House prices are set to stagnate this year despite the influence of the Bank of England's Funding for Lending scheme, lender Halifax said yesterday. Despite a surprise monthly rise of 1.3 per cent in December, house prices are 0.3 per cent down on 2011 and likely to remain "broadly flat" in 2013 after a year that "lacked... real direction".

Christmas boom for budget rivals

Budget airlines easyJet and Ryanair increased passenger numbers over the Christmas period as customers snapped up low-cost flights. EasyJet reported a 4.9 per cent rise in the number of seats booked on its flights at 4.3 million in December, while Ryanair grew passenger numbers by 2 per cent.

Nichols sales fizz despite the rain

The Vimto and Sunkist soft-drinks maker Nichols saw its shares fizz up yesterday after it said it would beat City forecasts despite last year's dire weather. Sales increased by 9 per cent to £108m in 2012, well ahead of the overall growth in the UK soft-drinks market of just 3.6 per cent, driven by Vimto and Sunkist.

More roadworks on the way for M25

Balfour Beatty has been awarded a £321m contract to upgrade parts of the M25. The construction group will increase capacity on 28 miles of the motorway by converting sections of hard shoulder into a traffic lane with variable speed limits. Works takes place between junctions five and seven and 23 and 27.

Stricken Shell rig towed to safety

A recovery team has refloated the Shell oil-drilling rig that ran aground last week near an Alaskan island and began towing it yesterday towards a more sheltered position 30 miles away. The saucer-shaped Kulluk drillship was refloated overnight, although winter weather in the area remains a challenge.