Business

THE NEWS WRAP: Evidence emerges that News of the World phone hacking was “widely discussed” internally

Emma Krieger /

Phone hacking at the News of the World was “widely discussed”, a letter from a former reporter claims, in revelations that are set to further damage parent company News Corporation.

 

A letter written by Clive Goodman, the former royal reporter who was jailed over phone hacking, said the practice was carried out with “the full knowledge and support” of other senior journalists, who he names.

 

The revelations follow reports that James Murdoch, CEO of News’ UK operations, is set to be recalled by a Parliamentary committee and the admission by News Corp that four separate lawsuits were filed by shareholders in the wake of the phone hacking claims.

 

Qantas to cut 1,000 jobs

 

Qantas has come under attack from unions after announcing that it is to slash 1,000 jobs and make further forays into Asian markets.

 

The airline spent an estimated $2 million on ads yesterday to pre-empt bad publicity over the move, which will see 1,000 people at its international operation depart. A new Jetstar service in Japan will launch, as well as another low-cost Asian airline that won’t carry Qantas’ brand.

 

Sage eyes MYOB

 

MYOB, an accountancy software brand that is widely used by small businesses, has become an acquisition target for UK firm Sage.

 

Software maker Sage said that it was looking to snap up MYOB, but that there was “no certainty” that the deal would proceed. MYOB is on the market for $1 billion.

 

Overnight

 

The Dow Jones Industrial Average was down 76.89 points to 11,406.01. The Australian dollar was down slightly to 104.50 US cents

 

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