Carphone Warehouse called time on its joint venture with US giant Best Buy today after agreeing a cut-price deal to buy back the firm’s 50% stake.

“Phenomenal” demand for tablet devices drove sales at the British and Irish operations of electronic goods seller, Dixons Retail, up by 8% during the company’s third quarter, which coincided with the busy Christmas trading period.

The owner of PC World and Currys benefited from the demise of rival Comet today by reporting a bigger-than-expected surge in Christmas sales.

Uncertainty caused by tonight's US fiscal cliff deadline quashed any celebrations over a near 6% jump for the FTSE 100 Index over 2012.

The boss of Dixons Retail today said the Currys and PC World owner was poised to take advantage of the demise of rival Comet.

Around 6,500 UK retail jobs were under threat today as electricals chain Comet became the latest casualty on the high street.

Electrical goods seller Dixons Retail eliminated more than £100 million (€124m) of net debt last year, but profits were dragged down by a poor performance in mainland Europe.

London's leading shares index ended the week on a high today as fresh evidence of growth in the United States boosted traders' confidence.

Carphone Warehouse today said connections fell by more than 16% at the end of 2011 after a slump in demand for pre-pay mobile phones.

CONSUMER electronics retail group Dixons Retail — which operates the Currys, PC World and Dixons Travel brands — has reported a 5% decline in like-for-like sales for the three months up to January 7.

FALLING consumption levels led first-half losses at electrical goods retailer, Dixons Retail to widen by over £18 million (€21m).

Currys and PC World owner Dixons Retail rose above the troubles of rivals Comet and Best Buy today by posting an improved UK performance.

A gloomy forecast from the Bank of England compounded fears over the future of the eurozone and further knocked the confidence of investors today.

Struggling UK electricals chain Comet was today sold for a token £2 (€2.33) after its owner Kesa Electricals called time on the loss-making business.

The Dow Jones Industrial Average has risen by 0.3%, although it was held back by the worries over Italy.

The boss of struggling entertainment group HMV today vowed to press on with plans to overhaul its technology offering as he reported another plunge in sales over the summer.

FIRST-quarter sales at electrical goods retailer Dixons fell by 1% on a year-on-year basis, the group said yesterday, with its core Irish and British division seeing a 9% sales fall.

Fears over the health of the UK retail sector were fuelled today as a flooring firm fell into administration and confidence on the high street hit a two-year low.

Fears over the global economic climate troubled traders today as European markets fell further into the red.

Dixons Retail posted a fall in profits today as the PC World and Currys owner joined rival Comet in counting the cost of gruelling trading conditions.

London’s main market made progress despite a tough time for the retail sector after the owner of catalogue chain Argos issued a gloomy warning over high street trading.

The London market sunk deeper into the red today after further falls in commodity prices hit traders' confidence.

Retail sales in Britain unexpectedly grew last month, official figures revealed today, as department stores bucked the gloomy trend on the high street.

Struggling retailer Dixons Retail, which owns PC World and Currys, today pulled the plug on its loss-making Spanish business.

British department store Debenhams offered some cheer for shoppers today as it signalled the recent surge in cotton prices may have peaked.

Retail giant Marks & Spencer today posted a slowdown in sales in the first three months of the year but surprised the markets with unexpected overall growth.

Marks & Spencer is expected to add to the gloom on the UK high street tomorrow when the retail bellwether posts its fourth quarter trading update.

Aggreko led the FTSE 100 Index further above the 6000 level today after it was lifted by a deal to supply power to the firm that ran the crippled Fukushima power plant.

The FTSE 100 Index today rallied past the 6,000 mark for the first time in nearly a month after a report revealed the US unemployment rate fell to a two-year low in March.

The London market was kept afloat by mining giants today after the owner of Currys and PC World issued a profits warning triggering declines among retailers.

A profits warning from Currys and PC World parent Dixons Retail triggered declines for retailers today, but the news failed to drag the wider market down.

The owner of Currys and PC World issued its second profits alert in as many months today after worsening trading conditions saw sales tumble 11%.

A BUSY day of reporting from retail sector leaders revealed supermarket giant, Tesco took a hit from the harsh weather over the Christmas and New Year trading period and Dixons Retail generated a 4% year-on-year sales fall in its core UK and Ireland division.

Banking giant HSBC announced a new UK boss today as part of a management reshuffle by incoming chief executive Stuart Gulliver.

Currys and PC World parent Dixons Retail today predicted Christmas trading would be competitive and tough as it reported slowing UK sales growth.

The group behind Currys and PC World today said first quarter sales leapt 6% thanks to a World Cup boost for televisions and strong demand for Apple’s iPad.