Sainsbury's: Mike Coupe, the chief executive, said that supermarkets face two more years of pain as consumers continue to cut back on spending.
RETAILERS in Leeds city centre enjoyed their most lucrative day of the year on 'Panic Saturday' as shoppers went on the hunt for late Christmas presents.
THE Christmas shopping frenzy has produced the biggest spending spree for more than 25 years with millions scrambling to snap up bargains.
Catlin has agreed the outline of a �2.5 billion takeover by an American insurance rival, with the focus of talks moving to scrutiny of billions of dollars of premiums written by the British company.
The Bank of England isn't under pressure to raise UK interest rates as inflation slides further below its target, bank policy maker David Miles said.