Sotheby’s nominated James Murdoch to its board. Why? Colin Gleadell takes a stab:

His responsibility for News Corporation’s development in Asia and the Middle East fits neatly with Sotheby’s plans in those regions. His interest in new media may also help Sotheby’s – which lost a small fortune on its first adventure into selling art online – to recover ground lost to Christie’s, which has been making profitable headway in that direction.

Market News (Telegraph)