According to this article in the Guardian, the BBC is engaged in a rebranding campaign for its news services. The changes involve new sets, a new logo (a red globe symbol), and new station identifications (often called "idents"). The domestic news channel, BBC News 24, is being renamed BBC News and the international news channel, BBC World, is being renamed BBC World International. The stated goal for these changes is to provide a more uniform look and structure for all of their news services. The revamp will cost £550,000.
In the past, the BBC has spent large sums of money revamping their image, sometimes with controversial results. Through the magic of the internet, you can see many of the results for yourself. The best examples I have found are on TV & Radio Bits.
For instance, in 2001 the BBC spent £700,000 for a widely disliked series of idents for BBC1 which aired from 2002 to 2006. In 2006, they spent £1.2m for eight idents for BBC1 that are still airing. A better remembered series are the balloon idents which ran from 1997 to 2002. They seem to have cost the BBC around £700,000, but they were part of a broader revamp which cost £5.5m.
At one time, BBC America used shorter versions of the balloon idents with slightly different music. I liked them, and thought that they added a touch of class to the channel.