The Labour Party unveiled its economic blueprint, pledging sound public finances and a stable monetary policy, but refusing to put a figure on plans to bring back a minimum wage. Car maker Daimler-Benz announced that the mark's strength would drive it into losses. The Chancellor hinted at tax cuts in the next Budget.
Imro's chief executive said claimed he was pressurised by his chairman into toning down criticism of the Securities and Investments Board in evidence to MPs. Allied Domecq sold Tetley Tea to a US-led management buy-in team. Asda claimed it had replaced Safeway as Britain's third largest supermarket group, after announcing profits of pounds 265m. Richard Branson became Britain's largest cinema owner, buying MGM for pounds 205m.Reuse content