Wednesday, July 20, 2011

News Corp shares rise after hearing

Shares in News Corporation have recovered ground after Rupert and James Murdoch's appearance in front of a committee of British MPs.

News Corp shares closed up 5.5% in New York and rose 5.1% in Sydney.

The move recovers some of the losses sustained as the phone-hacking scandal at its newspaper title, the News of the World, has unfolded.

But pressure on the company has continued, with more shareholders questioning the company's standards.

The giant Californian public pension fund, Calpers, has joined the list of those who are unhappy with the way the company has been managed.

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