Business, finance

In the last one hour

UK retail sales 'at record low'   (BBC News)  A CBI report on UK retail sales posts its worst monthly reading since it was first compiled 25 years ago. US GDP rebounds with 3.3% growth   (BBC News)  The US economy grew 3.3% in the second quarter of 2008, the Commerce Department said, much higher than first thought. Profits tumble at retailer Sears   (BBC News)  US retail group Sears reports a 62% drop in second-quarter profits after struggling to attract customers. Czech firm plans giant wind farm   (BBC News)  Czech power firm CEZ is to build what it says will be Europe's largest onshore wind farm, in a £1.1bn-euro project. British Energy optimistic about EDF deal   (Reuters UK)  LONDON (Reuters) - British Energy described as "optimistic" government hopes that it may agree a merger with French power group EDF in the next two weeks, saying a deal in September or October is more likely.

In the last two hours

Higher rate savings accounts grow   (BBC News)  More savings accounts with interest matching or topping the base rate are available than in previous years. RSA Insurance surges on renewed bid talk   (Reuters UK)  LONDON (Reuters) - Shares in RSA Insurance surged nearly 6 percent by 2:00 p.m. on Thursday as traders cited renewed market talk of bid interest from Zurich Financial Services .

Previous

Hurricane fears raise oil prices   (BBC News)  The cost of crude rises for a fourth straight day on fears that Tropical Storm Gustav may disrupt oil production. Aer Lingus warns fuel, slowdown threaten viability   (Reuters UK)  DUBLIN (Reuters) - Irish airline Aer Lingus expects to make losses this year and next due to high fuel costs and a slowdown in consumer spending, which it said could threaten the long-term viability of its business. Shire awaits more data on Renovo's Juvista   (Reuters UK)  LONDON (Reuters) - Renovo Group , the scar reduction specialist, said on Thursday that Shire Ltd would not push ahead immediately with final-stage trials on its Juvista product, despite promising Phase II test results. EU may crack down on mobile operators overcharging   (Reuters UK)  BRUSSELS (Reuters) - The European Commission may propose legislation to crack down on overcharging by mobile phone operators, the European Union executive said on Thursday. Hovis maker sees debt level rise   (BBC News)  Hovis-maker Premier Foods has seen its profits fall and debt level rise in the first half of the year, on higher raw material prices. Henderson to leave UK tax regime   (BBC News)  UK investment fund Henderson Group says it is setting up a new Irish parent firm to cut its tax bill. China's CNPC seals $3bn Iraq deal   (BBC News)  China's state-oil firm CNPC has agreed a $3bn (£1.63bn) oil services contract for Iraq. Sails forecast   (BBC News)  Dorset firms look forward to 2012 Olympic gold House prices and retail sales slide   (Reuters UK)  LONDON (Reuters) - British house prices fell 1.9 percent this month alone and retail sales dropped at their sharpest pace in at least 25 years, two separate surveys showed on Thursday, adding to the gloom on the economic outlook. Hot small caps - BBA Aviation plunges as it warns on second half   (Reuters UK)  LONDON (Reuters) - Following is a round-up of key small caps on European stock exchanges on Thursday. Retail sales post record fall in August   (Reuters UK)  LONDON (Reuters) - Retail sales fell at their sharpest annual pace in at least a quarter of a century in August as the housing market contraction and wet weather hit retailers hard, a survey indicated on Thursday. Oil rises towards $120 as Gustav threatens U.S. Gulf   (Reuters UK)  LONDON (Reuters) - Oil rose towards $120 a barrel on Thursday, its fourth day of gains, boosted by the threat of damage to U.S. oil installations from Tropical Storm Gustav. Watchdog seeks mobile telecoms deregulation   (Reuters UK)  LONDON (Reuters) - The mobile telephony market needs less regulation and more competition, telcoms industry watchdog Ofcom said on Thursday, launching a consultation with industry players and consumers on the 15 billion pound market. Computacenter shares down as profit falls   (Reuters UK)  (Reuters) - Computacenter said its first-half pretax profit fell 14.2 percent hurt partially by a weak start in its UK and France business and an interest charge related to its share repurchases, sending its shares down nearly 13 percent in early trade. Debt worries overshadow Premier Foods profit rise   (Reuters UK)  LONDON (Reuters) - Premier Foods , the nation's biggest food manufacturer, reported a 4 percent rise in first-half pretax profit in line with expectations on Thursday but its shares fell on renewed concerns over its debt levels. US backs international standards   (BBC News)  US firms could have to use international accounting standards by 2014, under a proposal put forward by the SEC. Condor joins merger talks with TUIfly and Germanwings   (Reuters UK)  LONDON (Reuters) - Thomas Cook's charter airline Condor has joined "early talks" with TUI Travel's TUIfly Germany and Lufthansa's Germanwings unit over a possible three-way merger, the companies said on Thursday. Premier Foods CEO "comfortable" with debt level   (Reuters UK)  LONDON (Reuters) - Premier Foods Chief Executive Robert Schofield said he was comfortable with the group's debt despite it rising to over 1.8 billion pounds at the end of June from 1.6 billion at the end of 2007. Nepalese sue US company over Iraq   (BBC News)  A Nepalese man and relatives of 12 others killed in Iraq four years ago sue American firm KBR on charges of human trafficking. Hurricane fears raise oil prices   (BBC News)  The cost of crude rises for a fourth straight day on fears that Tropical Storm Gustav may disrupt oil production. Charter pretax profit up amid strong emerging markets   (Reuters UK)  LONDON (Reuters) - Engineer Charter PLC reported a 14 percent rise in first half pretax profit and said continued strong trading thanks partly to orders in emerging markets gave it confidence for the year ahead. IMI posts profit and sees more progress   (Reuters UK)  LONDON (Reuters) - Engineer IMI posted a 35 percent rise in first half profit on Thursday and said it expected further progress during the rest of the year, although it might continue to see some areas of weakness. Aegis confident for 2008 after sales beats forecasts   (Reuters UK)  LONDON (Reuters) - Marketing group Aegis expects its results this year to be at the top end of market forecasts, it said on Thursday, after comfortably beating expectations in the first half thanks to its digital business, emerging markets and cost efficiencies. Toyota cuts car sales forecasts   (BBC News)  Japanese carmaker Toyota cuts its vehicle sales forecast for next year by nearly 7% as Western demand softens. Diageo expects 'challenges' ahead   (BBC News)  Diageo, owner of Guinness and Johnnie Walker, says it faces a "challenging" market after seeing little change in annual profits. Aer Lingus posts loss and says change needed   (Reuters UK)  DUBLIN (Reuters) - Irish airline Aer Lingus on Thursday posted an operating loss in the first half of the year, predicted a loss for 2008 and said it needed fundamental change to ensure the "long term viability of the business". AMEC raises margin target   (Reuters UK)  LONDON (Reuters) - AMEC , an oil, gas and mining engineer, reported an 87 percent jump in first-half, adjusted pretax profit to 90.4 million pounds on Thursday and raised its 2010 margin target. Carillion profit up on bidding activity   (Reuters UK)  LONDON (Reuters) - Building and support services group Carillion met forecasts with a 59 percent rise in first-half profit on Thursday, driven by high bidding activity in its main markets, and said it expects to make strong progress in 2008. Kazakhmys earnings down at bad weather hits   (Reuters UK)  LONDON (Reuters) - Kazakh miner Kazakhmys posted a 21 percent fall in first-half earnings per share on Thursday as bad weather hit output, outweighing higher prices. Hunting's profit rises 11 pct on high oil prices   (Reuters UK)  LONDON (Reuters) - Oil services company Hunting said on Thursday half-year profit from continuing operations rose 11 percent to 23.9 million sterling . Diageo earnings rise but growth target cut   (Reuters UK)  LONDON (Reuters) - Diageo , the world's biggest alcoholic drinks group, posted a 7 percent rise in annual earnings on Thursday, but cut its profit growth target due to slower global economic growth. Profits plunge at Credit Agricole   (BBC News)  Credit Agricole reports a 94% fall in second-quarter profits after the bank is hit by a loss at its investment banking division. Nikkei says Europe and Japan planned dollar rescue   (Reuters UK)  TOKYO (Reuters) - The United States, Europe and Japan planned joint intervention to rescue the dollar when it was plunging in March at the time U.S. investment bank Bear Stearns collapsed, the Nikkei business newspaper reported. Wage deals ease in July but pressures remain   (Reuters UK)  LONDON (Reuters) - Pay deals eased slightly in the three months to July, but there are signs that wage settlements in some sectors could be starting to reflect surging living costs, a survey showed on Thursday. FTSE seen opening 6-11 points higher   (Reuters UK)  LONDON (Reuters) - The FTSE 100 index is seen opening 6-11 points higher on Thursday, according to financial bookmakers, having closed up 57.4 points, or 1.1 percent at 5,528.1 in the previous session. Nationwide says house prices fall 1.9 percent in August   (Reuters UK)  House prices fell 1.9 percent in the month of August to post their biggest annual drop since monthly records began in 1991... Banking revival   (BBC News)  Is there scope for Spanish firms to beat the trend? Life on board   (BBC News)  Taking to the water to beat the housing market slump Oil above $118 on storm fears   (Reuters UK)  HONG KONG (Reuters) - Oil prices climbed for a fourth day on Thursday on worries a storm may gather force to become the worst threat to U.S. offshore production since 2005, while the euro rose on tough inflation talk from the European Central Bank. Ringing the changes - BT puts phone boxes out for 'adoption'   (BBC News)  Ringing the changes - BT puts phone boxes out for 'adoption' Management shake-up at Fannie Mae   (BBC News)  The US mortgage giant announces a shake-up of top executives in an attempt to restore confidence. US household incomes fail to grow   (BBC News)  The average household in the US is no richer now that six years ago despite strong economic growth. British workers 'fear job losses'   (BBC News)  More than one in 10 British workers fear they will lose their job in the next year because of the economy, the TUC says. House prices 'fall 10.5% in year'   (BBC News)  UK house prices are down 10.5% on a year ago, the first annual double-digit fall since 1990, the Nationwide says. United Tech says tests world's fastest helicopter   (Reuters UK)  BOSTON (Reuters) - Diversified U.S. manufacturer United Technologies Corp , the world's second-largest helicopter maker, conducted the first test flight on Wednesday of what it called the world's fastest helicopter. ECB eyes tougher collateral terms but no decision yet   (Reuters UK)  VALLETTA (Reuters) - The European Central Bank wants to stop banks exploiting its generous rules to gain access to liquidity, two ECB governing council members said, but one of them added that that no firm decisions had been taken. Russian bear   (BBC News)  How UK could be affected if tensions with Russia grow Oil price rises on supplies fall   (BBC News)  The price of oil climbed by almost $3 after official figures showed US crude stockpiles fell unexpectedly last week. Italy hopes for new Air France-Alitalia tie-up   (Reuters UK)  RIMINI, Italy (Reuters) - Italy's government on Wednesday said it would welcome Air France-KLM buying into a reshaped Alitalia , hoping to woo back the French carrier after helping scupper a previous deal between the two airlines. Media buyer Carat cuts advertising spend forecasts   (Reuters UK)  LONDON (Reuters) - Carat, Europe's biggest media buyer, has trimmed its growth forecasts for global spending on advertising for this year and next after revising its estimates for the United States, Britain, Spain and China. Hot or cold?   (BBC News)  What house prices are doing in Scotland Infosys takes comfort from Axon bid backing   (Reuters UK)  CHENNAI, India (Reuters) - Infosys Technologies , India's second-largest software services exporter, said on Wednesday it was better positioned than any potential rival bidder for Axon Group because its offer has the backing of Axon's management. Rise in US durable goods orders   (BBC News)  New orders for long-lasting US manufactured goods rise by a surprise 1.4% in July, led by a big rise in aircraft sales. Ghost town   (BBC News)  Boom turns to bust for Spain's property market Savings returns 'beating' shares   (BBC News)  Savers putting their money in funds investing in UK stocks and shares would have made more by putting it in a savings account. M&S suspends pay 'whistleblower'   (BBC News)  Marks & Spencer suspends a member of staff who told the press about its plans to cut redundancy payments. Antofagasta earnings up on high copper prices   (Reuters UK)  LONDON (Reuters) - London-listed Chilean miner Antofagasta posted an 8.8 percent rise in first-half earnings per share on Wednesday, slightly higher than forecasts, as higher copper output and prices outweighed rising costs. Hot small caps: Delek up on better assets   (Reuters UK)  LONDON (Reuters) - Following is a round-up of key small cap movers on the London stock market on Wednesday. Adecco set deadline for Michael Page bid   (Reuters UK)  LONDON (Reuters) - Swiss recruitment agency Adecco has been set a deadline of 5 p.m. on September 30 to decide whether to make a formal offer for rival Michael Page . Johnston sees difficult ad environment continuing   (Reuters UK)  LONDON (Reuters) - Regional newspaper group Johnston Press missed expectations for first-half sales as advertising sales fell 10 percent, and it said they fell a further 21 percent in the first seven weeks of the second half. Independent News posts drop in earnings   (Reuters UK)  LONDON (Reuters) - Newspaper and communications group Independent News & Media posted a drop in first-half earnings as expected on Wednesday and said full-year profit should meet consensus forecasts for a slight fall. Ireland's Superquinn gets interest from UK grocers   (Reuters UK)  LONDON (Reuters) - Superquinn, the Irish supermarket chain, said it had received expressions of interest from British retailers but denied its owners had put the business up for sale. FTSE flat early as commodities offset weak pharmas   (Reuters UK)  LONDON (Reuters) - The top share index was flat early on Wednesday as firmer metal and crude oil prices boosted commodity stocks, offsetting weakness in drugmakers. Oil rises for 3rd day   (Reuters UK)  LONDON (Reuters) - Oil rose for a third day on Wednesday, boosted by the possibility that Tropical Storm Gustav could become the first major storm since 2005 to threaten Gulf of Mexico oil and gas installations. Antofagasta sees profits rise 15%   (BBC News)  Mining giant Antofagasta reports a 15% rise in half-year profits as high copper prices offset higher production costs. Japanese auto production picks up   (BBC News)  Global output by Japan's top three carmakers picked up in July, reflecting strong demand despite the global economic slowdown. World poverty 'more widespread'   (BBC News)  The World Bank says there are more poor people in the world than previously thought, with one in four in poverty. Euro gains as dollar rally stalls   (BBC News)  The dollar loses some ground against the euro, a day after hitting a six-month high against the single currency.