And in the real world... YouTube, BP, BMW and more

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

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

Lord Mandelson's plans to disconnect internet users who download music and films illegally have been lambasted by Britain's biggest internet providers. BT's Ian Livingston, Carphone Warehouse's Charles Dunstone and Tom Alexander from Orange claimed that blameless customers would suffer under the proposals in a letter to The Times today. Source: The Times

A giant oilfield in the Gulf of Mexico has been discovered by BP, marking one of the biggest oil discoveries in recent years. The field, known as the Tiber Field, is located 50 miles south east of Houston and was discovered by drilling more than 9.4km below the seabed. Source: The Financial Times

BMW has announced plans to begin construction of two new models of the Mini at its plant near oxford, spurring renewed confidence in the UK manufacturing industry. The cars, a mini coupe and a second undisclosed model, will be unveiled at the Frankfurt motor show later this month. Their production will lead to the creation of new jobs and further investment in the Oxford-based manufacturing plant. Source: The Financial Times

DSG, the retail company that owns Dixons, PC World and Currys, has remained positive about its forecasts despite posting a 6 per cent like for like sales fall for the 16 weeks to August 22.  The results bucked city expectations, with analysts predicting an 8-11 per cent decline for the period. Source: The Guardian

YouTube has finalised a licensing deal with the PRS for Music, the body that collects royalties on behalf of songwriters, ending a 9-month wrangle over the hosting of music videos. The parties have now come to an agreement, which will run to 2012, over the size of royalties to be paid for every video viewed, signalling the return of music videos to the site. Source: The Daily Telegraph

 

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