UK Businessman to be extradited
A British businessman will be extradited to America on Friday, despite his attempts to surrender voluntarily. Jeremy Crook, a former European director of Peregrine Systems of the US, will be taken by marshals to San Diego. In accordance with American law, Mr Crook will be held at a detention centre until his trial in April. He denies participating in a billion-dollar fraud at Peregrine, which collapsed in 2002.
Facebook U-turn
Facebook, the US-based social network website, unveiled new privacy controls after 700,000 members protested against a feature that let users track friends online. Users will now control which facts are shared. Mark Zuckerberg, the site’s chief executive, said: “We really messed this one up.”
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Age discrimination rules that would have made firms rush in pension-scheme changes have been delayed by two months after employers’ complaints. Responsibility for the rules’ pensions section has been moved to the Department for Work and Pensions, from the Department of Trade.
Rupert Murdoch, chairman and chief executive of News Corporation, parent company of The Times, was paid $25.9 million (£13.8 million) last year, up from $23.6 million the year before. There is also a $50,000-a-month payment for an apartment leased by News Corp for the chief executive’s personal use. Mr Murdoch earned less than Peter Chernin, the company’s president and chief operating officer. He received $29.3 million, up from $27.4 million a year ago. News Corp said that the pay reflected improved bonuses on the basis of a calculation of growth in earnings per share, which was 26 per cent ahead last year in the group’s continuing operations.
Go-Ahead slips
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Go-Ahead, the bus and rail group, reported a 4 per cent fall in full-year underlying pre-tax profits after the July 2005 terrorist attacks in London deterred discretionary rail travelling and after bus fuel costs rose. The group said that a possible rise of 65 per cent in electrification costs may hit current-year rail profits.
Wetherspoon up
JD Wetherspoon, the pubs operator that sells coffee and breakfasts as well as beer and wine, saw annual profits surge by almost a quarter to £58.4 million. The group began vying with chain operators including Starbucks 18 months ago. It now sells as much coffee as Caffè Nero and has 6 per cent of the market.
Aga advances
Aga Foodservice shrugged off a slowdown in the consumer market with record profits as its classic cookers were snapped up in France, Ireland and America. Half-year pre-tax profits rose 11 per cent to £20 million, with 18 per cent of the group’s Rangemaster sales now outside the UK, against 13 per cent last year.