What The Papers Said: A roundup of sunday business stories

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The Independent Online
Fears are growing that UK share prices could collapse if small investors in the US sell out of the New York stock market following its recent turbulence.

Richard Branson will this week launch Virgin Mobile, his mobile phone joint venture with One2One which will offer over the Internet mobiles that function in the UK and US.

British Airways is to cut by 12 per cent the number of seats available on its transatlantic flights over the next three years.

United Biscuits is to sell its frozen foods business for up to pounds 275m and has made initial approaches to food and venture capitalist groups.

Enic is to announce it is buying Victor Chandler's betting business for pounds 70m.

A top City law firm is thought to have advised Granada, the media group, that the BBC's proposed pounds 24 levy for digital television would infringe European Union rules on state aid.

WalMart is to slash pounds 30m a year off prices at its Asda supermarkets, sparking fears of a UK supermarket price war.

Rolls Royce is in talks with the US Airforce over a $4bn contract to re-engine its fleet of large transport aircraft.

Michael Grade, chief executive of First Leisure, is under fire because the company is on the shortlist to buy the Millennium Dome. Mr Grade is a non-executive director of the New Millennium Experience company, which runs the Dome.

Railtrack is thought to be scaling back its investment plans for carrying extra freight on the railway.

Greg Hutchings, boss of Tomkins, is considering taking the conglomerate private in Britain's biggest-ever management buyout.

BP Amoco is facing claims for millions of pounds after the oil company's medical research concluded it had caused at least six cases of brain cancer in former employees.

The John Lewis Partnership has been accused of censorship by staff after failing to publish letters in the in-house magazine that seek a referendum on the sale of the group.

The DTI is to probe the failure of Penthouse magazine to float on Ofex.

Alldays is in a financial crisis and is in restructuring talks led by the Royal Bank of Scotland.

Productivity in British industry is at its highest level in three years.

Britain's biggest sports Internet company, 365, is preparing for a pounds 500m flotation in the next weeks, which will make it the country's third largest quoted pure Internet company.