The latest allegation from the Telegraph is that an examiner from the Edexcel exam board told its reporters that one of its exams was easy.

BBC: Government calls for 'fundamental reform' of exam system

However, I noticed that some people in refuting the substance of the Telegraph report from yesterday implied that it must have been Dan Loeb on the board who leaked this report.

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Interestingly, the drugmaker has reportedly hired a consultant to search for up to two new non-executive directors to replace incumbents who are likely to retire at the next annual general meeting, which is scheduled for May, according to The Telegraph, which writes that the search is believed to be part of a wider process to revive a board that includes 12 non-executive directors.

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Hollinger International's poison pill, if Delaware's chancery court declares it legal in the next few weeks, would spoil his deal by diluting the Barclay brothers' voting control down from 73% to 20%, meaning that they would not be able to stop the board of Hollinger International selling off the firm's assets, which include Britain's Daily Telegraph.

ECONOMIST: A new use for the poison pill