UK service sector slumps to slowest growth in five years

Growth in the UK’s dominant service sector almost flatlined in April – slowing sharply to its weakest pace since the Iraq invasion month of March 2003 – raising serious questions over the momentum of the economy.

	Lloyds TSB rules out cash-call despite revealing write-down
	Lloyds TSB said it had no need to join the queue of banks seeking to raise billions of pounds from shareholders after unveiling relatively modest write-downs in respect of the credit crunch.

Iberdrola puts final touches to nuclear bid

Iberdrola, the Bilbao-based owner of ScottishPower, is putting the final touches on a bid for British Energy, power industry sources said last night.

Aberdeen becomes top-10 player

Aberdeen Asset Management yesterday raised £97.65m from investors to purchase fund manager Goodman Property Investors for an initial £89m.

Bovis Homes issues profits warning

Bovis Homes issued a profit warning yesterday saying housing market conditions have deteriorated sharply in the last two months, and results for the first half of 2008 will be substantially lower than previously forecast.

BA passenger numbers fall after T5 chaos

British Airways’ passenger numbers dipped last month as the airline dealt with the shambolic opening of Heathrow’s Terminal 5. BA carried 2.59 million passengers in April 2008 – a 7.9% fall on the April 2007 total.

Pharma giant loses patent on medicine

AstraZeneca said yesterday that a European patent covering the use of its Symbicort medicine as a treatment for a condition commonly known as "smoker's cough" has been revoked.

Call to speed market rules overhaul

MPs and regulators joined forces yesterday to demand the government speed up the introduction of new market abuse rules.

Expansion at HBJ Gateley

Scottish law firm HBJ Gateley Wareing has swallowed specialist maritime practice Holmes Hardingham to bolster its position in the lucrative London shipping sector.

Financial police beef up prosecution team

The team investigating illegal market practices including insider training has more than doubled in size, the Financial Services Authority (FSA) said today.

Centrica and EDF 'mull £11bn British Energy bid'

Power firms Centrica and EDF are in talks about creating a new Anglo-French company to mount an £11 billion bid for British Energy, it was reported today.

Insolvency specialist predicts 20% surge in business failures

The number of business failures north of the border will surge by 20% in 2008 as the effects of the global credit crunch come home to roost, according to the predictions of one of Scotland's leading corporate recovery specialists.

	Oil prices could scupper recovery
	High oil prices could "snuff out" any recovery in the UK economy during the coming two years, economists warned today.

Manufacturing exports lighten economic gloom

Manufacturers in Scotland are faring better than those in much of the UK and anticipate escaping the widespread job cutting that is expected across much of the country in the next few months, according to figures published by the Confederation of British Industry today.

All in the family again at Bone Group

Wishaw-based steel company the Bone Group is being run by a member of its founding family again after Chris Bone stepped in to replace departing chief executive David Higgins.

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