But manipulation must often seem like a good idea in the heat of the moment--when a company is facing bad news on an important product that cost hundreds of millions of dollars to develop.

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The company's announcement kicks off an important week of profit news for the industry, with Continental and Southwest due to follow on Thursday.

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What is important in this context is that News Corporation, owner of News International, is no ordinary public company - in that (to state the blindingly obvious) Mr Murdoch wields considerably more power within the organisation than is typical of a public-company boss.

BBC: News International's Rebekah Brooks 'won't resign'

Late Wednesday, Moody's Investors Service said it might downgrade Ambac's (nyse: ABK - news - people ) all-important triple-A financial-strength credit rating after the company forecast significantly higher-than-expected losses from insuring credit derivatives, many of them tied to subprime mortgages.

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