THE MITIE GROUP, the building and support services provider, yesterday added another chapter to its success story by posting a 30 per cent-plus profits increase for the 10th year running.

The biggest show in town last week starred 30,000 stressed-out City workers, and computer systems they all dreaded crashing

Acquisition follows collapse of talks with Tarmac

THE UK'S top fund managers have turned increasingly bearish on the economic outlook and are seeking refuge in defensive stocks, reveals a survey published by Merrill Lynch yesterday.

COMPASS, the contract catering group, continued its impressive run yesterday with a 16 per cent increase in full-year profits to pounds 159m and bullish predictions that it is well placed to withstand a downturn.

UP TO 20,000 jobs should be slashed at Shell across Europe if the oil company is to catch up with its closest peers, Exxon and British Petroleum, analysts will tell the company at an investors meeting next week.

THE BANK for International Settlements (BIS) yesterday announced it had appointed John Heimann as the first chairman of the new financial stability institute. The institute is a joint initiative by the BIS and the Basle Committe on Banking Supervision which is seen responding to needs for strengthening financial systems worldwide.

FA Cup first round: Rymans League amateurs prepare to reap rewards of playing at Deepdale

GREAT UNIVERSAL STORES, the mail order giant, has put its finance arm up for sale in a move which isexpected to raise in excess of pounds 1.2bn for the company.

LONDON STAFF at BT. Alex Brown, the investment bank, have braced themselves for swingeing job cuts next week after its parent, Bankers Trust, said it was seeking to reduce expenses by 8 per cent after declaring third-quarter losses of $488m earlier this week.

Merrill Lynch head steps aside

DESPITE THE seismic changes convulsing their company, it seemed like a normal day for the smokers at City giant Merrill Lynch yesterday.

MERRILL LYNCH, the world's largest investment bank, yesterday reported pre-tax losses of $206m (pounds 122m) in the third quarter after taking a $430m charge to cover a cost-cutting programme which will cost 3,400 jobs worldwide.

EUROPEAN FUND managers fear further market falls and believe interest rates should be cut to help ease the global crisis, according to a survey by Merrill Lynch/Gallup of Continental European fund managers.