Business News

June retail sales slump at sharp rate
Retail sales slumped in June at the sharpest rate on record, official figures showed on Thursday, more than wiping out May's record rise and dragging three-month growth down to its weakest since late last year. British Energy says in advanced talks
Nuclear power operator British Energy <BGY.L> said on Thursday it is in advanced discussions with one party, which industry sources have said is France's Electricite De France <EDF.PA>. BG's profit soars as prices jump
Gas producer BG Group <BG.L> said profits soared in the second quarter, and beat forecasts, thanks to high gas prices but shares fell as investors focussed on lower-than-expected production and gas prices in Britain. Ford posts loss on truck slump
Ford <F.N> posted a $8.7 billion (4.4 billion pound) quarterly loss on Thursday as it wrote down the value of truck and SUV operations and cautioned that it did not expect to see a U.S. economic turnaround until 2010. EasyJet sees year profit down on soaring fuel
Budget airline easyJet <EZJ.L> warned on Thursday the soaring cost of fuel could cut full year pretax profits 42 percent to 110 million pounds, and unveiled plans to cut capacity this winter. Funds body to protest over M&S chief's dual role
Controversy over Stuart Rose's combined role as chairman and chief executive at Marks & Spencer <MKS.L> looks set to persist, after a major investor group unveiled plans for a protest at next year's shareholder meeting. Investors grab Fannie and Freddie after vote
NEW YORK (Reuters) - Investors snapped up shares of mortgage finance giants Fannie Mae <FNM.N> and Freddie Mac <FRE.N> before Wall Street opened on Thursday, a day after the U.S. House of Representatives passed a massive rescue package to shore up the struggling housing market. FTSE falls as oils eclipse gains
The top share index fell by midday on Thursday as lower oil prices weighed on heavyweight energy stocks, though a trading update boosted retailer Kingfisher <KGF.L> and Credit Suisse <CSGN.VX> results lifted banks. Russia's Sechin calls on TNK-BP owners to solve row
VYKSA, Russia (Reuters) - Russia's influential Deputy Prime Minister Igor Sechin on Thursday called on BP and its Russian-connected partners in TNK-BP venture to solve the conflict which he said was preventing the firm from growing. FSA defends short-selling rules
The financial watchdog on Thursday defended rules which force investors to reveal short positions in companies going through rights issues, saying it had helped prevent market abuse and further instability.