Oil steady below $45 ahead of expected OPEC cut

SINGAPORE (Reuters) – Oil steadied below $45 on Tuesday, bolstered by expectations that OPEC will agree its largest supply cut ever, after dropping 4 percent the previous day on persistent worries of a deepening economic slump.

Rate cut expected as Fed mulls emergency tools

WASHINGTON (Reuters) – The U.S. Federal Reserve is expected to lower interest rates closer to zero on Tuesday and point toward emergency tools it could deploy to end a year-long recession, with room to cut borrowing costs running out.

Money: Inflation – 16 December 2008

Andy Verity and Mickey Clark present this morning’s business stories, including:
Some good news is expected on the cost of living later this morning when official figures are likely to show that headline inflation has fallen sharply again in December.
Accountants warn 90% of small and medium sized enterprises might not get their accounts signed off in January making it much easier for banks to refuse loans.
There’s been the small matter of $50 billion disappearing after a highly respected hedge fund manager admitted he was running a pyramid scheme.
Finally, businesses across all sectors are struggling and not paying their rent might be something they will try to get away with.

Virgin Media rolls out superfast broadband

LONDON (Reuters) – Cable operator Virgin Media became the first Internet provider to roll out a mass-market super-fast broadband service in Britain on Monday, launching a 50 megabits per second offering.

UPDATE 1-CVC Asia to invest $225 mln more in PBL Media

SYDNEY, Dec 16 (Reuters) – Private equity group CVC Asia
Pacific has agreed to invest A$335 million ($225 million) more
in Australia’s PBL Media as part of a recapitalisation plan.

OPEC president wants "much more" than 1 million bpd cut

DUBAI (Reuters) – OPEC should cut oil output by “much more” than 1 million barrels per day as inventories were very high, OPEC President Chakib Khelil said in remarks published on Tuesday.

CVC Asia to invest $225 mln more in PBL Media

MELBOURNE, Dec 16 (Reuters) – Private equity group CVC Asia
Pacific has agreed to invest A$335 million ($225 million) more
in Australia’s PBL Media, Consolidated Media Holdings Ltd
said in a statement on Tuesday.