UK Business News

Britain set to print cash as rates hit record low

Alistair Darling is considering expanding the money supply by billions as interest rates appear certain to fall to an historic low

FSA may extend rule on short-selling disclosure

City regulator is examining whether to extend disclosure of short-selling to all 3,489 companies publicly traded in the UK

• FSA fortifies campaign to stop insider deals

• FSA calls end to ban on short-selling

M&S to close 27 stores and cut 1000 jobs

Decline in sales of luxury food signal the end for Simply Food stores while Domino's Pizza and Greggs see their sales rise

• Rose spurns pay rise as M&S cuts £200m costs

• COMMENT: It's about bad strategy and timing

Ashley loses £50m as Blacks warns on profits

Sports Direct owner suffers paper loss on his 29.9% stake in Blacks Leisure after profit warning because of falling sales

World Business News

Santander to miss targets over Madoff

Spain’s biggest bank predicted to miss its €10bn profit target after compensating clients on Madoff and Lehman bonds

Merckle couldn’t bear pressure of possible sale

Villagers in his home town speak fondly of dead German billionaire Adolf Merckle whose suicide note said: 'I’m sorry'

• German tycoon commits suicide after VW losses

• VW shares rise 8% as profits leap by €500m

Lyondell asks to pay non-US creditors first

Bankrupt chemicals company has asked a US court for permission to pay foreign creditors $350 million

Netbooks next big thing in electronics world

Market for small, cheap laptops with limited memory and features predicted to withstand downturn this year

• Product reviews: Netbooks

• Gadget sellers look for an upbeat Christmas

Analysis

We need action on banks, not rate cuts

Cutting interest rates to 1.5 per cent or less would be an historic move, but the impact on the economy would not be great

• China cutbacks are a warning for aerospace

• Marks & Spencer is in for a rough ride

Punish savers and make them spend

Near-zero interest rates and even a tax on bank deposits are necessary to force those with cash to use it productively

Tempus: Supermarkets serve up a little cheer

Performance caps a year in which UK food retailers outpaced both their troubled non-food peers and the wider stock market

Money 

Savers count cost as banks cut deposit rates

Increasing number of savings accounts pay interest of 1 per cent or less

Energy bills to drop by more than £100

Gas and electricity suppliers are expected to follow Scottish Power's lead by cutting tariffs

• British Gas guarantees its lower energy prices

• Ways to cut bills during a recession

More pain for with-profits savers

Millions of savers with endowments, bonds and pensions have been warned that maturity payouts will be slashed

• Standard Life cuts with-profits bonus rates

• Market falls threaten Norwich Union's £1bn payout

Law 

FSA considers forcing disclosure of all short positions

Regulator is considering introducing a requirement that 'significant' short positions in all UK shares be disclosed

Boardman: law firms right to cut partners

The UK's leading corporate lawyer says that firms should protect associates and target underperforming partners instead

• Hard times hit partners in leading law firms

• EAT rules law firms can force partners to retire

£6m of sick miners' awards went to union

The NUM was paid £6m by a firm of solicitors that deducted the money from miners' compensation, a tribunal was told

• Miners’ scandal: more solicitors face tribunal

• Sick miners scandal lawyers struck off

business travel 

Profile: Raymond Blanc

The celebrity chef talks of how his forgetfulness has turned business trips into nightmares and his views on the state of airline food

• Profile: Shopaholic Patricia Davidson

• Profile: Dame Mary Perkins, Specsavers

The 2009 business traveller

What does the coming 12 months hold in store for road warriors? Business travel editor Mark Frary makes his predictions

Airlines start January sales

Bmi offering discounts with no blackout dates or minimum stay requirements; one way BA upgrades to business class from £59

• The best last minute travel deals and bargains