THE NEWS WRAP: James Murdoch aware of phone hacking as early as 2008 says former legal manager

James Murdoch, CEO of News International, was made aware that phone hacking was rife at the News of the World as early as 2008, it has been claimed.

Speaking to a committee of British MPs, Tom Crone, the media company’s former legal manager, said that he informed Murdoch of an email which showed that phone hacking wasn’t confined to one rogue reporter, as News International previously claimed.

In response, Murdoch said that he stands by the evidence he previously gave MPs, while News International hit out at the “unclear and contradictory” details provided by Crone and Colin Myler, the former News of the World editor.

NSW Coalition unveils first budget

The NSW Coalition will slash costs by $8 billion over the next four years in order to wipe out the state’s $718 million deficit in 2011-12.

In the Coalition’s first NSW budget in 17 years, treasurer Mike Baird said that 5,000 public service jobs will be cut, with $1 billion raised in extra property tax and mining royalties.

Dell teams up with Baidu

Dell has revealed that it is partnering with Chinese search giant Baidu to develop mobile phone devices.

The tech company said that it was developing phones with Baidu’s new software platform for the Chinese market. https://www.bbc.co.uk/news/business-14799100

Overnight

The Dow Jones industrial average fell by 100.96 points, or 0.90%, to 11,139.30. The Australian dollar slipped to 104.94 US cents.