Wolfson shares plunge by 25%

Investors yesterday obliterated a quarter of the stock market worth of Wolfson Microelectronics after the Scottish maker of chips for many of the world's must-have electronic gadgets reported a sharp decline in orders on the back of increasingly weak consumer demand.

HBOS shares advance as takeover by Lloyds wins approval

Shares in HBOS surged for a second day running after a big investor came out in favour of the proposed takeover by Lloyds TSB on the terms on offer and it emerged that Standard Life had bought a chunk of shares in the bank.

Mitsubishi stake helps AAM break into Japan

Japan's enormous Mitsu-bishi Financial Group has bought a £90m stake in Aberdeen Asset Management in a deal that will see it distribute the fund manager's products in its home market.

Latest CIPS findings full of woe for commercial builders

UK commercial construction activity fell during September at the fastest pace since the Chartered Institute of Purchasing and Supply (CIPS) began measuring it in 1997, amid a record pace of job-shedding in the sector as a whole.

Lower debt target as Powerleague keeps eye on ball

Five-a-side football operator Powerleague will open no new centres in the coming year as it focuses on paying down its debt.

McMillan Hotels holds steady

McMILLAN Hotels, the Stranraer-based family opera-tion, has held turnover and profit steady in the financial year to May 31.

Artemis duo sells off stake for £100m

John Dodd and Mark Tyndall, the senior members of Artemis Asset Management’s founding quartet, have netted more than £50m apiece from the sale of their stakes to majority owner Fortis after efforts to find an alternative shareholder foundered.

Engineering helps exports to hold steady

Scottish manufactured exports held steady in the second quarter, helped by a very strong performance by engineering and allied industries, despite growing signs that the global economy was flagging.

UK stocks up, but picture remains clouded

UK stocks rallied for a second consecutive session yesterday, led by financials, but a slide in mining stocks prevented the London market from notching up impressive gains.

Listen for the sound of a half-empty glass shattering

Whatever America’s legislators finally decide to do about the Bush administration’s bail-out plan, recovery in the global financial system is going to be a slow and painful process.

Souter sets sights on green wave

Transport magnate Brian Souter yesterday predicted “a complete change in people’s attitudes to public transport” on the back of research showing 10% of the population is making greener transport choices.

Lloyds-HBOS combine faces €5.7bn write-down

The proposed combination of Lloyds TSB and HBOS would create a bank facing €5.7bn (£4.5bn) of write-downs in the second half of this year, the worst in Europe, according to estimates from JPMorgan yesterday.

Kinch goes back to drawing board

Larry Kinch’s attempts to build a third oil and gas success story appear to have run into serious complications following a set-back on a key project

Harrods’ figures suggest clientele is immune from credit crunch

The credit crunch does not yet appear to have hit the pockets of the super-wealthy if the tills of luxury retailer Harrods are a guide, after the company reported taking in a record £690.2m last year.

Hard road ahead, but McConechy’s holds fast with improved earnings

McConechy's Tyre Services, the expanding independent Scottish tyre and exhaust business, has posted a 25% rise in profits and unveiled five acquisitions in spite of the rising cost of raw materials and business overheads.

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