- Matthew West
- Rebecca Marston
Last updated 28 July 2014Share
06:00Rebecca Marston, Business reporter, BBC News
Monday morning. Here we are. Fracking is under the spotlight as companies start to bid for licences to drill for shale gas. Stay with us for the pick of the business news from the BBC and elsewhere.
06:03 FRACKING LICENCESRadio 5 live
Energy companies are being invited to bid for licences to extract oil and gas from large areas of Britain, using the controversial process known as fracking. The technique will be all but banned from national parks and other environmentally sensitive areas. Mike Bradshaw, professor of Global Energy at Warwick Business School, tells Radio 5 live people are concerned: "We've got very limited experience of fracking in the UK. So we don't know the answer to many of the questions that people have about what fracking will look like under UK and EU regulations which are very different from those that exist in the United States."
06:09 FRACKING LICENCESBBC World News
Brenda Kelly from IG Index is reviewing the newspapers on World News. "It is interesting to compare the Guardian's coverage with the Telegraph. The Guardian says there will be drilling but the Telegraph says it won't. There are a huge amount of environmental issues - the amount of water used, the risk of small earthquakes, for example. All energy firms will have to provide an environmental statement if they are going to drill near sites of natural beauty."
06:23 ARGENTINA DEBTRadio 5 live
It is more than 10 years since Argentina announced it couldn't pay back its debts. Most bondholders accepted a deal to get back a small percentage in exchange for writing off those debt. But some bonds are owned by US hedge funds who want full repayment. Argentina says no, but there's a court deadline on Wednesday. Deborah Zandstra, a specialist in debt restructuring at Clifford Chance, tells Wake Up to Money the move will have wider repercussions: "Essentially Argentina is being put into a position of defaulting on its bonds. That will trigger cross defaults on its other debts."
06:32 ARGENTINA DEBTBBC Radio 4
More on Argentina's debt woes. It is risking falling into default for the second time in 12 years, says Carlos Caicedo, senior principal analyst on country risk at IHS Global Insight. In fact, this looks like the most likely outcome after the Argentine economic minister failed to arrive in New York for talks on Friday. Leading Hedge Fund NML Capital believes Argentina will definitely default on its loans, he adds, and the government's refusal to meet and talk with its creditors isn't helping matters.
06:40 GSK BREAK-UP?
The Financial Times goes with the boss of drugs giant GSK is considering breaking up the company, should its consumer healthcare division be worth more as a standalone company. And yes, that division owns Horlicks, as well as mega-brands like Aquafresh and Corsodyl.
06:49 FRACKING LICENCESRadio 5 live
Fracking will not necessarily lead to lower energy prices, David Hunter from Schneider Electric tells Wake Up to Money. It is important that the UK assess the potential of fracking, especially given Europe's currently fractious [a-hem] relationship with Russia. It's more about energy security than lower prices, Mr Hunter says.
07:02 RYANAIR TRADING
Irish airline Ryanair reports better than expected first quarter earnings. Pre-tax profits rose to 223.6m euros (I£176.8m) in the three months to 30 June up from 88.5m euros a year earlier. Full-year profit guidance is up, too, to between 620m euros and 650m euros for the full year.
07:13 OVERPRICED HEALTHCARERadio 5 live
Private healthcare is overpriced, says ... private healthcare provider Bupa. Damien Marmion, its managing director of UK Insurance. He says the whole industry is to blame, especially the price charged by hospitals. He says prices need to go down by about 15%.