UK Business News

Pendragon profits tumble as new car sale slump

Used car prices fell to a five-year low and new vehicle registrations nosedived as customers deferred large purchases

Henderson's Roger Yates exits as profits slide

As the £53bn fund manager plans to move off-shore, chief goes after nine years for a year's break

• Henderson shares require faith

• Henderson warns of tough second half

RBS eyes up McFarlane to succeed Sir Tom

John McFarlane, the former ANZ Bank chief, has emerged as a front-runner to succeed Sir Tom McKillop as chairman of RBS

• Business big shot: John McFarlane

• Joining the RBS board

Diageo fears drinkers' spirits will dampen

The world's largest alcoholic drinks group says world slowdown and rising costs will hit growth next year

World Business News

Credit Agricole tops France's crunch casualties

Profits fall 75.5% after bank writes down €1.3bn, bringing its total hit from the slowing financial markets to €6.5bn

Mudd sticks as Fannie gets shake-up

Daniel Mudd remains chief executive of Fannie Mae, while Stephen Swad ousted his finance director and his head of risk

• Fannie Mae plunges to shock $2.3bn loss

• Panic as Fannie Mae and Freddie Mac dive

Sarkozy to raise tax to fund welfare plan

Critics of France's President Sarkozy say he has forsaken his tax-cutting crusade by raising the levy on investment revenue

• Sarkozy says non to tax on overtime

Heineken loses fizz through S&N acquisition

The brewer predicts rising sales for premium brand beers as prices and raw materials costs rise

• Heineken's S&N hit by consumer downturn

• InBev and Anheuser: A potent brew

Analysis

RBS paves way for changes at the top

Being an independent director of a major bank is fine when times are good. When times are bad, it's no fun at all

• Sorrell was right and that's no surprise

• M&S goes OTT

Big events in an empty capital

Media focus is on Denver's Democratic National Convention, but major decisions must be made soon in Washington about Fannie and Freddie

Tempus: Costain...Independent News & Media...Asos

Costain pre-tax profits up 26 per cent ... IN&M trades at a premium to its British rivals ... Asos continues to defy gravity

Money 

Lenders rake in millions in fees

Mortgage lenders have been accused of employing underhand moves to boost their profit margins – tripling their loan fees

• We need mortgage providers other than banks

• Lenders launch price war to lure new borrowers

It's an uphill struggle for remortgage candidates

We continue our series charting the progress of three families searching for new home loans

• How to remortgage as approvals tumble

• Councils' competitive mortgages call

Mortgage market 'to shrink by a fifth'

Analyst claims lending will fall by 20 per cent by the end of 2008, with borrowers yet to feel full impact

Law 

Barbie defeats Bratz in $100m lawsuit

Mattel, the world's biggest toy maker, has won its legal dispute against the manufacturer of the popular rival dolls

• Barbie maker Mattel lays claim to rival Bratz

• Mothers boycott ‘sexualised’ toys

Rushdie wins apology from ex-bodyguard

Claims of the Booker Prize-winning author's behaviour while under police protection were 'complete lies', a court heard

• Rushdie in court to settle libel case

• Rushdie owes it all to his Mum

Lawyers make billions but good times are ending

CBI issues bleak assessment of trading prospects in services sector after a record year for profits for corporate lawyers

business travel 

Profile: Martin Dove, Merchants

"I’ll always watch half a film and can never remember what I’ve seen," says the boss of the call centre consultancy

Business class: 30 years in review

The Times Archive gives an intriguing glimpse of the changing face of business class since the cabin was first introduced three decades ago

No such thing as a free lunch for US business travellers

United Airlines to replace free meals with snackboxes for its domestic business class passengers

• Why your airfare is different from your neighbours

• The end of laptop rage at security