And in the real world... Virgin Media, Setanta, Nationwide and more

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

World news... round-up
World news... round-up

Virgin Media and Universal Music have joined forces to tackle online piracy by launching an unlimited music download subscription service.  Source: Financial Times

The Premier League has issued a tender for the broadcast rights to its 46 football matches, increasing pressure on Setanta Sports, which has until Friday to pay the remaining £10 million payment or lose the contract and face administration.  Source: Financial Times

Nationwide’s chief executive, Graham Beale, was paid £1.5 million, including a £750,000 bonus, last year as the building society’s profits fell.  Source: The Guardian

Ripplewood, the private equity group, is considering a bid for General Motors Europe if the Canadian company Magna International drops out.  Source: The Times

Global markets tumbled yesterday as Dominique Strauss-Kahn, the managing director of the International Monetary Fund, said the recession was set to get worse.  Source: The Telegraph

Punch Taverns, the pub company, has raised £375 million to deal with its short-term debt. The company has £4.5 billion of debt.  Source: The Times