Investors Dumping Mirror Shares

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After the higher than they hoped damages awarded to Mirror phone hacking victims last week the struggling newspaper group admitted that “costs of settling claims is likely to be higher than previously anticipated we are increasing our provision to deal with matters arising from phone hacking by £16 million. This is in addition to the £12 million provided in 2014.” So the Mirror group has gone from denying that there was any hacking at all, to putting aside £12 million and now more than doubling the provision to £28 million…  

City investors are still worried that this is nowhere near enough and that the final figure will be nearer £100 million, the shares have been trading down since the ruling with £30 million knocked off the capitalisation this week. There is some question as to if the company will be able to pay a dividend…


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Scruton reflects on Twitter’s vigilantes…

“We in Britain are entering a dangerous social condition in which the direct expression of opinions that conflict – or merely seem to conflict – with a narrow set of orthodoxies is instantly punished by a band of self-appointed vigilantes. We are being cowed into abject conformity around a dubious set of official doctrines and told to adopt a world view that we cannot examine for fear of being publicly humiliated by the censors. This world view might lead to a new and liberated social order; or it might lead to the social and spiritual destruction of our country. How shall we know, if we are too afraid to discuss it?”

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