Business News Headlines

New slump in supermarket stocks hits FTSE

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LONDON - Britain's top equity index fell to its lowest level in nearly two months on Wednesday, as a new slump in the shares of supermarket retailers hit the market.

FXpert 11:25am BST

UK manufacturing PMI hits 17-month low in September - Markit/CIPS

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LONDON, - British manufacturing grew at the slowest rate in 17 months in September as demand weakened at home and in Europe, a slowdown likely to be noticed by the Bank of England as it debates when to start raising interest rates.

9:36am BST

British financial watchdog to investigate Tesco accounting scandal

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LONDON - Britain's financial watchdog has launched a full investigation into the Tesco accounting scandal that has now wiped 4 billion pounds from the troubled grocer's stock market value.

11:34am BST

Bank of England eases curb on risky mortgages as house market cools

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LONDON - The Bank of England has eased a curb on risky mortgages that are large relative to a borrower's income, amid signs that Britain's housing market has begun to cool.

12:58pm BST

UK productivity fails to pick up in second quarter - ONS

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LONDON - British workers' productivity failed to pick up in the second quarter of this year despite strong economic growth, though stagnant wages kept a related measure of inflation pressures in check, official data showed on Wednesday.

UK 10:11am BST

Special report: In foreign hands, British automakers overtake France

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LONDON/PARIS - When Britain lost its last native car company 20 years ago, it was lamented across the political spectrum as a national catastrophe.

12:45pm BST

UK's Sainsbury's cuts full-year sales forecast after trading worsens

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LONDON - Britain's J Sainsbury cut its full-year sales forecast and said it would assess its dividend policy as part of a strategic review after second-quarter sales fell sharply, adding to the turmoil in the grocery market.

9:15am BST

SocGen says 'nothing to expect' soon on U.S. sanctions probe

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PARIS - Societe Generale said it plans to finish an internal investigation into dollar transfers made on behalf of entities based in countries subject to U.S. sanctions, linked to talks with the U.S. Office of Foreign Assets Control, by the end of next year.

12:36pm BST

Liechtenstein prosecutor confirms Corpbank owner under investigation

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ZURICH - Liechtenstein authorities have confirmed that they are investigating the businessman at the centre of the crisis that has engulfed Bulgaria's fourth-biggest bank, citing suspicions of money laundering.

12:47pm BST

Strike-scarred Air France-KLM may need strategy rethink

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PARIS - (This version of the story has been corrected to change cost comparisons in paragraphs seven and eight to euro cents, and not euros)

1:13pm BST