Business and City in Brief

Credit Lyonnais to close offices

Credit Lyonnais, the French bank, has abandoned ambitions to expand in retail banking in Britain and is closing its two branches in London with the loss of about 60 jobs. The bank said it was concentrating on corporate banking, corporate finance, capital markets and international private banking. Ambitions to buy a building society or other retail outlet have been dropped.

Record cash levels

The liquid assets of large non- manufacturing companies were at their highest level for more than 15 years in June, the Central Statistical Office said. For large companies overall, liquidity was at a 10-year high.

Lucas contract

Lucas Industries has won a pounds 20m contract to supply brake components to Ford's plant in South Wales. Part of the contract is to provide parts for a new model Ford plans to put into production in mid-1995.

Cold shoulder

The mining group RTZ and Hanson, the Anglo-US conglomerate, have shunned the privatisation of British Coal. Bids for the five regions close today and there is now unlikely to be a big international mining group in the final tendering stage.

Pit strategy, page 26

Airports record

August was the busiest month on record for BAA. The airports authority handled a total of 9.2 million passengers, a 6.4 per cent increase on the same month last year. Heathrow handled just over 5 million passengers, 7.2 per cent up. Gatwick's traffic grew by 3.3 per cent while Stansted saw numbers increase by 13.4 per cent.

Talks revived

Rolls-Royce is resuming negotiations over a power station contract in Malaysia following the lifting of the trade ban on British firms. The company said talks were also resuming on the formation of a joint venture with a private Malaysian company, Electric Power Corporation.

Bank staff claim

Bifu, the banking and finance union, said Barclays had admitted it was experiencing staff shortages in in London and the South-east less than three months after sacking 400 people.

Honda jobs plan

Honda said it planned to create 2,000 new jobs in Britain over the next five years. Some 500 workers will be taken on at the Swindon plant with the rest of the vacancies at component suppliers throughout the country.

Milk review sought

The Dairy Trade Federation, representing most milk processors, yesterday applied for a judicial review of the new system for supplying milk in an effort to force the Government to introduce proper controls in the soon to be deregulated milk market.

New York: Better-than-expected consumer prices figures helped stocks regain some lost ground. The Dow Jones Average closed 19.52 points higher at 3,879.86.

Tokyo: Index-linked buying lifted the Nikkei average 128.83 points to 20,046.11 in thin trade.

Hong Kong: Cautious trading took the Hang Seng index up 46.64 points to 9,937.01.

Sydney: Strong performances from BHP and News Corporation led the All Ordinaries index 10.8 points higher to 2,043.6.

Bombay: After touching a new peak the index fell back to end 29.15 in arrears at 4,599.42.

Johannesburg: A steady gold price failed to provide any impetus as the overall index surrendered 24 points to 5,859.

Paris: Recovering from early falls on the back of an improvement in bond futures, the CAC- 40 ended 2.57 easier at 1,969.36.

Frankfurt: Quiet trade saw the DAX index slip 18.52 to 2,136.09.

Zurich: Encouraged by the US consumer price figures, the SPI advanced 9.5 points to 1,751.88.

London: Report, page 26.

Start your day with The Independent, sign up for daily news emails
PROMOTED VIDEO
ebooks
ebooksA special investigation by Andy McSmith
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Software Development Manager

£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...

Ashdown Group: Product Manager - (Product Marketing, Financial Services)

£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...

Recruitment Genius: Compliance Assistant

£13000 per annum: Recruitment Genius: This Pension Specialist was established ...

Ashdown Group: Market Research Executive

£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...

Day In a Page

As in 1942, Germany must show restraint over Greece

As in 1942, Germany must show restraint over Greece

Mussolini tried to warn his ally of the danger of bringing the country to its knees. So should we, says Patrick Cockburn
Britain's widening poverty gap should be causing outrage at the start of the election campaign

The short stroll that should be our walk of shame

Courting the global elite has failed to benefit Britain, as the vast disparity in wealth on display in the capital shows
Homeless Veterans appeal: The rise of the working poor: when having a job cannot prevent poverty

Homeless Veterans appeal

The rise of the working poor: when having a job cannot prevent poverty
Prince Charles the saviour of the nation? A new book highlights concerns about how political he will be when he eventually becomes king

Prince Charles the saviour of the nation?

A new book highlights concerns about how political he will be when he eventually becomes king
How books can defeat Isis: Patrick Cockburn was able to update his agenda-setting 'The Rise of Islamic State' while under attack in Baghdad

How books can defeat Isis

Patrick Cockburn was able to update his agenda-setting 'The Rise of Islamic State' while under attack in Baghdad
Judith Hackitt: The myths of elf 'n' safety

Judith Hackitt: The myths of elf 'n' safety

She may be in charge of minimising our risks of injury, but the chair of the Health and Safety Executive still wants children to be able to hurt themselves
The open loathing between Barack Obama and Benjamin Netanyahu just got worse

The open loathing between Obama and Netanyahu just got worse

The Israeli PM's relationship with the Obama has always been chilly, but going over the President's head on Iran will do him no favours, says Rupert Cornwell
French chefs get 'le huff' as nation slips down global cuisine rankings

French chefs get 'le huff' as nation slips down global cuisine rankings

Fury at British best restaurants survey sees French magazine produce a rival list
Star choreographer Matthew Bourne gives young carers a chance to perform at Sadler's Wells

Young carers to make dance debut

What happened when superstar choreographer Matthew Bourne encouraged 27 teenage carers to think about themselves for once?
Design Council's 70th anniversary: Four of the most intriguing prototypes from Ones to Watch

Design Council's 70th anniversary

Four of the most intriguing prototypes from Ones to Watch
Dame Harriet Walter: The actress on learning what it is to age, plastic surgery, and her unease at being honoured by the establishment

Dame Harriet Walter interview

The actress on learning what it is to age, plastic surgery, and her unease at being honoured by the establishment
Art should not be a slave to the ideas driving it

Art should not be a slave to the ideas driving it

Critics of Tom Stoppard's new play seem to agree that cerebral can never trump character, says DJ Taylor
Bill Granger recipes: Our chef's winter salads will make you feel energised through February

Bill Granger's winter salads

Salads aren't just a bit on the side, says our chef - their crunch, colour and natural goodness are perfect for a midwinter pick-me-up
England vs Wales: Cool head George Ford ready to put out dragon fire

George Ford: Cool head ready to put out dragon fire

No 10’s calmness under pressure will be key for England in Cardiff
Michael Calvin: Time for Old Firm to put aside bigotry and forge new links

Michael Calvin's Last Word

Time for Old Firm to put aside bigotry and forge new links