BUSINESS CLASS: Rupert's digital disaster

Our travels this week take us to News Corp headquarters where Rupert Murdoch is rapidly transforming MySpace into a social media Frankenstein, and to New York, where Goldman Sachs' PR man is taking the firm's new European image crisis in his stride.

Forget the share price, the analyst reports, the criticisms of the commentariat; the surest indicator that a business is going south is when it finds its way onto an episode of Saturday Night Live. Such was the ignominious fate of social networking site MySpace, when it was described as the internet's "abandoned amusement park" in a recent skit on the famous New York sketch show.

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