Business Bites: Reports of possible split of company make News Corp shares rise

Shares in News Corporation have risen 2.4% in Australia following reports that the company may be split in two. The Wall Street Journal, which is owned by News Corp, said that the TV and entertainment businesses would be separated from publishing.

The Murdoch family, which has 40% of the voting shares, would retain control of both.

Meanwhile, European authorities have unveiled their vision for the future, which gives them much greater powers before Thursday's EU summit.

The BBC's Jamie Robertson discusses the key financial stories of the day.