Mirror Shares Crash Over Piers Hacking Claims

Trinity Mirror’s share price has crashed 12.5% this morning. It closed at 72p yesterday, opening at 65p when it was revealed overnight that the Mirror‘s publishers faced legal action over phone-hacking allegations, dropping again to 62p as the morning went on. £18 million was wiped from the value of the company. And there is more to come…

UPDATE: Trinity Mirror has a market capitalisation of £163 million, the group already has a pension fund deficit estimated to be £159.5 million, almost equal to the struggling media firm’s market capitalisation. Given News International has paid out some £200 million in hacking legal costs already the actual solvency of the firm could be in danger if claims mount up. Murdoch could afford to take the hit, Morgan’s old mates can’t…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Owen Smith backs one hour contracts but wants to abolish zero hours contracts:

“You need to give people a contract to say, ‘here’s what you will be working’. It could be one, but I’m saying it shouldn’t be zero, we should invert that emphasis.”

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.

Facebook

MACHO, LADDISH CULTURE OF BBC WALES BOYOS MACHO, LADDISH CULTURE OF BBC WALES BOYOS
TOBY PERKINS: “I LOVE TO SHOW MY BODY” TOBY PERKINS: “I LOVE TO SHOW MY BODY”
TRUMP ASKS RUSSIA TO HACK HILLARY’S EMAILS TRUMP ASKS RUSSIA TO HACK HILLARY’S EMAILS
TRUMP ASKS RUSSIA TO HACK HILLARY’S EMAILS TRUMP ASKS RUSSIA TO HACK HILLARY’S EMAILS
CANADIAN “HOT” LESBIAN OIL ADVERT PULLED CANADIAN “HOT” LESBIAN OIL ADVERT PULLED
EVERYBODY’S INVESTING IN BREXIT BRITAIN EVERYBODY’S INVESTING IN BREXIT BRITAIN
EMPTY SEATS AT SMITH CAMPAIGN RALLY EMPTY SEATS AT SMITH CAMPAIGN RALLY
“AMERITUDE” TRUMP JAM DAD SUES TRUMP’S CAMPAIGN “AMERITUDE” TRUMP JAM DAD SUES TRUMP’S CAMPAIGN
THERESA MAY SMILING AS TORY POLLS IMPROVING THERESA MAY SMILING AS TORY POLLS IMPROVING
HIGH COURT JUDGE COULD CROWN OILY LEADER HIGH COURT JUDGE COULD CROWN OILY LEADER
Trump 5% Ahead of Clinton Trump 5% Ahead of Clinton
LILY COLE FRONTS BBC “CEO SECRETS” SERIES AFTER RUNNING COMPANY INTO GROUND LILY COLE FRONTS BBC “CEO SECRETS” SERIES AFTER RUNNING COMPANY INTO GROUND
Guardian Media Group’s Losses Total £173 Million Guardian Media Group’s Losses Total £173 Million
MCGINN WHIPPED LABOUR MPS TO “KEEP UP THE PRESSURE ON JC” MCGINN WHIPPED LABOUR MPS TO “KEEP UP THE PRESSURE ON JC”
VICTORIA’S SECRET LINGERIE AND 5 STAR HOTELS: WELSH GOVT’S £7.5 MILLION CREDIT CARD SPEND VICTORIA’S SECRET LINGERIE AND 5 STAR HOTELS: WELSH GOVT’S £7.5 MILLION CREDIT CARD SPEND
OWEN SMITH HIRES TOP PFIZER LOBBYIST TO RUN CAMPAIGN OWEN SMITH HIRES TOP PFIZER LOBBYIST TO RUN CAMPAIGN
HAMMOND FIBS AND SAUDI SLAVERY SLIPPED OUT ON DUMPING DAY HAMMOND FIBS AND SAUDI SLAVERY SLIPPED OUT ON DUMPING DAY
MATTHEW ELLIOTT ON WHY LEAVE WON MATTHEW ELLIOTT ON WHY LEAVE WON