The updated figures from the Office for National Statistics showed that the UK's dominant services sector, which accounts for three quarters of national output, drove the recovery - growing 0.6pc over the three months.

Thursday 10.30 BST. Global stocks are in sharp retreat, led by a savage plunge in Tokyo, as traders are spooked by the prospect of reduced central bank support and a slowing Chinese economy.

China's manufacturing is contracting in May for the first time in seven months, adding to signs that economic growth is losing steam for a second quarter.

Flybe has announced the sale of all its take-off and landing slots at London Gatwick airport to Easyjet for �20m. The sale is part of a cost-cutting programme for the airline.

Ford is to cease production in Australia by 2016 and cut about 1,200 jobs - almost half its local workforce - after concluding the business case for producing vehicles locally �did not stack up�.

Thu May 23, 2013 6:21am EDT. * Sees margin improvement of 20-50 basis points this year. * EPS 238.7 U.S. cents vs 239 Thomson Reuters forecast.

Halfords Group Plc (HFD), the U.K.'s biggest seller of bicycles, fell the most ever after announcing a surprise dividend reduction to boost investment in training workers, revamping stores and improving its Web business.

Mothercare posted another big loss in the last financial year, but the UK retailer said it was making good progress with its turnaround plan.

By Richard Hubbard. LONDON | Thu May 23, 2013 6:20am EDT. LONDON (Reuters) - Share markets fell sharply on Thursday as investors piled back into safer assets, unnerved by the twin setbacks of unexpected weakness in China's economy and signals ...

Dairy Crest lifts full year profit LONDON (SHARECAST) - Cathedral City cheese maker Dairy Crest revealed improved full year adjusted pre-tax profit and said trading in the current year is in line with expectations.