy working on the assembly line making sixty thousand bucks a year and a wife making $32,000 as a hostess in a restaurant.’ I find this fairly remarkable, considering that Joe himself campaigned for me all over the Midwest and talked plenty about the middle class.”5. Vladimir Putin While Trump has waffled about whether Russia meddled in the election, it is clear from Clinton’s book that there is no doubt in her mind. She lays blame directly at Putin’s feet, writing that “in 2016 our democracy was assaulted by a foreign adversary determined to mislead our people, enflame our divisions, and throw an election to its preferred candidate.” “What would I have done? There’s nothing I was looking forward to more than showing Putin that his efforts to influence our election and install a friendly puppet had failed. Our first face-to-face meeting would really have been something. I know he must be enjoying everything that’s happened instead. But he hasn’t had the last laugh yet.” 6. Chuck Todd Clinton’s beef with the moderator of NBC’s “Meet the Press” stemmed from a criticism Todd shared of her performance during the first general election debate, held in late September at Hofstra University. Todd was one of multiple media personalities and outlets targeted by the former secretary of state. “Later, Chuck Todd of NBC’s Meet the Press actually criticized me for being too prepared. I’m not sure how that’s possible—can you be too prepared for something so important? Does Chuck ever show up for Meet the Press and just wing it?” 7. Mitch McConnell Clinton’s chief complaint about the Senate majority leader stems from his handling of intelligence information related to Russia’s campaign to interfere in last year’s election. In her book, Clinton alleges that McConnell warned the Obama administration during last year’s election that any effort to inform the public that the Russian government was behind a wave of cyberattacks on Democratic targets would be met with accusations of “playing politics” from Republicans. “We know now that even after he was fully briefed by the CIA, McConnell rejected the intelligence and warned the Obama administration that if it made any attempt to inform the public, he would attack it for playing politics. I can’t think of a more shameful example of a national leader so blatantly putting partisanship over national security. McConnell knew better, but he did it anyway.” 8. Michael Flynn Clinton goes after Flynn, Trump’s short-lived former national security adviser, only briefly, but she does so with gusto. Flynn resigned from the White House amid media reports that he had misled Vice President Mike Pence and others about the nature his conversations with Russia’s ambassador to the U.S. The irony of Flynn — who delighted in “lock her up” chants at Trump rallies and once declared on “Meet the Press” that those who receive immunity from prosecutors in exchange for information “probably committed a crime” — later requesting immunity in exchange for his testimony, did not go unnoticed by Clinton. “There’s a certain poetic justice now in remembering how enthusiastic Michael Flynn was about sending me to jail.” 9. Jill Stein The Green Party’s 2016 presidential nominee “wouldn’t be worth mentioning” in Clinton’s book, the former secretary of state wrote, except that her vote totals in Michigan, Pennsylvania and Wisconsin all exceeded the margin by which Trump won all three states. Clinton also panned Stein for her relative warmth towards Russia, characterizing her as in line with Trump on the issue. “A small but still significant number of left-wing voters may well have thrown the election to Trump. Jill Stein, the Green Party candidate, called me and my policies ‘much scarier than Donald Trump’ and praised his pro-Russia stance. This isn’t surprising, considering that Stein sat with Putin and Michael Flynn at the infamous Moscow dinner in 2015 celebrating the Kremlin’s propaganda network RT, and later said she and Putin agreed ‘on many issues’… “in each state, there were more than enough Stein voters to swing the result, just like Ralph Nader did in Florida and New Hampshire in 2000. Maybe, like actress Susan Sarandon, Stein thinks electing Trump will hasten ‘the revolution.’ Who knows?” 10. Julian Assange Assange’s WikiLeaks website, and others like it, were the public vehicle by which emails hacked from the Democratic National Committee, Clinton campaign chairman John Podesta and others made their way into the public. Although unrelated to the FBI’s investigation into her homebrew email server, the constant trickle of leaked emails made it hard for Clinton to distance herself from the scandal and kept the word “emails” at the front of voters’ minds, she said. Assange has denied that the source of the emails released on his website was the Russian government, an assertion that Clinton does not accept in her book. “In my view, Assange is a hypocrite who deserves to be held accountable for his actions. He claims to be a champion of transparency, but for many years, he’s been helpful to Putin, one of the most repressive and least transparent autocrats in the world. It’s not just that WikiLeaks avoids publishing anything Putin won’t like and instead targets Russia’s adversaries—Assange actually hosted a television show on RT, Putin’s propaganda network, and receives adoring coverage there.” 11. Matt Lauer Clinton devoted several pages in her book to Lauer’s performance hosting NBC’s “Commander in Chief forum,” a conversation with both general election candidates held aboard the USS Intrepid. Lauer questioned Clinton at length about her the email scandal, as did audience questioners. She said NBC had treated the forum as “an episode of The Apprentice, in which Trump stars and ratings soar.” Lauer, the host of NBC’s “Today” show, “had turned what should have been a serious discussion into a pointless ambush. What a waste of time.” “Trump should have reported [Lauer’s] performance as an in-kind contribution. Later, there were rumors ginned up by fake news reports that I was so mad at him I stormed off stage, threw a tantrum, and shattered a water glass. While I didn’t do any of that, I can’t say I didn’t fantasize about shaking some sense into Lauer while I was out there… Later, I watched Lauer soft-pedal Trump’s interview.” 12. Fox News, Rupert Murdoch and Roger Ailes While Clinton blames the Russian government for its interference campaign, she said conservative media outlets – namely Fox News and its longtime leaders Rupert Murdoch and Roger Ailes – are responsible for laying the groundwork for the Kremlin’s success. “Rupert Murdoch and the late Roger Ailes probably did more than anyone else to make all this possible. For years, Fox News has been the most powerful and prominent platform for the right-wing war on truth. Ailes, a former advisor to Richard Nixon, built Fox by demonizing and delegitimizing mainstream media that tried to adhere to traditional standards of objectivity and accuracy.”

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12 сентября, 22:22

The Guardian view on the Sky takeover bid: good for Karen Bradley | Editorial

At last a Conservative culture secretary who dares to stand up to Rupert Murdoch. Now it is up to the competition watchdog to prove its worthCongratulations Karen Bradley! The secretary of state for culture, media and sport has become the first Conservative in office since John Major to stand up to Rupert Murdoch in his quest to expand his global media empire. Mrs Bradley had been considering the bid by 21st Century Fox, effectively controlled by the Murdoch family, to buy the remaining 61% of Sky, the pan-European broadcaster and internet services provider, that it does not already own. She had been minded to refer the bid on the grounds of media plurality to the competition watchdog – the Competition and Markets Authority (CMA) – on the advice of the broadcasting regulator Ofcom, the prospect of which would hardly cause Mr Murdoch much lost sleep, since his companies relish scrapping with dominant web giants like Google. When it came to broadcasting standards, Ofcom dismissed concerns over the Murdochs’ commitment to the taste and truthfulness of his companies’ output. Yet the culture secretary disagreed, saying “non-fanciful concerns” about the Murdochs’ commitment to standards meant she would have to refer the deal to the competition regulator on these grounds, too. This opens up a new front against Mr Murdoch, who has expressed a wish to make Sky News – an impartial broadcaster – more like Fox News, a highly partisan rightwing US outlet accused of peddling conspiracy theories and fake news. The “Foxification” of Murdoch’s UK news station is something, the culture secretary correctly points out, that should be investigated. What is remarkable is that Mrs Bradley has done the right thing by looking at the questions of character, culture and criminality that the rest of the world fixates on when dealing with the Murdochs. Ofcom, on the other hand, has questions to answer about its apparent naivety in dealing with the takeover. When Ofcom discovered that Fox News had no code of compliance despite broadcasting in this country, it allowed Fox to produce one and abide by it. Just a day after Fox News put in a place its code, it ran a false story, politically significant in the US, besmirching the reputation of a murdered Democratic National Committee official, saying he had been a traitor. The story was retracted a week later, but four months on, no action has been taken against those responsible. There has been no apology to the dead man’s family, who publicly explained that claims of treason had added to their grief. In August Fox News, acting CEO Rupert Murdoch, was taken off air in Britain. If actions can be interpreted as an admission of wrongdoing, then Fox News is guilty. But so is Ofcom. The regulator failed first to police Fox News and then to recognise that the legal threshold for referring the bid on grounds of broadcasting standards was low, and easily met in the case of the Murdochs. That was a mistake by Ofcom – and one the culture secretary could not repeat. Continue reading...

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12 сентября, 21:46

Murdochs' Sky bid isn't the slam dunk it looked a month ago | Nils Pratley

21st Century Fox could be facing a lengthy wait with the Competition and Markets Authority wading into unfamiliar watersThe Murdochs, as the Labour MP Tom Watson gleefully noted, will be furious. In a one-dimensional fight at the Competition and Markets Authority over media plurality, the Murdoch clan would start as heavy favourites to get 21st Century Fox’s bid for full control of Sky over the line. That is because the BBC and ITN, on most measures of audience reach, would still be bigger.An additional referral on grounds of broadcasting standards – which is what the culture secretary, Karen Bradley, now proposes – is a very different matter. The CMA wonks will be wading into unfamiliar waters. They will have to pull apart boardroom culture at Fox and consider the scope for the “Foxification” of Sky News – meaning the danger that the channel is turned into one that pumps out partisan drivel. It’s hard to know which way the technocrats will jump when their usual spreadsheets offer no help. The plot has taken an unexpected turn. Continue reading...

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12 сентября, 16:52

UK cites Fox News as hurdle to Rupert Murdoch’s Sky deal

Culture secretary likely to refer bid on grounds of media plurality and broadcasting standards

12 сентября, 16:23

Renewed hike hopes lift pound to one-year high against dollar as rising inflation tightens the squeeze on UK households 

UK inflation rises to 2.9pc in August; higher than expected and a jump from July's 2.6pc rate  Pound rallies on currency markets as interest rate hike hopes are renewed by the pick-up in inflation Pound at highest level against the dollar in a year; trading 0.7pc higher at $1.3267 FTSE 100 retreats, hurt by the stronger pound; rental firm Ashtead leads the blue-chip leaderboard after saying that it expects a pick-up in demand in the aftermath of Hurricane Irma Housebuilders drop as Redrow boss sells stake in the company, stoking fears that the sector has already peaked UK inflation jumped to 2.9pc in August, the ONS revealed this morning, tightening the squeeze on households already suffering from the gap between rising prices and sluggish wage growth. With inflation well above the Bank of England's 2pc target, the pound soared on currency markets as hopes of an interest rate hike before the end of the year were revived by the figures. The Bank of England will decide on Thursday whether to raise rates in order to curb inflation with today's higher-than-expected pick-up cranking up the pressure on the central bank's policymakers. The ONS said that the fastest rise in clothing and shoe prices in 30 years bumped up the figures but that food inflation slowed, lowering the pressure on the weekly shop. 5:53PM Markets wrap: Inflation pick-up sends pound soaring to one-year high against dollar Today's inflation figure will crank up the pressure on Mark Carney and the Bank of England's MPC The pound has surged to his highest level against the dollar in a year after the ONS revealed that inflation jumped to 2.9pc, cranking up the pressure on Bank of England policymakers to hike interest rates to ease the squeeze on UK households. The markets are now putting the chance of a rate hike before the end of the year at close to a coin flip and the negative effect of the pound's rise on London's big exporters pulled down the FTSE 100 as stocks in the rest of Europe and the US continued to rebound. Housebuilders retreated as investors worried that the sector has reached its peak after directors at Redrow and Berkeley sold big stakes in the space of a few days while rental firm Ashtead rose to the top of the FTSE 100 as it predicted increased earnings from the aftermath of Hurricane Irma. IG market analyst Joshua Mahony said this on today's markets: "This morning’s FTSE gains proved fleeting, as a rise in UK inflation raised the prospect that the Bank of England’s monetary policy makers turn more hawkish. This drew investors into the pound to the detriment of the FTSE 100. "A sharp appreciation in inflation has put greater pressure on the BoE to provide a more hawkish outlook on Thursday, pushing the pound to a one-year high against the dollar." 4:22PM Inflation jumps to 2.9pc as prices for clothes and shoes rise at the fastest rate for 30 years CPI Price rises accelerated in August as costs for clothes, shoes, furniture and telephones all picked up pace. Inflation hit 2.9pc, the Office for National Statistics said, up from 2.6pc in the 12 months to July and the highest level since May, indicating that the fall back in price pressures in June and July may have been a blip in the upward trend. The weak pound has pushed up import prices and that has fed through into costs for shoppers, hitting households in the pocket. Read Tim Wallace's full report here 4:19PM Brent crude pushes past $54 per barrel as OPEC production falls for first time since March Brent crude has jumped 0.7pc today on the report Brent crude has pushed past $54 per barrel this afternoon after fresh data from OPEC showed a fall in production for the first time since March. The oil cartel's output fell by 79,100 in July as it tries to rebalance the market and  reduce the glut of oil stocks weighing on prices. OPEC also forecast higher oil demand in 2018, indicating that a tighter market will support future prices. CMC Markets David Madden commented: "The major oil producers clearly mean business now, as at the start of the summer we saw production actually rise from some members.   "OPEC’s production freeze will last until the end of March 2018, and Saudi Arabia is floating the idea of extending the production cut until the end of June 2018."  #OPEC sees #oil market tightening: Forecasts 2018 demand for its crude will average 32.83 million bpd, up 410,000 bpd vs Aug forecast #OOTTpic.twitter.com/d9wWSKtY5R— Christopher Johnson (@chris1reuters) September 12, 2017 3:59PM Gap between inflation and public sector pay highlighted The Government announced today that the pay cap on police and prison staff had been lifted  Many on social media are highlighting the gap between the jump in inflation to 2.9pc and police officer pay rising below that figure to 2pc. Today's pay increase announcement have been described as "derisory" by the TUC and tomorrow's wage growth figures could bring the subject back into focus again. Wage growth is expected to nudge up to 2.2pc, a 0.1 percentage point increase, in tomorrow's figures, lagging far behind inflation. Probably not your strongest timing Phil. So inflation is 2.9%. Police and prison officers are getting a 2% pay rise. Not an expert but my calculator keeps saying it's a pay cut!— Ian Warren (@election_data) September 12, 2017 Just a little bit of housekeeping to do on the economics front in the US. JOLTS job openings inched up to a fresh record of 6170, ahead of expectations. It hasn't done much to lift the dollar today, however, sterling is still trading 0.7pc higher against the greenback. Markets in the UK have been dominated by this morning's inflation reading, according to Spreadex analyst Connor Campbell. He commented on sterling's rise: "That took the pound to some important markers; cable is now sitting pretty at above $1.326 at a one year peak, while against the euro sterling has climbed to a fresh 6 week high. "These gains had important ramifications for the rest of the markets. First and foremost it prevented the FTSE from joining in with the gains seen elsewhere, instead sending the UK index back below 7400 – if only just – with a 0.1% dip."  3:19PM Murdoch faces broadcasting standards investigation over Fox's £11.7bn takeover of Sky Rupert Murdoch and his sons James and Lachlan are making a second bid for full control of Sky The Murdoch family faces a six-month investigation of their record as broadcasters and commitment to editorial standards following a Government decision that will mean a further delay in their £11.7bn bid to take full control of Sky. The Culture Secretary Karen Bradley said that in light of new representations on 21st Century's Fox's compliance record and its handling of sexual harassment allegations at Fox News, she was minded to trigger a double investigation by the Competition and Markets Authority (CMA). A broadcasting standards investigation will run alongside a previously planned probe of the impact of the deal on the public interest in media plurality, amid fears it would grant the Murdochs too much sway over news. Read Christopher Williams' full report here 3:16PM Merger talks that led to 'Clarkson moment' between AA bosses are off Bob Mackenzie CEO of the AA at their London HQ in Covent Garden Merger talks between the AA and insurance rival Hastings, which allegedly led to a Jeremy Clarkson-style brawl between the AA's former chairman and its insurance head are now off, Hastings said Tuesday. While the roadside recovery business confirmed it had spoken to Hastings earlier in the summer about a potential tie-up with its insurance arm, Hastings said in a separate statement that those talks were now off.   That ends a process that caused such a divide between AA's ex-chairman Bob Mackenzie and insurance boss Michael Lloyd that it was allegedly the trigger for a physical fight in a hotel bar earlier this year.  Mr Mackenzie was then sacked for "gross misconduct" in a move that wiped £200m from the AA's value in one day. However his son Peter has refuted the allegations, instead insisting his father resigned due to ill health.  Read Lucy Burton's full report here 2:51PM US stocks nudge up; Apple shares rise ahead of much anticipated iPhone release Apple will unveil the next iPhone at 6pm (BST) US stocks have opened higher at the opening bell in New York, leaving the FTSE 100 the only major index retreating today. The S&P 500, which closed at a record high of 2488.11 yesterday, has continued its ascent and reached a fresh all-time intraday high. With the latest iPhone due to be unveiled at 6pm (BST), Apple shares will be one to keep an eye on this afternoon. Ahead of the much anticipated release, shares are up 0.4pc but are expected to bounce around during the presentation later on. Meanwhile in Europe, the FTSE 100 has stabilised at a 0.4pc loss for the session as the pound dominates on the currency markets but the CAC 40 and DAX are enjoying a 0.6pc jump on rising risk appetite. 2:22PM Is this the top of the market for housebuilders? Redrow share price sinks after chairman sells shares Redrow's share price has sunk more than 8pc The chairman of housebuilder Redrow has sold off part of his stake in the company he founded, spooking investors that he could be calling the top of the market, and sending its share price down more than 8pc. Steve Morgan, who last week announced that he would "ease back" from his executive role this year, sold around a fifth of his 40pc stake in the business. That represents roughly 7pc of the total share capital; he still owns more than a third of Redrow's shares.  It comes a week after the founder and chairman of Berkeley Homes, Tony Pidgley, sold 750,000 shares in the housebuilder, pocketing £26.8m. Despite this selloff he remains the fourth-largest shareholder in the housebuilder. Analysts at Jefferies said that he "still has a lot of skin in the game". Read Isabelle Fraser's full report here 2:11PM Pound only at one-month high against basket of leading currencies Against a basket of the leading global currencies, the pound only hit a one-month high Just a sniff of an interest rate hike is enough to send the pound soaring on currency markets but it's worth bearing in mind that, while sterling has reached a one-year high against the dollar, against a basket of the leading global currencies it is only at a one-month high. A weaker dollar, which has been pulled down this year by the chaos at the White House and fears that sluggish inflation in the US could slow the pace of rate rises, is equally responsible for the recent surge. 1:52PM Leonardo joins bid to provide 'private airforce' for RAF to train against Britain's Typhoon pilots could find themselves battling civilian flown aircraft in mock dogfights Defence group Leonardo has joined a consortium hoping to land a massive contract that ultimately aims to supply a “private air force” for the RAF to train against. The international company’s UK arm has joined forces with Canada’s Discovery Air Defence and Britain’s Inzpire to bid for a contract providing live air training that could be worth as much as £1.5bn. Known as Air Defence and Operational Support (ASDOT), the contract could run for up to 10 years. It is eventually expected see private companies provide “enemy” fighters flown by civilians for RAF pilots to battle in mock dogfights, as well training pilots and servicemen and women in areas such as electronic warfare such as jamming radar signals, and calling in aircraft to launch strikes on the ground targets. Read Alan Tovey's full report here 1:43PM Pound jumps to one-year high against the dollar on interest rate hike hopes The pound has jumped to its highest level against the dollar in a year The pound's surge on the currency markets following the uptick in inflation has lifted it to its highest level against the dollar in a year. The recent economic strength of the eurozone and sterling's summer drift downwards against the euro means that it's only at a one-month high against the currency, however, trading 1pc higher at €1.119. $GBP Core CPI 2.7% in August - and more is on the cards in coming years, unless BoE tightens.. We like short EUR/GBP in to year-end #BoEpic.twitter.com/RwxoOaymU5— AndreasStenoLarsen (@AndreasSteno) September 12, 2017 Lukman Otunuga, research analyst at FXTM, believes the hawks calling for an interest rate hike at the Bank of England will find new impetus from today's figures. He said: "With UK inflation rates finding comfort well above the Bank of England’s 2% target, as the Brexit-fuelled Pound weakness boosts import costs, BoE hawks may make an appearance during Thursday’s policy meeting. While rising inflation is likely to support expectations over the Bank of England raising UK interest rates, it still unclear as to when and how this will occur.   "It should be kept in mind that elevated inflation levels have pressured households this year, and this will continue to negatively impact the outlook of the economy. With wage growth still struggling to keep up with inflation, concerns are mounting over the sustainability of the UK’s consumer-driven economic growth. BoE policy makers are under fresh pressure to take action, and Wednesday’s UK labour market data, which will be in sharp focus, could act as a catalyst for an unexpected surprise this year.   "The big question is, will the jump in UK consumer prices prompt the BoE to raise rates quicker than anticipated?" 1:09PM Competition watchdog clears Amec Foster Wheeler's North Sea sell-off plans The CMA has said that Amec Foster Wheeler’s plan to sell off its North Sea business would be enough to assuage its concerns The Competition and Markets Authority has cleared the way for an oil-services mega-merger after agreeing that Amec Foster Wheeler’s plan to sell off its North Sea business would be enough to assuage its concerns over the Wood Group takeover. The CMA took only one month to review the plans together with feedback from interested parties before approving plans for Amec Foster Wheeler to sell the majority of its North Sea assets and contracts as a package, well before its decision deadline. The pair anticipated the competition concerns surrounding their £2.2bn merger and are understood to have started talks with potential buyers as early as May this year. Both private equity and strategic investors are said to be circling the assets. The takeover raised eyebrows earlier this year amid fears that the pair, which both hold a substantial stake of the North Sea’s oil services market, would be able to wield its dominance to crush market competition. Read Jillian Ambrose's full report here 12:49PM Lunchtime update: Pound soars on currency markets as inflation pick-up renews hike hopes The Bank of England's MPC will meet on Thursday to decide whether to hike rates The pound has soared on the currency markets this morning as the pick-up in inflation to 2.9pc cranked up the pressure on Bank of England policymakers to hike interest rates to ease the squeeze on households. Although the market believes a hike in 2017 is still unlikely, pricing in a 35.6pc chance of a rise before the end of the year, today's rise due to an increase in clothing and shoe prices has renewed hawkish hopes. On the stock market, the pound's rally has punctured the FTSE 100 with housebuilders the biggest losers in London this morning as fears that the sector has reached its peak were stoked by Redrow's chairman selling a stake in the company. Accendo Markets head of research Mike Van Dulken commented on this morning's action: "Equities are mixed this morning, but not for want of underlying risk appetite as recent market take a back seat. While Dow futures and Germany's DAX push further north the FTSE is the odd one out, nursing minor losses, after strong UK inflation data sent the pound higher to the detriment of its significant international exposure.  "The German DAX outperforms thanks to EUR/USD holding around yesterday's 3-day lows, helping industrials/exporters while banks embrace this week's general risk-on mentality. The UK FTSE 100 is just the wrong side of breakeven, hindered by the pound's strength." 12:37PM Gold retreats following strong rally based on geopolitical fears Gold enjoyed a strong rally last week on geopolitical fears but has retreated today Gold prices are suffering a second day of decline as risk appetite returns to normal after markets wobbled on North Korea and Hurricane Irma fears. The price has retreated back down to $1.323.99 per ounce, a 1.7pc decline this week, after rallying last week on the geopolitical fears. Precious metal miners Fresnillo and Randgold Resources, whose share prices are wedded to the price of gold, have fallen to the bottom of the FTSE 100 as a result. 12:07PM SMEs will be hit by pick-up in RPI; house price inflation steady House price inflation has nudged up to 5.1pc Although slightly lost underneath the headline CPI figure this morning, the ONS also revealed that retail price inflation increased to 3.9pc while house price inflation nudged up to 5.1pc, both ahead of expectations. With business rates linked to RPI, SMEs will face higher tax bills as a result of the pick-up. Mike Cherry, Federation of Small Businesses national chairman, said that the pick-up in retail price inflation will make business rates unaffordable. He said: "Today’s increase in inflation will add to cost pressures facing the small business community. Confirmation of this month’s RPI is another huge blow, as it will add almost four percent to every single business rates bill next year.  "It’s hard to understand why the Government insists on using this outdated measure of inflation rather than the more widely accepted CPI, which it has pledged to use from 2020. With a weakening economy, CPI-indexation should be brought forward to 2018." Adrian Moloney, sales director at OneSavings Bank commented that the housing supply shortage is supporting property prices but that buyers continue to "walk a narrow tightrope to home ownership". He added: "On the one hand, strong employment growth and historically low mortgage rates are supporting buyer demand, but on the other, stagnant wage growth is being outstripped by consumer prices, making homes less affordable. "Mortgage approval levels recovered last month, suggesting a small rebound in consumer confidence and affordability, despite the enduring economic unknowns that continue to cloud the long-term view." 11:40AM Redrow chairman stake sale stokes investor jitters Steve Morgan has slashed his stake in Redrow Redrow chairman Steve Morgan selling a significant stake in the company has pulled down the entire housebuilding sector this morning, the sale coming just days after Berekley's boss also reduced his stake. The two stake sales have caused a few jitters among investors fearing that the the housebuilding sector may have reached its peak and soon be on the decline. Taylor Wimpey's 1.9pc fall is one of the sharpest on the FTSE 100 this morning while Redrow's 8.2pc plummet makes it the biggest laggard on the mid-cap index. UBS analyst Miguel Borrega points out that numerous factors will still support growth in the sector: "We highlight the market is now supported by "(1) low interest rates; "(2) structural undersupply; "(3) supportive land market with limited competition allowing for attractive returns; "(4) Government support in the form of Help-to-Buy and planning reform." Anthony Codling, an analyst at Jefferies, commented that he did not believe that " the silverback alpha males in the sector are calling the top of the market" through their stake disposals. 11:08AM Tasty issues unappetising update with fears about consumer spending squeeze extending into next year Trading conditions have become tough in the restaurant sector with various cost pressures hitting at a time of reduced consumer confidence Tough trading conditions in the restaurant sector have prompted operator Tasty to take a multi-million pound write-down on some of its sites as it predicted the consumer spending squeeze would extend into 2018. The owner of the Wildwood and dim t chains of restaurants said the entire sector had been suffering a slowdown since the beginning of 2017 and that this was set to continue into next year. “This is not unique to the group or any particular area but appears to be a nationwide problem, particularly evident in London, and has impacted turnover and profit,” said chairman Keith Lassman. These fears appear to have spooked shareholders with the stock down nearly 11pc to 37.5p in early trading. While total sales rose nearly 12pc to £24.3m for the six months to July 2, this was entirely down to new openings. Read Bradley Gerrard's full report here 10:51AM Inflation rise reaction: what the experts say UK inflation rose to 2.9% in August, extending the decline in real wages. Only increased indebtedness keeps consumption from declining pic.twitter.com/dsmcoSPogT— Ulrik Bie (@UlrikBie) September 12, 2017 Let's have a quick round-up on what the experts are saying on today's spike in inflation. We'll begin with Howard Archer, chief economic advisor at the EY ITEM club, who believes that inflation should be close to its peak. He said: "Sterling’s past sharp drop should have now largely fed through the pricing chain. Meanwhile, ongoing slow earning growth and lacklustre economic activity should limit domestic inflationary price pressures. Additionally, oil prices remain relatively low.   "Consequently, we believe there is a strong chance that CPI will be back to 2% by the end of 2018." Nomura sticking by its out-of-consensus call for a UK rate hike in November after today's inflation comes in higher than expected.— Jamie McGeever (@ReutersJamie) September 12, 2017 Investec economist Philip Shaw commented that this rise shouldn't be enough to move MPC members on interest rates. He said: "Our feeling is still that the MPC will be reluctant to tighten policy until it sees firm evidence that pay growth is strengthening well above the prevailing pace of close to 2%. We view this to be unlikely until the economy gains a degree of traction and there is less uncertainty over the UK’s post-Brexit arrangements. "Partly on this judgement we still see the committee maintaining the current stance of policy until 2019. July’s earnings data, plus other labour market metrics, are due tomorrow and it will be interesting to see the importance the MPC places on them when the minutes to the meeting are published on Thursday." Also here's our economic correspondent Tim Wallace's full report on this morning's figures.  10:26AM Housebuilders fall on Redrow stake sale and bearish sector note Housebuilder Redrow $RDW shares take a dive after chairman's charitable trust sells out at 590p, vs yesterday's closing price of 633p pic.twitter.com/xMKQel0DHB— Ian Smith (@iankmsmith) September 12, 2017 That spike in the pound has turned a stagnant session for the FTSE 100 into a negative one with the index now 0.2pc lower. Housebuilders are taking the biggest beating in London this morning with Redrow diving over 8pc after its chairman Steve Morgan sold a huge stake in the FTSE 250 company. The share placing and a bearish note on the sector from Bank of America Merrill Lynch hinting that housebuilders might have hit their peak already has pulled pulled down the FTSE 100 housebuilders with Taylor Wimpey, Barratt Developments and Persimmon all retreating just under 2pc. IG chief market analyst Chris Beauchamp said on the housebuilders' fall this morning: "Despite further evidence of UK house price growth, housebuilder shares have taken a knock  this morning as the chairman of Redrow takes the opportunity to offload some of his stake, in the wake of a bounce in the shares last week. "Given the near 50% appreciation in the shares from January until the end of last week, it doesn’t seem like a sign that the top is near, and in all likelihood there will be plenty of buyers keen to snap up some shares at a cheaper price than seen of late." 10:06AM Inflation rise reaction: Sterling depreciation will fall out of the year-on-year calculation soon ����#UK CPI #inflation was 2.9% in August => real wage squeze => sluggish #GDP growth pic.twitter.com/p4IxzmT44W— Danske Bank Research (@Danske_Research) September 12, 2017 CABLE doing a runner here on UK inflation data on read to Thurs #BoE mtg as both CPI & PPI above expects, GBPUSD last 1.3266 #CABLE#GBPUSDpic.twitter.com/6TZo4jOW1q— stephen garrett (@sgarret13) September 12, 2017 Today's inflation pick-up is slightly higher than the Bank of England's own 2.7pc estimate and way ahead of the central bank's 2pc target but Ben Brettell, senior economist at Hargreaves Lansdown, believes that that 2.9pc could be inflation's peak as sterling's weakness soon falls out of the year-on-year calculation. Mr Brettell added that the long-term inflationary pressures are still absent: "Beyond the currency effect there appear to be few underlying inflationary pressures. Labour costs are the main factor in domestic inflation, and growth here remains below long-term averages. Productivity growth is sluggish, and technological changes look to be suppressing wages, with the likes of Uber, Amazon and Netflix disrupting traditional industries.   "Furthermore we need to consider demographics. The baby boomers are retiring in their droves. They have already gone through their consumption phase – they have bought their houses, cars and consumer goods. The generation behind them is saddled with debt and struggling to get on the housing ladder.   "All in all I see more deflationary forces than inflationary in the world economy at present." 9:46AM Inflation key takeaways  Contributions to the CPIH 12-month rate   Inflation rose to 2.9pc in August, up from 2.6pc the previous month and higher than the expected 2.8pc increase. Rising prices for clothing and motor fuel were the main contributors to the pick-up. Air fares rose between July and August but the smaller rise compared to last year weighed on inflation. Renewed hike hopes push pound up to $1.3250 against the dollar, a 0.5pc advance, and €1.1077 against the euro, a 0.6pc gain. 9:33AM UK inflation picks up to 2.9pc, higher than expected Bank of England governor Mark Carney UK inflation rose to 2.9pc in August, figures just released by the ONS have revealed, up from 2.6pc the previous month and higher than the expected 2.8pc pick-up.  The increase lifting hawkish hopes of a rate rise has pushed the pound up on currency markets. It's now trading 0.5pc higher against the dollar at $1.3237. 9:18AM UK inflation preview: what the experts say RBC on UK inflation: Look for 2.8% Y/Y as a reflection of GBP depreciation. Exp. CPI to peak at 3.1% in October before pulling back in 2018— RANsquawk (@RANsquawk) September 12, 2017 Let's have a quick round-up of what analysts are saying before this morning's figures. CMC Markets analyst Michael Hewson describes last year's emergency change in monetary policy after the EU referendum as a "self-inflicted wound". He added: "There is a risk that we could see an uptick in the August CPI numbers to 2.8%, largely as a result of last year’s decision by the Bank of England to cut rates to 0.25%, and embark on further QE, which prompted further sterling weakness into the back end of 2016, a self-inflicted wound if ever there was one.   "An increase in petrol prices at the pump could prompt a slight uptick in the monthly number to 0.6% from 0.2%, but it still seems likely that we’ve seen the highs in inflationary pressure this year, barring a surprise. The steady decline in input prices since the beginning of the year, from 20% in January to 6.5% in July also suggests inflationary pressure is on the decline, though we could also see a bit of an August uptick here too with expectations of an increase to 7.3%." Spreadex analyst Connor Campbell points out that the MPC were unmoved when inflation peaked in May: "How much of a boost the currency could get from such a reading is perhaps up for debate. The Bank of England was reluctant to hike rates at that aforementioned May high, and it’s unlikely they’ll be moved by anything lower. "However, it would still be a move in the right direction, helping to explain why the pound is up 0.3% against the dollar and 0.2% against the euro."  9:09AM UK inflation preview: weaker-than-expected figure would hurt the pound  6. And... 1) UK inflation not wildly different to peers 2) Energy contributions are global & overlooked 3) Core is still the one to watch pic.twitter.com/SS4cpHi5t9— Rupert Seggins (@Rupert_Seggins) September 12, 2017 Weaker-than-expected inflation and patchy growth indicators for the UK economy have somewhat punctured hawkish hopes of an interest rate rise over the summer but could that impetus be revived today? With only three MPC meetings before the end of the year, the markets have put the chance of a rise in 2017 at just 28pc. A third consecutive month of weaker-than-expected figures hurting hike hopes would pull down the pound even if it does point to a healthier economy, according to Lee Hardman, currency analyst at MUFG. He said "So far this year, the pound has tended to strengthen following stronger than expected UK inflation reports and vice versa which have driven expectations for BoE monetary tightening. "While weaker than expected inflation would also be more favourable for the UK growth outlook, the market has not been willing to reward the pound in that manner." 9:01AM UK inflation preview: CPI expected to rise to 2.8pc; figures have been softer than expected over the summer 3. Oil price inflation suggests that there's still another month or two left of relief from UK transport & energy price inflation. pic.twitter.com/NhbbfMIgRC— Rupert Seggins (@Rupert_Seggins) September 12, 2017 Will the squeeze on households continue to ease or will inflation pick-up where it left off before the summer?  Economists are expecting today's inflation data to show a rise back up to 2.8pc but recent figures have been unexpectedly soft.  The Bank of England is currently forecasting inflation to peak at 3pc later this year but that surprise slowdown to 2.6pc in June and July has dampened the clamour for a rate rise. Only two members of the current line-up on the central bank's Monetary Policy Committee have voted for a hike, external members Ian McCafferty and Michael Saunders, but BoE chief economist Andy Haldane did admit earlier in the summer that he favoured a rate rise at some point this year. New MPC member and BoE deputy governor Sir David Ramsden's voting intentions are unknown but it is thought he won't rock the boat early on. 8:27AM Agenda: Pound shows no pre-match nerves ahead of key inflation data Mark Carney and the MPC have voted against hiking interest rates to curb high inflation The squeeze on UK households is expected to get a little tighter this morning when the latest inflation figures from the ONS drop. Economists believe UK CPI in August picked-up to 2.8pc after cooling off for the previous two months, mainly due to temporary factors. The latest RPI and PPI figures also due at 9.30am kick off this week's trio of key macro releases with wage growth data and the Bank of England's 'Super Thursday' scheduled in the coming days. Ahead of the data, the pound is showing no nerves on the currency markets, jumping higher against the dollar to flirt with the $1.32 mark. Asia stock mkts hit 10y highs on Irma and N Korea relief led by exportes & tech. Dollar rises on higher US yields, yuan hampered by Beijing pic.twitter.com/KXDX4j6rdl— Holger Zschaepitz (@Schuldensuehner) September 12, 2017 Equipment rental firm Ashtead has climbed to the top of a stagnant FTSE 100 early on with the blue-chip silent giant saying in its interims this morning that it expects demand for its services to pick-up in the clean-up efforts following the two hurricanes in the US and Caribbean. Meanwhile on the FTSE 250, JD Sports has surged over 9pc after reporting record first half profit. The "athleisurewear" store now expects full-year figures to be at the upper end of market expectations. Interim results: JD Sports Fashion, TyraTech, SafeCharge International Group Limited, ADES International Holding, Hydrogen Group, Flowtech Fluidpower, Midwich Group, Tasty, Hilton Food Group, STM Group, Servelec Group, IQE, Goals Soccer Centres, Manx Telecom, TP Group, Smart Metering Systems, Ashtead Group Full-year results: Murgitroyd Group, InnovaDerma, Vernalis AGM: EF Realisation Company, Limitless Earth, Aew UK Reit, Supergroup, Liontrust Asset Management, Daejan Holdings, Mulberry Group, Bushveld Minerals, Oxford Instruments, Van Elle Holdings, Ashtead Group, Emmerson Economics: CPI y/y (UK), HPI y/y (UK), RPI y/y (UK), PPI Input m/m (UK), NFIB Small Business Index (US), Federal Budget Balance (US)

12 сентября, 16:04

Fox News fears could kill Rupert Murdoch's $15 billion Sky deal

Britain is putting Rupert Murdoch's dream takeover on hold because of concerns over broadcasting standards at Fox News.