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Bright retail figures fail to lift FTSE gloom

A rare dose of good news from the high street failed to cheer investors today as more housing market woes dragged the London market into the red. Read

HBOS reveals £1billion in writedowns

Halifax Bank of Scotland spread more gloom in the banking sector today as it revealed £1 billion in write-downs and warned that house prices could now fall 9% this year. Read

Shock rise in retail spending reported

The prospect of an interest rate hike loomed today after retail sales rose by an “astounding” 3.5% last month - the biggest since records began more than 20 years ago. Read

HBOS downgrades forecast for property prices

Economists have dramatically downgraded their forecasts for house prices this year as the credit crunch tightens its stranglehold on the mortgage market. Read

Property market will slump for three years, say experts

Predictions of a three-year slump in the property market dealt a fresh blow to shares in the UK’s major housebuilders today. Read

LinkedIn gets £27million cash injection

An internet networking site aimed at professionals today said a £27 million cash injection from investors would help its expansion in Europe. Read

Woolworths boss departs suddenly

Woolworths caused a surprise today by ending chief executive Trevor Bish-Jones’ six-year run in one of the high street’s toughest jobs. Read

Business round-up: Thursday June 18

Thursday's business headlines in short Read

petrol

Deal struck to prevent next round of fuel strikes

A deal to resolve the bitter fuel drivers’ pay dispute was agreed tonight, averting the threat of further strikes. Read

Woolworths reports fall in high street sales

Retailer Woolworths today revealed the departure of its chief executive and said high street sales fell 2.2% in the first 19 weeks of its financial year. Read

Sainsbury's records growth in trade

Supermarket chain Sainsbury’s said today that its promotional offers had paid off, with a 3.4% rise in first quarter sales. Read

Bar operator feels pinch as credit crunch bites

A bar operator with heavy exposure to London’s financial district admitted today it was in crunch talks over the survival of the business. Read

Ofgem explains reasons for probe into energy markets

Energy regulator Ofgem said today it launched a probe into the UK gas and electricity markets because of the similar way in which energy firms hiked their bills during the winter. Read

FTSE boosted after interest rates pledge

The FTSE 100 Index gained more than 1% today amid rising hopes that policymakers will hold off from tackling inflation with interest rate hikes. Read

Media firms' tie-up is scrapped

A £3 billion tie-up between two rival media companies looked off the cards tonight after merger talks ended. Read

Barclays fuels speculation over £4bn cash injection

Banking giant Barclays today fuelled speculation that it is to seek a £4 billion cash injection from overseas investors. Read

CBI lowers economic growth expectations to 1.3%

Soaring fuel costs and weaker consumer demand will sink economic growth next year to its lowest level since 1992, the CBI business body forecast today. Read

Experts warn of 20% rise in business failures

Soaring costs and falling consumer confidence could herald a near-20% rise in business failures during the next two years, a leading accountant warned today. Read

FTSE preview: Sainsburys and Centrica results due

Inflation figures and trading updates from Sainsbury and Centrica should keep spiralling food and energy prices in the spotlight this week. Read

Barclays looks overseas for £4bn investment

Barclays, which employs nearly 1,000 staff in Liverpool, is on the verge of raising £4 billion from overseas investors, it was reported today. Read