News

London futures are pointing downwards with city traders predicting the FTSE 100 will open 31 points lower.

Electrical retailer DSG International saw underlying pre-tax profit fall to £205.3m from £295.1m last year. "The economic backdrop continues to be difficult and the Group remains very cautious about consumer confidence in many of the markets in which it operates," it said.

The London Stock Exchange has unveiled plans to create a pan-European non-display trading platform in partnership with US investment bank Lehman Brothers. The multilateral trading facility (MTF), to be named Baikal, is for the execution of non-display orders.

Packaging maker DS Smith saw pre-tax profit rise 39% to £109m on revenue that increased 11% to £1.96bn but said the current financial year's operating performance will be affected by slowing demand and higher input costs.

Media and exhibitions group United Business Media is on track to deliver another good year, it said Thursday, with figures for the first half of 2008 set to be "modestly" ahead of market expectations.

European newspaper publisher Mecom said the market conditions are varied and the outlook uncertain but it currently anticipate earnings will be in line with expectations for the full year.

In the Press, Resolution, the investment fund run by Clive Cowdery, has so far failed to persuade Bradford & Bingley to open its books following its proposed £400m investment, with the two sides remaining locked in talks last night, reports the Independent.

Investors in Expro, the UK oil services provider, will today ask a judge for a lengthy delay in approving a £1.8billion takeover bid by a private equity consortium to try to let a rival suitor, Halliburton, the world's second-largest oilfield contractor, to bid again for the company, says the Times.