Rupert Murdoch apologises to Hugh Grant over ‘love child’ tweet

News Corporation boss makes second Twitter climbdown in less than 24 hours. By Josh Halliday and Lisa O'Carroll

World Star Hip-hop: making a bankable brand out of brutality

Jason Farago: World Star's owner boasts his site is 'the CNN of the ghetto'. As its violent bus-driver video shows, it does exploitation brilliantly

Breakingviews founder Hugo Dixon to step back from editor role

Dixon to move to Reuters News after 13 years editing financial commentary site

Guardian News & Media names Wolfgang Blau digital strategy director

Editor of German weekly Die Zeit's online operations to take up post at GNM in April 2013. By Mark Sweney

Vincent Bolloré to gain seat on Vivendi board

French billionaire's investment vehicle increases stake in media group from 4.4% to 5%. By Mark Sweney

City AM profits drop 95% in 2011

London's financial freesheet reports pre-tax profits falling from £439,000 in 2010 to just over £20,000 last year. By Mark Sweney

Mobile advertising hits £500m in 2012

Growth of smartphones and tablets has led to UK advertising on mobile devices growing 132% in the first half of year. By Mark Sweney

Warner Music’s owner makes £81m investment in Deezer music service

Len Blavatnik buys stake in music streaming service, which has been profitable since 2010 and is in a partnership with Facebook. By Mark Sweney

Last.fm reports £4.4m pre-tax loss

CBS-owned online music service hit by fall in revenues in US market and dip in advertising sales. By Mark Sweney

Investis bought by management in £30m-plus deal

Company that builds corporate websites and iPad apps also acquires Hemscott's investor relations business as part of deal. By Mark Sweney

Google warned it could face antitrust proceedings in Europe

EU Competition commissioner says concessions do not go far enough to ease concerns it used its search clout to block rivals. By Charles Arthur

Yahoo sells chunk of Alibaba stake

Sale of 40% share in Chinese company generates $7.6bn to placate shareholders and enable financing of new acquisitions. By Charles Arthur and agencies