UNITED KINGDOM

Women's apparel retailer Talbots Inc posted higher-than-expected quarterly operating profit on Wednesday and reiterated its full-year earnings forecast, causing the shares to rise.

Marks and Spencer (M&S) said on Tuesday that its pre-tax profit for the full year ended 29 March just exceeded £1 billion, an increase of 4.3 per cent from the previous year.

CLS Holdings said on Thursday that it had made property sales of £47.4 million in the period from 1 January to 14 May this year. The company added that the leasing market remained stable and that it had lower vacancy rates in the period.

Supermarket giant Tesco said on Wednesday that it acquired 36 Homever stores in South Korea from the E-Land Group for £958 million, including existing debt.

J Sainsbury said on Wednesday that its total retail sales for the full year to 22 March 2008 had risen 5.8 per cent to £19,287 million. The supermarket chain said that like for like sales were up 3.9 per cent.

Apple Inc. said Monday its iPhone's are currently unavailable'' from its online store in the U.S. and U.K. and did not say when it will replenish its inventory, which is fueling rumors that a new improved version of the iPhone will soon be launched.

Crude oil fell on Monday from a record over $126 a barrel as slumping crude imports from China concerned investors that recent high prices may be weighing on demand.

The FTSE 100 share index rose on Thursday following news that the Bank of England decided to keep interest rates at 5.0 per cent. The index was up 9.8 points to 6,270.8 by the end of the day (up 0.2 per cent).

Royal Mail Group said on Thursday that it had delivered robust financial results in the year ended 30 March 2008, despite many challenges.

Sterling gained marginally after the Bank of England held interest rates at 5 percent.

Gold futures ended with strong gains on Thursday as record energy costs and weakness in the U.S. dollar boosted the demand for a hedge against inflation.

Best Buy Co., the largest U.S. electronics retailer, will open its first stores in Europe by paying $2.1 billion for a 50 percent stake in Europe's largest cell phone retailer, the companies announced Thursday.

Sterling fell against the dollar yesterday with weak consumer morale output and jobs figures keeping investors focused on a sharply slowing UK economy and the prospect of further interest rate cuts.

Thames Water on Wednesday announced its plan to prevent water shortages in the future and put a stop to hosepipe bans and other water restrictions.

Sterling closed marginally higher against the dollar yesterday while the market players awaited Thursday s key Central Bank policy meetings when the European Central Bank and the Bank of England will announce the results of interest rate policy meetings.

On Tuesday the Woolf Committee published a report on BAE Systems ethical business practices. The report comes following allegations of bribery around arms deals between BAE Systems and Saudi Arabia.

Lloyds TSB said on Tuesday that it was continuing to deliver good growth in its relationship banking business despite what it called a difficult period for financial services companies.

Vodafone Plc announced on Tuesday that it has signed an agreement with Apple, Inc to sell its iPhone device in ten countries and two carriers in Italy.

Sterling witnessed a sluggish movement yesterday in the absence of any major data.

Sterling continued weak against the dollar on Friday after the release of Halifax house price survey which showed the first annual fall in property prices in around a decade boosting expectations for interest rate cuts.

Warren Buffet, the billionaire investor who heads Berkshire Hathaway Inc believes the U.S. dollar will continue to be weaker versus other currencies and was happy to invest in firms which didn't earn income in dollars.