Waterstone’s owner HMV ditched the name of newly-acquired Ottakar’s today as it outlined plans to close bookshops and offices, which could threaten around 200 jobs.

Music store and bookshop owner HMV reported plummeting sales today as it continued to struggle to compete with supermarkets and the internet.

UK book shop chain Ottakar’s agreed to a takeover by HMV today after conceding it faced a losing battle against supermarkets and online retailers.

Book chain Ottakar’s today said it was looking to conclude takeover talks with entertainment retailer HMV “as quickly as possible” as the company reported a further sharp drop in sales.

The FTSE 100 Index sank back below the 6100 mark today as weaker financial stocks offset a boost to the mining sector from record copper prices.

The FTSE 100 Index hovered close to the break-even mark today as record copper prices fuelled a fresh round of investment in the mining sector.

The founder of Waterstone’s today confirmed he was trying to buy the book chain back for £280m (€405m) – but only if owner HMV drops its interest in rival Ottakar’s.

The British competition watchdog today defied the literary fraternity by ruling that a takeover of bookseller Ottakar’s by HMV would not harm choice or quality.

BOOKSELLER Waterstone’s Ireland saw profits fall by just over €320,000 last year.

Music and books retailer HMV was today reported to be an £800m (€1.2bn) takeover target of private equity firm Permira.

Retailers in the UK ran for cover today after a gloomy Christmas update from Waterstone’s owner HMV cast a shadow over a clutch of mid-cap firms.

Soaring internet sales took their toll on Waterstone’s owner HMV today as more shoppers in the UK opted to buy Christmas presents online rather than on the high street.

A clearer picture of the winners and losers on the high street emerged today after a busy session for corporate news.

A pre-Christmas boost for retailers helped power an upbeat performance by the FTSE 100 Index today.

Positive news for some of the UK’s biggest retailers helped the FTSE 100 Index edge further above the 5500 mark today.

HMV was today frustrated in its efforts for a quick ruling on whether its £96.4m (€142.7m) offer for Ottakar’s damages competition in the market for books.

Online retailer Amazon warned today of a sales slowdown in the run-up to Christmas as it turned the screw on high-street rivals in the UK by cutting delivery costs.

Music and books retailer HMV, which has several branches in Ireland, reported a sharp dip in summer sales today as it warned investors that there were few signs of an upturn on the high street.

The FTSE 100 Index headed back towards the 5400 mark today as oil and drugs stocks countered losses elsewhere on the market.

Oil-dependent stocks weighed on the FTSE 100 Index today following the latest rise in the cost of crude.

HMV secured crucial allies in its takeover campaign for UK book chain Ottakar’s today when independent directors of the company ditched their support for a management buyout.

The FTSE 100 Index notched its third straight session of losses today as oil heavyweights failed to benefit from the latest rise in crude prices.

Disappointment at the latest batch of company results contributed to a negative performance by the FTSE 100 Index today.

The owner of the Waterstone’s chain of bookshops today said it had gatecrashed takeover talks for UK rival Ottakar’s.

The London market witnessed a further bout of heavy selling today as the FTSE 100 Index continued to lose sight of the 5000 barrier.

Book shop chain Ottakar’s said trading remained challenging today after seeing like-for-like sales dip 1.6% in the first seven weeks of its financial year.

UK investors look set for a calmer few days next week as only a handful of companies are due to unveil results or trading updates. However, with statements due from the likes of Mothercare and Ottakar’s there could still be plenty of interest for edgy shareholders in the retail sector.

The London market ended today firmly in the black after overcoming fresh concerns about interest rates.

The London market extended its gains today as investors welcomed further signals that the Bank of England will refrain from hiking interest rates next week.

Shares in UK book shop chain Ottakar’s slumped today after it said a lacklustre Christmas season had left annual profits running below market hopes.

The London market remained in reverse gear today with ailing retailer Marks & Spencer leading the slump.

E-payments solution group Trintech today said that Ottakar, a leading UK book store, has signed up to use Trintech's ReconNet and its ExecuNET executive Reporting Suite to automate the verification of its cash banking and credit card transactions.