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The end of Woolies?

Ardeshir Naghshineh, the commercial property investor who owns a 10 per cent stake in Woolworths, is thought to be in talks with another entrepreneur to make a joint bid to buy the high-street chain.

Government agrees Alitalia sale
The Italian government agrees to sell the bankrupt airline Alitalia to a business consortium, paving the way for a relaunch.
Is this the end of the mega bonus?

With banks going into the remuneration-setting period for 2009, having a chief executive forgoing their bonus seems to be the new black for this year's Christmas party season. But banks and other City institutions will continue to try paying bonuses to their other staff and management, although they should not expect much next year.

Microsoft hope as Yahoo's Yang steps down

Yahoo said Jerry Yang will step down as chief executive as soon as the board finds a replacement, sending shares up 4 per cent on hopes the departure would clear the way for a deal with Microsoft.

David Prosser: Barclays board wins a stay of execution

Outlook It used to be the Midland that claimed to be the listening bank. Now Barclays is laying claim to the slogan, yesterday unveiling a package of concessions it hopes will be sufficient to appease institutional shareholders that have threatened to derail its Middle Eastern fund raising.

New Star renegotiates loans and axes jobs as billions wiped off asset values

New Star Asset Management, the group that became famous for making its secretaries millionaires when it listed, has renegotiated the terms of its loans and is preparing to slash £20m of costs, as it blamed the economic crisis for a disappointing quarterly performance.

Microsoft ends Yahoo buyout talks
Microsoft's boss tells the firm's annual general meeting that it is no longer looking to buy Yahoo.
T-Mobile boss warns that cheaper SIM-only deals will rise

Sales of SIM card only mobile phone price plans are set to surge in the coming year as customers postpone upgrading, Jim Hyde, the UK chief executive of T-Mobile, has warned.

US car companies seek $25bn aid
The bosses of the three biggest US carmakers, Ford, GM and Chrysler ask Congress for a $25bn bail-out.
Pound sinks to record low against the euro

In July,£1 would still buy $2; lower than its recent record of $2.11 set last November, but healthy enough for shopping trips to New York to make sense. Yesterday, sterling was trading at about $1.48, a six-year low. Macy's and Sachs of Fifth Avenue may soon notice a sharp decline in the number of British accents at the tills.

Big 3 fail to close deal on bailout
... Richard Simon November 20, 2008 Reporting from Washington -- Embattled U.S. automakers added a new ... to be trimming down and streamlining their businesses," said Rep. Gary L. Ackerman (D-N.Y.) "There's ...
Rolls-Royce plans 2,000 job cuts
Aircraft engine maker Rolls-Royce says it plans to cut up to 2,000 jobs in 2009, including 140 in the UK.
Dow plunges below 8,000 to five-year low

Renewed turmoil on the world's debt markets signalled the credit crisis is far from over, and sent share prices plunging on both sides of the Atlantic.

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