Retail prices rising at fastest rate for 16 years

The delicate balancing act facing rate-setters was highlighted today after data showed retail prices rising at their fastest rate for 16 years but activity continuing to slow.

	C&W bid talk sees shares in Thus soar
	Shares in Thus yesterday leapt almost 26% after news broke that Cable & Wireless was back at the gates of the Glasgow-based alternative telecoms group and was poised to launch an audacious takeover move on the smaller Scottish rival.

About turn as Abbey increases cost of mortgages

The mortgage market signals flashed red again yesterday as one of the biggest lenders, Abbey, reversed last week's cuts on its core fixed-rate mortgages.

Generali out of race for Royal insurance

Royal Bank of Scotland’s hopes of securing a bumper price for the insurance operations it put up for sale last month, and which employ 1800 people in Scotland, dimmed when Italy’s Generali withdrew from the bidding.

Banking complaints ‘justified’

The Financial Ombudsman Service revealed yesterday that 84% of complaints about banking current accounts were justified last year, along with 79% of credit card complaints and 47% of cases involving the mis-selling of payment protection insurance (PPI).

Inflation fears dash hopes of interest rate cut

Any lingering hopes of a further near-term cut in UK interest rates were dealt a potentially fatal blow yesterday when it emerged that the UK public's median expectation of benchmark inflation over the next 12 months had leapt to a fresh record high of 4.1%.

Glasgow support agency looks east

A not-for-profit west of Scotland-based business support agency is set to expand its £1.5m loan fund into Edinburgh and the Lothians in a move to aid small businesses and start-ups struggling for cash amid the credit crunch.

Babcock announces incoming chairman

Mike Turner, the outgoing chief executive of Clyde shipyard owner BAE Systems, is to succeed Gordon Campbell as chairman of Babcock International, it was confirmed yesterday.

Security costs and T5 debacle blamed for BAA losses

Airports operator BAA said yesterday the cost of tighter security measures and money spent on the troubled launch of Heathrow’s Terminal 5 was responsible for a £51m operating loss.

Scots firm to help restore New Orleans hospital

RMJM, the Edinburgh-based architecture firm, has won a contract to supply advice on how best to restore a New Orleans hospital known by locals as the Big Charity that was severely damaged by Hurricane Katrina in 2005.

Core earnings at British Energy fall by 28% but beat forecasts

British Energy, the East Kilbride-based nuclear power generator, said yesterday core earnings fell by 28% last year mainly because of breakdowns at some of its power stations.

Burberry pushes ahead as profits soar to £195.7m

Fashion group Burberry is to make a further push into emerging markets and cash-rich regions after strong demand for luxury goods from countries such as China and Russia helped annual profits rise by a quarter today.

Recession worries help grocers’ figures

Discount food supermarkets are improving their performance as recession worries begin to bite, according to the latest market research.

Scottish & Southern Energy profits rise

Scottish & Southern Energy today said it added 700,000 customers in the year to the end of March after being the last of the major suppliers to increase prices in the latest round of energy bill hikes.

Thus in takeover approach from Cable & Wireless

Scottish telecoms firm Thus was at the centre of a takeover approach today after Cable & Wireless confirmed it was making an offer.

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