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
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
SPONSORED FEATURES
Independent Dating
and  

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

iJobs Job Widget
iJobs Money & Business

SThree: Experienced Recruitment Consultant

£20000 - £40000 per annum + OTE + Incentives + Benefits: SThree: Established f...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE 40/45k + INCENTIVES + BENEFITS: SThree: The su...

Recruitment Genius: Collections Agent

£14000 - £16000 per annum: Recruitment Genius: This company was established in...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...

Day In a Page

Refugee crisis: David Cameron lowered the flag for the dead king of Saudi Arabia - will he do the same honour for little Aylan Kurdi?

Cameron lowered the flag for the dead king of Saudi Arabia...

But will he do the same honour for little Aylan Kurdi, asks Robert Fisk
Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Humanity must be at the heart of politics, says Jeremy Corbyn
Joe Biden's 'tease tour': Could the US Vice-President be testing the water for a presidential run?

Joe Biden's 'tease tour'

Could the US Vice-President be testing the water for a presidential run?
Britain's 24-hour culture: With the 'leisured society' a distant dream we're working longer and less regular hours than ever

Britain's 24-hour culture

With the 'leisured society' a distant dream we're working longer and less regular hours than ever
Diplomacy board game: Treachery is the way to win - which makes it just like the real thing

The addictive nature of Diplomacy

Bullying, betrayal, aggression – it may be just a board game, but the family that plays Diplomacy may never look at each other in the same way again
Lady Chatterley's Lover: Racy underwear for fans of DH Lawrence's equally racy tome

Fashion: Ooh, Lady Chatterley!

Take inspiration from DH Lawrence's racy tome with equally racy underwear
8 best children's clocks

Tick-tock: 8 best children's clocks

Whether you’re teaching them to tell the time or putting the finishing touches to a nursery, there’s a ticker for that
Charlie Austin: Queens Park Rangers striker says ‘If the move is not right, I’m not going’

Charlie Austin: ‘If the move is not right, I’m not going’

After hitting 18 goals in the Premier League last season, the QPR striker was the great non-deal of transfer deadline day. But he says he'd preferred another shot at promotion
Isis profits from destruction of antiquities by selling relics to dealers - and then blowing up the buildings they come from to conceal the evidence of looting

How Isis profits from destruction of antiquities

Robert Fisk on the terrorist group's manipulation of the market to increase the price of artefacts
Labour leadership: Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea

'If we lose touch we’ll end up with two decades of the Tories'

In an exclusive interview, Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea
Tunisia fears its Arab Spring could be reversed as the new regime becomes as intolerant of dissent as its predecessor

The Arab Spring reversed

Tunisian protesters fear that a new law will whitewash corrupt businessmen and officials, but they are finding that the new regime is becoming as intolerant of dissent as its predecessor
King Arthur: Legendary figure was real and lived most of his life in Strathclyde, academic claims

Academic claims King Arthur was real - and reveals where he lived

Dr Andrew Breeze says the legendary figure did exist – but was a general, not a king
Who is Oliver Bonas and how has he captured middle-class hearts?

Who is Oliver Bonas?

It's the first high-street store to pay its staff the living wage, and it saw out the recession in style
Earth has 'lost more than half its trees' since humans first started cutting them down

Axe-wielding Man fells half the world’s trees – leaving us just 422 each

However, the number of trees may be eight times higher than previously thought
60 years of Scalextric: Model cars are now stuffed with as much tech as real ones

60 years of Scalextric

Model cars are now stuffed with as much tech as real ones