Carphone Warehouse said it would consider buying out the stake in its European joint venture that is held by America's Best Buy if a bid for its United States partner succeeds.

This holiday season is turning into a battle among tech giants for the hand-held computer that every tech geek, executive, student and child will be carrying around next year.

With US retail giant Best Buy being targeted by its founder, the talk in the Square Mile yesterday was focused on what could lie ahead for its British partner Carphone Warehouse if a deal goes ahead.

Best Buy boss Brian Dunn has resigned abruptly after the troubled consumer electronics chain launched an internal investigation into his "personal conduct".

Dunn by name...

1. Villaware FPVLFPSL01

Kiddicare, the online baby products retailer acquired by Morrisons last year for £70m, has bought the 10 shops exited by the electricals retailer Best Buy UK this month.

Best Buy will start closing down its UK stores on Sunday after throwing in the towel in its battle to shake up the UK electronics market.

Morrisons laid bare the extent of subdued trading in the grocery sector yesterday, unveiling festive sales growth below expectations as it warned of another "tough year" ahead. The supermarket boasted of "outperforming" the sector as recently as November, but yesterday said that sales growth was only "in line with the market".

Panmure seeks sale to Cenkos

The Independent on Sunday: Business leaders expect economy to worsen

Terry Kirby selects the best bottles to buy

The competition watchdog has given the UK's troubled electricals sector a pre-Christmas boost by unveiling plans to ditch a 13-year-old regulation that prevents suppliers of products such as TVs or washing machines from recommending resale prices to retailers and wholesalers.

The chief executive of Dixons Retail has launched a scathing attack on the failed launch in this country of the US electricals giant Best Buy.