UK Business News

John Lewis blames 'delicate' economy

Patrick Lewis, director of retail operations at John Lewis, says there has been a notable fall in customer confidence

Cooking oil waste gives new twist to takeaway

Rocketing petrol prices have prompted a rash of grease thefts from outside fast food stores as demand for biodiesel grows

• Shell joins search for green fuel with plan

• Corn price hits new high as US rain continues

Linklaters reveals record profits

One of the City's leading law firms announced a record turnover of £1.2bn, but still failed to overtake Clifford Chance

• A&O's £1billion result confirms London status

• Clifford Chance revenue rises to £1.3bn

Trouble on the buses as pensioners go free

Some local authorities are facing huge shortfalls in their transport budgets after pensioners given free bus travel

• Stagecoach warns of more West Coast misery

• Stagecoach picks up pace amid fuel fears

World Business News

Airlines could be 'unsustainable'

Moody's, the credit ratings agency, has said that many airlines, even the largest, could be forced into bankruptcy due to rising costs

BHP bid for Rio Tinto investigated by EU

Europe has begun a full investigation into BHP Billiton's proposed $170 billion takeover of Rio Tinto, its major rival

• BHP Billiton wins US approval for $38bn Rio offer

• BHP’s battle for Rio Tinto could run and run

Origin Energy rejects £13bn bid from BG Group

Australia's second-largest power retailer rejects a takeover bid by the UK oil and gas producer with hopes for better value

• BG Group launches £6.7bn hostile bid for Origin

• BG Group's £6.6bn offer for Origin rejected

Shares tumble as global bear market takes grip

Leading shares around the world fell further into the grip of a global bear market as investors took flight from equities

Analysis

Are banks beyond UK regulation safe?

It seems unthinkable that there could be any ambiguity over guarantees for savers. But the facts are not clear for non-British banks

• TPG’s opportunism should be no surprise

Is there a point to business training?

Business training is profoundly moronic as too many of these courses take very simple ideas and attempt to make them sound complex

Tempus: M&S pays price ... Pendragon brakes go on

Sir Richard Greenbury says that Marks & Spencer shares were hit by City panic ... Pendragon reveals it will have to cut 500 jobs

Money 

Is it too early to jump back into the market?

Some adventurous investors are snapping up cheap banks and housebuilders

• Seven stocks that are profiting from middle class thrift

Homeowners turn to loans to pay mortgages

More than 4 million households have taken out a loan or credit card to cover their mortgage or rent in the past year

• Falling house prices raise spectre of a crash

• Rock borrowers face payments rise

Consumers lose out in power play

Extra vigilance is needed when energy companies hike prices

Law 

Linklaters hits record on 15% revenue rise

City law firm says corporate work fell during the second half but growth in new markets compensated for declines

• Tempus analysis: Delayed reaction

• A&O's £1billion result confirms London status

Guy Hands sues Baker Tilly over 'negligent' tax advice

Investors including the private equity heavyweight have sued the accounting firm for £23m over a failed film-financing scheme

• Guy Hands in tax battle over 7ft shrimp

• Baker Tilly refused to sign off Langbar's accounts

Refco boss Bennett jailed in US for 16 years

British former chief executive of commodity broker pleads guilty to criminal charges involving cover-up of firm's finances