Murdoch could lose big

The phone-hacking story in England is not only out from under the carpet – it has gone ballistic. Fresh allegations are surfacing hourly, and it gets worse – now there are allegations of the phones of families of slain soldiers being hacked. Rupert Murdoch has been used to having politicians beating a path to his door, but the fallout from the scandal is now hitting his pocket. Major advertisers are deserting his papers, his share prices are dropping, and now there are signs that his takeover of BSkyB, the big prize, may be under threat. Comeuppance at long last, and where it hurts – couldn’t happen to a nicer chap. Cameron won’t escape either – he and Clegg are at odds over the scope of an enquiry.

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