The UK’s biggest commercial radio broadcaster today said its decision to slash the number of adverts on flagship station Capital Radio contributed to a sharp fall in profits.

The FTSE 100 Index pressed on towards another four-year high today despite an exodus of investors from catering giant Compass.

A string of broker upgrades helped put the FTSE 100 Index on course to set another three-year high today.

London shares ended today in the red after a rise on Wall Street failed to offset the impact of gloomy UK economic and media sector news.

Scottish Radio Holdings told its biggest shareholder today that any takeover offer must value it at more than £350m (€509.5m).

The London market followed the lead of Wall Street today as investors went in search of cheap looking stocks.

London shares sparked into life today on the back of positive updates from two market heavyweights and takeover speculation in the logistics sector.

Airlines lifted the London market today after no-frills carrier easyJet posted record profits and the oil price started to decline.

Capital Radio, Britain’s biggest commercial radio broadcaster, has agreed to buy GWR Group for about £341 million to reduce costs and boost advertising revenue.

The FTSE 100 Index was testing the 4,600 barrier today after traders were buoyed by a strong session for shares on Wall Street last night.

Classic FM owner GWR and Capital Radio are to merge in a deal creating a company with a 36% share of the UK commercial radio audience.

The FTSE 100 Index shrank back from the 4600 barrier today as it failed to recover from the early shock of a profits warning from Unilever.

BRITISH commercial radio giants GWR and Capital Radio were yesterday reported to be in advanced merger talks.

Shares in British radio group GWR rose more than 3% today after it said it had almost doubled profits last year.

British radio group GWR announced today it had joined forces with BT Wholesale to create a new digital service which should boost its revenues by more than £5m (€7.4m) a year.

Westlife and Girls Aloud manager Louis Walsh has delivered a scathing verdict on Pop Idol winner Michelle McManus.

TODAY FM owner Scottish Radio Holdings’s Irish businesses are not performing as well as its British assets, where full year sales are expected to rise 18% for the full year.

Early hopes that the FTSE 100 Index could end the month clear of the 4200 level had evaporated by the time trading closed today – more than 66 points off its morning high.

London’s leading shares looked set for a gloomy end to the week today after surrendering early gains.

London’s FTSE 100 Index gave back early gains today as the top flight once more settled near the 4200 mark.

The FTSE 100 Index closed back in the red today, wiping out two days of moderate gains as uncertainty over the war in Iraq hit stocks.

Uncertainty over the war in Iraq remained at the forefront of traders’ thoughts as the FTSE 100 Index slipped back into the red today.

Mobile phone group mmO2 rang up a 4% gain on the London market today after strong half-year results beat analyst expectations.

A teenager was stunned today when she popped the question to singer Robbie Williams – and he said yes.

The FTSE 100 Index was up 29.1 at 5149 after an hour's trading.

The Footsie index of 100 leading stocks is ahead 12.8 points at 4708.9 at lunchtime.

A gloomy session on Wall Street is leading to early losses in the City of London as the Footsie index of 100 leading stocks struggles to continue its recent resurgence.