Chancellor losing room for manoeuvre with his borrowing

Chancellor of the Exchequer Alistair Darling met his Budget borrowing forecasts yesterday, according to official data, but City analysts warned of tougher times ahead for the public finances as the economy slides into a downturn and perhaps even a recession.

	Treasury hammers out rescue scheme
	As more bad news hit the housing market yesterday, banking industry sources said the government is expected to announce details of a rescue plan to ease tight conditions in the beleaguered mortgage sector next week.

Scottish operation may escape Merrill Lynch cut-backs

Merrill Lynch, the Wall Street investment bank, yesterday said it would cut a further 2900 jobs worldwide - but an insider signalled to The Herald that its small Scottish operation may escape unscathed.

Ratesetters‘walking tightrope’ - Bean

Higher prices for food and commodities like oil and the recent fall in the value of sterling will push up the UK inflation rate beyond 3% and force Bank of England Governor Mervyn King to write an explanatory letter to the Chancellor, Charles Bean, the Bank's executive director and chief economist, warned last night.

Housebuilders and oil sector dominate Scottish high-fliers

Robertson Group is Scotland's fastest-growing private company in profitability over the past three years, according to the latest Profit Track 100 survey.

Thomson Reuters has shaky start as stock sheds 10%

Shares in Thomson Reuters, the newly-merged news and business information company, got off to a bad start on equity markets yesterday, shedding more than 10% of their value in UK trading as investors fretted over huge losses incurred by the financial services industry.

WH Smith weathers high street storm

Graeme Evans WH Smith posted an 8% rise in half-year profits yesterday after stronger trading at its travel locations offset a sales drop on the high street.

Candover-led team agrees Expro deal

Expro International shares jumped by 9% yesterday as a private equity consortium led by Candover said it had agreed a £1.6bn buy-out of the oil and gas services company.

Invigorated Co-op aims to acquire Somerfield

The Co-operative Group said it wanted to buy the Somerfield chain after announcing strong growth in profits on both sides of the border, helped by a continuing drive to upgrade its stores.

Positive message from i-mate sends battered shares back up

Shares in i-mate, the beleaguered mobile phone and hand-held computer developer that is majority-owned by Glaswegian Jim Morrison, surged 13.5% yesterday after the company poured cold water on rumours that it was on the verge of collapse or a sale.

Co-op unveils £1.5bn plan and confirms Somerfield talks

The Co-operative Group today unveiled an "ambitious" three-year plan to double profits and invest £1.5 billion in transforming its retail estate.

	Scottish jobs market still outperforming rest of UK
	The Scottish jobs market continued to outperform the UK in the latest period when unemployment fell on both sides of the border amid growing turbulence in credit markets.

Soaring commodity prices fuel share price rally

Global stock markets careered higher yesterday, spurred by red-hot commodity prices and a raft of surprisingly upbeat earnings on Wall Street, which reassured investors.

Wall Street mis-spells cast as Brown arrives to talk policy

If Gordon Brown's visit to Wall Street yesterday was meant to boost his standing among the masters of the universe he has work to do.

	Euro piles pressure on US and UK currencies
	The euro extended its bull run yesterday, jumping to record levels against the beleaguered dollar and the pound after European Union officials announced that inflation in the 15-nation currency zone reached its highest level in 16 years.

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