'Progress' in BA talks

'Progress' in BA talks

Talks aimed at averting next week's strike by British Airways cabin crew have continued with signs that some progress had been made.

The airline's chief executive, Willie Walsh, led the company's negotiators in secret meetings with officials from the Transport and General Workers Union including its general secretary Tony Woodley.

The talks lasted several hours and are set to continue throughout the weekend in the search for a last-ditch deal which would halt the planned walkout by thousands of stewards and stewardesses on Tuesday and Wednesday.

Murdoch buys back News Corp shares

Murdoch buys back News Corp shares
News Corp is planning a $11 billion deal to buy back US media giant John Malone's 16.3% stake in the company.

The deal also includes Malone's Liberty Media taking News Corp's stake in the US satellite broadcaster DirecTV, three regional sports networks and $550 million of cash.

Though the buyback still needs the approval of the other shareholders, it will strengthen Murdoch and his family's 30% stake in the company. If approved the deal is expected to be completed in the second half of 2007.

When Malone took 19% of News Corp voting shares three years ago, the company moved to prevent him building his stake any further.

It is thought Murdoch eventually wishes to hand the running of News Corp to one of his sons, most likely James Murdoch, who is currently chief executive of BSkyB, which is 39% owned by News Corp.