And in the real world... M&S, Co-op, News International and more

LONDON - Today's round-up of the biggest business stories.

And in the real world... M&S, Co-op, News International and more
And in the real world... M&S, Co-op, News International and more

The Guardian has revealed that Rupert Murcdoch’s News Group Newspapers has had to pay out more than £1 million in legal settlements to stifle the revelation of criminal methods used by its journalists. Source: The Guardian

Chancellor Alistair Darling has rejected calls to scrap the financial tripartite system, opting instead to bolster the FSA’s role as City regulator giving the body enforcement measures. Source: The Times

News Corp's Rupert Murdoch has voiced his concerns over the long term financial viability of Twitter at the media and technology gathering in Sun Valley Idaho. Source: The Financial Times

The Co-operative group has announced that it is venturing into the package holiday market. The group is tying up with travel operators such as Cosmos Holidays and Monarch to offer holiday packages for the 2010 season across 22 global destinations. Source: The Financial Times

Two of the biggest European energy suppliers, E.ON and Gaz de France Suez, have been fined nearly £1 billion for colluding over the gas market.  The companies had agreed not to compete with each other in their respective national gas markets, attracting a fine of £478million each. Source: The Daily Telegraph

Nationwide has revived the 125 per cent mortgage. enabling people to borrow up to 125 per cent of a property's value.
The scheme is on offer to homeowners who are keen to move but are trapped in negative equity. Source: The Guardian

Sir Stuart Rose, the executive chairman of Marks & Spencer, has come under pressure from shareholders at its annual meeting with 42 per cent voting in favour of him standing down as chairman.  A further 23 per cent did not support his re-election as director of the company. Source: The Guardian