Gloom is back, warns Murdoch

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The Independent Online

Companies and individuals alike have become much more anxious about the state of the economy over the past month, James Murdoch, the deputy chief operating officer of News Corporation, told an advertising conference in Cannes yesterday.

Mr Murdoch said he hoped that companies were in better shape after several years of paying down debt, but he warned: "The mood music has shifted – people are very fearful."