http://www.teletext.co.uk/finance/city-news/default.aspxen-gbMon, 8 Sep 2008 17:39:17 GMThttp://www.teletext.co.uk/images/Logo64x64.gifhttp://www.teletext.co.ukThe FTSE 100 closed up 3.92% at 5446.3 after trading on the London Stock Exchange was suspended for most of the session following a computer crash.<img src="http://feeds.teletext.co.uk/~r/news/finance/city-news/~4/386795965" height="1" width="1"/>
Links between traders and the exchange were severed from about 9am until 4pm because of a "connectivity issue".

The glitch left traders unable to cash in on a worldwide stock market boom after the US government bail-out of loan giants Fannie Mae and Freddie Mac.

]]>b60d6b5defec8617d51ee2d07244e562http://feeds.teletext.co.uk/~r/news/finance/city-news/~3/386795965/FTSE+up+4+despite+glitch.aspxhttp://www.teletext.co.uk/finance/city-news/b60d6b5defec8617d51ee2d07244e562/FTSE+up+4+despite+glitch.aspxhttp://www.teletext.co.uk/finance/city-news/b60d6b5defec8617d51ee2d07244e562/FTSE+up+4+despite+glitch.aspxThe UK&#39;s biggest building society Nationwide has agreed merger deals with smaller rival mutuals Derbyshire and Cheshire building societies.<img src="http://feeds.teletext.co.uk/~r/news/finance/city-news/~4/386449096" height="1" width="1"/>
The tie-ups will create a combined business with retail deposits of £122bn and assets of more than £191bn.

Nationwide intends to retain the firms' brands and branch networks but said it will not be making any special payments to members of the two societies.

]]>c3822db8df6ddaa47812b04c568a77c6http://feeds.teletext.co.uk/~r/news/finance/city-news/~3/386449096/Nationwide's+merger+deals.aspxhttp://www.teletext.co.uk/finance/city-news/c3822db8df6ddaa47812b04c568a77c6/Nationwide's+merger+deals.aspxhttp://www.teletext.co.uk/finance/city-news/c3822db8df6ddaa47812b04c568a77c6/Nationwide's+merger+deals.aspxUK manufacturing output prices have seen their biggest-ever monthly fall - sparking hopes that inflation pressures in the economy may be easing.<img src="http://feeds.teletext.co.uk/~r/news/finance/city-news/~4/386497140" height="1" width="1"/>
The Office for National Statistics said output prices dropped 0.6% in August, taking the annual rate of increase to 9.7% from 10.3% a month earlier.

Manufacturers' costs also fell by more than expected, down 2% during the month due to lower oil and metals prices.

]]>166a29bd262f4b23cc20c50176a3058dhttp://feeds.teletext.co.uk/~r/news/finance/city-news/~3/386497140/Factory-gate+prices+fall.aspxhttp://www.teletext.co.uk/finance/city-news/166a29bd262f4b23cc20c50176a3058d/Factory-gate+prices+fall.aspxhttp://www.teletext.co.uk/finance/city-news/166a29bd262f4b23cc20c50176a3058d/Factory-gate+prices+fall.aspxShares in the US have risen strongly as investors on Wall Street welcomed news of a government bail-out for mortgage companies Fannie Mae and Freddie Mac.<img src="http://feeds.teletext.co.uk/~r/news/finance/city-news/~4/386701576" height="1" width="1"/>
The Dow Jones jumped more than 2% and the gains followed similar rallies across Far East and European markets.

The US government said it took action to support the ailing companies due to fears their potential collapse could lead to wider economic turmoil.

]]>7c8422d1952629d70e3d2dfe0a6f5b43http://feeds.teletext.co.uk/~r/news/finance/city-news/~3/386701576/Bail-out+lifts+US+shares.aspxhttp://www.teletext.co.uk/finance/city-news/7c8422d1952629d70e3d2dfe0a6f5b43/Bail-out+lifts+US+shares.aspxhttp://www.teletext.co.uk/finance/city-news/7c8422d1952629d70e3d2dfe0a6f5b43/Bail-out+lifts+US+shares.aspxGrowth at discount clothing retailer Primark will help offset falling sugar profits and debt costs, owner Associated British Foods has said.<img src="http://feeds.teletext.co.uk/~r/news/finance/city-news/~4/386427119" height="1" width="1"/>
The firm is anticipating higher annual operating profits with Primark enjoying like-for-like second-half sales growth of 2% and the launch of eight stores.

But AB Foods warned it will be squeezed by debt from acquisitions and low sugar prices due to a bumper Chinese crop.

]]>15a433e091a23579a36a24a440798fd0http://feeds.teletext.co.uk/~r/news/finance/city-news/~3/386427119/Primark+buoys+AB+Foods.aspxhttp://www.teletext.co.uk/finance/city-news/15a433e091a23579a36a24a440798fd0/Primark+buoys+AB+Foods.aspxhttp://www.teletext.co.uk/finance/city-news/15a433e091a23579a36a24a440798fd0/Primark+buoys+AB+Foods.aspxAB Foods has warned investors its net debt will be "substantially higher" than last year.<img src="http://feeds.teletext.co.uk/~r/news/finance/city-news/~4/386607068" height="1" width="1"/>
The Primark owner said it had increased borrowing to finance investment in existing businesses and to cover increased commodity costs.

The firm added it had recovered higher food costs through price increases in its grocery division, but high energy prices remained an issue.

]]>06fdbf538e26c2e897ae1f60fcc58b99http://feeds.teletext.co.uk/~r/news/finance/city-news/~3/386607068/AB+Foods+debts+warning.aspxhttp://www.teletext.co.uk/finance/city-news/06fdbf538e26c2e897ae1f60fcc58b99/AB+Foods+debts+warning.aspxhttp://www.teletext.co.uk/finance/city-news/06fdbf538e26c2e897ae1f60fcc58b99/AB+Foods+debts+warning.aspxPrimark has opened eight new stores during its second half, including five outlets in Spain.<img src="http://feeds.teletext.co.uk/~r/news/finance/city-news/~4/386808907" height="1" width="1"/>
The firm's UK expansion is supported by the launch of a new distribution centre in Thrapston, Northamptonshire, which will boost UK capacity by 50%.

Investec Securities said the AB Foods statement was "cautiously positive" but said the falling value of sterling may dent profits. Shares rose 4½p to 794½p.

]]>f343e6ef731bd79fb751d1e28813026chttp://feeds.teletext.co.uk/~r/news/finance/city-news/~3/386808907/Primark+store+expansion.aspxhttp://www.teletext.co.uk/finance/city-news/f343e6ef731bd79fb751d1e28813026c/Primark+store+expansion.aspxhttp://www.teletext.co.uk/finance/city-news/f343e6ef731bd79fb751d1e28813026c/Primark+store+expansion.aspxMarlboro cigarette owner Altria has agreed an $11.7bn (&#163;6.63bn) deal to buy US smokeless tobacco company UST.<img src="http://feeds.teletext.co.uk/~r/news/finance/city-news/~4/386675951" height="1" width="1"/>
The deal will see Altria add chewing tobacco brands such as Skoal and Copenhagen to its portfolio, which also includes Chesterfields cigarettes.

The buyout will see Altria become the US's biggest smokeless tobacco producer as it seeks to offset falling cigarette sales in America.

]]>5b4142ee788a6f27d7e96147edb167cbhttp://feeds.teletext.co.uk/~r/news/finance/city-news/~3/386675951/Altria+smokeless+buyout.aspxhttp://www.teletext.co.uk/finance/city-news/5b4142ee788a6f27d7e96147edb167cb/Altria+smokeless+buyout.aspxhttp://www.teletext.co.uk/finance/city-news/5b4142ee788a6f27d7e96147edb167cb/Altria+smokeless+buyout.aspxAirline Flybe has reported a 14% rise in first-quarter profits after fuel hedging protected it from rising costs.<img src="http://feeds.teletext.co.uk/~r/news/finance/city-news/~4/386427121" height="1" width="1"/>
The regional carrier said its fuel- efficient fleet and a lower dependence on leisure travel had also helped it weather recent spikes in oil prices.

Flybe, which aims 80% of its capacity at business and regular travellers, achieved pre-tax profit of £12.2m in the three months to June 30.

]]>ec8877fb9e285b24882c9eca098ce3e9http://feeds.teletext.co.uk/~r/news/finance/city-news/~3/386427121/Flybe+in+14+profit+rise.aspxhttp://www.teletext.co.uk/finance/city-news/ec8877fb9e285b24882c9eca098ce3e9/Flybe+in+14+profit+rise.aspxhttp://www.teletext.co.uk/finance/city-news/ec8877fb9e285b24882c9eca098ce3e9/Flybe+in+14+profit+rise.aspx