Britain's uncoordinated, underfunded approach to transport policy is ba d for business

The FT-SE 100 index closed 4.3 points lower at 2,991.6, and the supporting FT-SE 250 index lost 11.9 to close at 3,370.4. Volume was 558.4 million shares with 18,083 bargains. Government stocks were firm.

By any standards this was a bizarre dinner party. The hosts were the President, finance and energy ministers of Kazakhstan, the venue a slightly down-at-heel three-star hotel in the Swiss ski resort of Davos. The dinner was part of the World Econo mic Forum, Europe's primary "networking" conference for business, political and academic leaders.

Paul Vallely reveals what is on offer at the top international gatherin gs

Rulers, thinkers and financiers have spent the weekend at a Swiss ski r esort. Their ruminations will shape our lives

Plans to phase out the use of veal crates throughout Europe are being prepared by the European Commission, writes Geoffrey Lean from Davos.

Kenneth Clarke, the Chancellor of the Exchequer, was yesterday involved in a brisk and confrontational exchange of views with George Soros, the international speculator most associated with trashing the pound during the exchange rate mechanism cr isis in1992.

A MEETING of the Group of Seven called to discuss the deteriorating Russian economy threatens to be overshadowed by US Treasury irritation at the Bundesbank's recent refusal to cut interest rates again, writes Peter Torday.

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THE CONFEDERATION of British Industry yesterday launched an attack on the Government's lack of a coherent industrial policy and called on the Prime Minister to publish a White Paper setting out its attitude towards manufacturing.

THE BANK of England would find it difficult to obtain statutory changes giving it full independence, except under stage three of European economic and monetary union, the Governor, Robin Leigh-Pemberton, said yesterday at the World Economic Forum. But he added that he saw the Bank generating a greater degree of authority in the months ahead under its present statutory position.