Carphone Warehouse, the telecoms and broadband provider, is mulling proposals to spin off of its home phone and internet business Talk Talk, in a bid to release some of the value of the group for shareholders.

Consumer electronics giant DSG today said it planned to cut capital expenditure by around £30m this year as part of efforts to deal with deteriorating consumer confidence across Europe.

European electrical goods retailer DSG International Plc said it did not expect its markets to recover before 2010 as it posted a drop in first-quarter underlying sales and profit margins and pledged to cut more costs.

HSBC unsettled DSG International and Kesa Electricals yesterday, pouring scorn on the notion of a possible bid from Best Buy.

Carphone Warehouse has halved its predictions for the growth of its broadband business this year, blaming slowing consumer spending and the contracting housing market.

The FTSE 100 was up 25 points at 5437.8 at 12.07pm today. The Royal Bank of Scotland was the worst off on the benchmark index, down 9.35p at 196.9p, after Cazenove downgraded the stock to “underperform” from “in-line”. The broker also reduced its earning per share estimates by 12 per cent for 2009 and 24 per cent for 2010, citing higher corporate impairment.

Here are the tips for success, and the tools of the trade, to get your patch of grass into tip-top condition

Carphone sheds 11% on broadband worries w Home Retail Group hit by Homebase sales fall

DSG International, the company behind the PC World retail chain, was firm yesterday after market rumours mooted the possibility of a bid from Best Buy, the American retail giant that recently entered in to a joint venture with Carphone Warehouse.

John Browett, the new chief executive of DSG International, is to slash the company's dividend, close underperforming stores and try to improve customer service as he attempts to transform the fortunes of the Currys and PC World-owner.

Best Buy deal to 'revolutionise' European electronics retailing

The persistent strength in the price of oil, which swung past $126 per barrel yesterday, bore down on British Airways, which fell 10.25p to 228.25p.

Best Buy's 50 per cent stake in Carphone Warehouse will give the US retailer a valuable opportunity to take its electronics business global, but don't bank on a takeover. By James Moore

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