25 July 2014
Robert Peston explains why he had "the time of his journalistic life" during the UK's economic crisis.
The bidding process for licences to extract shale gas - using the controversial process fracking - will begin later on Monday, the government announces.
Profit warnings from UK companies have hit a three-year high despite the continuing recovery in the wider economy, a report finds.
Budget airline Ryanair has raised its annual profit forecast after seeing a sharp rise in earnings for the three months to June.
Councils should show where they are spending the money they raise on parking fees as motorists see higher charges, says the RAC.
25 July 2014
BSkyB move to create a pan-European giant could be part of a bigger project
More from Mr Hancoc, who tells the Today programme that "of course" there is some local opposition to fracking but the public in general understands the need for energy security and largely agrees with fracking. He couldn't name a local community pleased about the prospect of fracking, but points out there is a £100,000 grant for local communities and says they will benefit from the proceeds of fracking as well.
More from Reuters on compensation for Yukos shareholders. There's another case going on in the European Court of Human Rights (ECHR) in Strasbourg on behalf of all Yukos shareholders. That is expected to announce its decision on Thursday. They're claiming Yukos was unlawfully deprived of its possessions by the imposition of bogus taxes and a sham auction of its main asset.
Mothercare shares have fallen sharply - 11% - after the company released a statement saying it had had no contact with potential US bidder Destination Maternity since early June. It said firmly it wants an independent future. Shareholders can't be said to be universally delighted about that prospect.
European markets have started the day steadily enough. There was some positive data from China with industrial profits growing at a stronger pace in the first half of 2014 than a year earlier. The biggest rise on the FTSE 100 so far is Reckitt Benckiser - up nearly 3% to 5220p - following its positive trading update.
Energy minister Matthew Hancock tells the Today programme there is "potentially" quite a bit of shale gas under the ground. That would be good news for our energy security, he adds. Areas need to be explored to see if there is shale gas in the ground first. Companies currently exploring for shale gas will then automatically be allowed to exploit it.
Ryanair shares have jumped 5% in the wake of its statement earlier this morning, predicting higher profits.
Asian stock markets are hovering near three-year highs, with China taking the lead after data showed a robust rise in profits earned by industrial firms. Japan's Nikkei 225 rose 0.46% to 15529.4, while Hong Kong's Hang Seng is up 1% to 24,456.5.
Yukos was run by what was then Russia's richest man, Mikhail Khodorkovsky. The $50bn (£29.4bn) the Hague court is said by Reuters to be awarding the shareholders is half the $100bn they were asking for. The claim is from subsidiaries of Gibraltar-based Group Menatep. Menatep now exists as holding company GML and Khodorkovskyis no longer a shareholder either entity.
One more from Mr Caicedo on Argentina's debt woes. He says default will be very damaging for the country because it has been trying to normalise its relationships with capital markets and that will go out the window. He adds that will also mean Argentine provinces won't be able to go to the markets to raise cash by issuing bonds of their own - and that will start to feed into their ability to pay wages to government employees, among other things.
Reuters has a report - citing unnamed sources - that the Hague's arbitration court has ruled in favour of a group of shareholders in former oil giant Yukos against Russia, awarding compensation of around $50bn. That's half the amount originally claimed.
Reckitt Benckiser - which does a host of branded goods from condoms to cleaning fluid Cillit Bang - reports a 4% rise in sales for the past six months. Profits rose 16% to £1bn. The company has also decided to spin off its Suboxone pharmaceuticals business in the next 12 months, ending months of speculation over the shrinking division's future.
Private healthcare is 15% overpriced, estimates Bupa. The healthcare group itself has been criticised in the past by regulators for lack of clarity around its policies. Bupa boss Damien Marmion says they're working on that: "We have addressed it substantially, but will continue [to deal with the matter]."
More on Fracking. David Hunter tells Wake up to Money the industry will obviously will need to regulated properly. "It is right that we are clear on how tight regulation should be," he says, but "it's also clear we should be spending more time assessing the potential of fracking" given energy security concerns, he adds.
Mothercare has responded to the news US rival Destination Maternity has gone off the idea of bidding for it with a corporate shrug. A statement says it "notes" the offer withdrawal and also "notes" it has had no contact with Destination Maternity for about six weeks. It says under new boss Mark Newton-Jones it is now "fully focused" on its turnaround plan.
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%.
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.
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.
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.
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.
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."
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."
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."
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.
Why two Spanish sisters started a bakery in a desert
Why do Germany's super-rich so often keep their heads down?
Sharp falls in China's property market
Rising house prices left me high and dry - twice!
Why the ever rising pound is not all good news
So why don't I feel better about my cashflow?
Squaring up to Senegal's cattle rustlers
Business gurus reply to your questions
Last Updated at 04:17 ET
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