Latest breaking business news UK, financial business

Pension funds attack shake-up plans by regulator

The National Association of Pension Funds (NAPF) is today criticing proposals by the pensions watchdog to make schemes use more conservative mortality assumptions. Read

British Energy will hold discussions with possible bidders

British Energy says today it has received a “range of proposals” from several parties wishing to make a full offer for the nuclear power firm. Read

Record profits for British Airways but darker clouds gather

British Airways is today reporting a 45% surge in pre-tax profits to a record £883m. Read

New housing starts tumbled by almost a quarter in the first three months of 2008 to their lowest level in 12 years as builders shelved projects in an ailing market, official figures showed today. Read

Three million visitors flock to Liverpool for culture year

MORE than 3m people are expected to have visited Liverpool’s cultural attractions by the end of this week, as figures continue to break all records in Capital of Culture year. Read

BA makes £883m - but no bonus for chief exec

British Airways announced annual pre-tax profits of £883 million today, but warned it was braced for a “challenging” year ahead due to sky high oil prices and following its troubled move to Heathrow Terminal 5. Read

Departing BT chief executive reveals 3% rise in profits

BT chief executive Ben Verwaayen bows out on a high note today as he reveals a 3% rise in annual underlying profits to £5.78bn. Read

Currys and PC World to shrink in size to combat slowdown

Currys and PC World owner DSG International is going to shrink the size of its Currys.digital estate in a bid to revive the business. Read

Thomas Cook defies turndown as holidaymakers keep booking

Travel giant Thomas Cook is today reporting “robust” demand despite the economic gloom as travellers cling to their prized foreign holidays. Read

Barratt plans to reduce its number of sites

Barratt Developments said today it expected its number of sites to decline as it responds to a “significant” deterioration in market conditions. Read

Bradford & Bingley to ask shareholders for £300million

Yorkshire mortgage bank Bradford & Bingley has asked shareholders for £300m in a bid to bolster its balance sheet. Read

Sainsbury's unveils plan to boost non-food sales

Sainsbury’s unveiled plans to boost non-food sales today, including through the launch of a new online venture. Read

ScS slumps to an annual loss

Sofa chain ScS Upholstery is set to slump to an annual loss after it today revealed worse-than-expected trading over the crucial bank holiday weekend. Read

Compass points way to improve profits

The world’s biggest catering firm managed to post an increase in profitability today, despite wrestling with continued high food inflation. Read

Further rate cuts unlikely as Bank looks to rein in inflation

Further rate cuts for struggling home owners and borrowers look unlikely this year as policymakers battle to control runaway inflation, the Bank of England is signalling today. Read

Transport firm FirstGroup reports 39% surge in annual profits

The firm behind the First Great Western rail service recently branded “unacceptable” by ministers is today reporting a sharp jump in profits. Read

Supermarket giant Tesco makes £1bn investment in South Korea

Grocery giant Tesco is unveiling its biggest ever deal today after agreeing to spend nearly £1bn on beefing up its hypermarket presence in South Korea. Read

Airbus admits there will be further delays to A380 production

Airbus is admitting today that customers for its A380 superjumbo will face further delays. Read

Northern Foods announces plans to “mothball” meals plant

The future of more than 700 jobs at a factory which makes Italian ready meals for Marks & Spencer looks bleak today after managers announced plans to stop production at the site. Read

Bakery chain Greggs blames poor weather for drop in footfall

High street baker Greggs is reporting slower sales growth today after poor weather and challenging economic conditions combined to hit footfall. Read

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