Business news in brief: Xstrata | Thames Water | News Corp

Published on 22/09/2012 00:00

THE City Takeover Panel has granted global miner Xstrata and trading house Glencore an extra week to allow the former’s directors to consider whether to recommend the $36 billion (£22bn) increased bid from Glencore.

The deadline for a decision has been extended from next Monday to 1 October. Glencore, Xstrata’s biggest shareholder, raised its offer earlier this month in an effort to rescue the deal after sovereign investor Qatar Holdings demanded improved terms in June.

Thames Water wins series of licences

Thames Water, the UK’s biggest water company, has been granted licences to sell to businesses throughout Scotland, England and Wales.

The firm currently serves 14 million mainly residential customers in London and south-east England, but will now be able to target high-use businesses in England and Wales, such as large supermarkets, breweries and heavy industry. It will also be able to sell to businesses in Scotland, regardless of how much water they use.

More responsibility for James Murdoch

James Murdoch is set to be given more responsibility over News Corp’s US television operations more than a year after he became a central figure in the company’s phone hacking scandal in the UK.

The 39-year-old son of News Corp chairman Rupert Murdoch will be given a larger, more operational role in the Fox Networks Group, which oversees Fox’s broadcast network and its cable channels, which include National Geographic, sources said.