MAJOR retailers delivered a surprise boost to the markets yesterday by reporting better than expected Christmas sales figures.

TESCO said it makes sense to temper its stores policy in Ireland given that the country is facing a big slowdown.

Shares in Woolworths rose sharply today as investors awaited Iceland founder Malcolm Walker’s next move in his pursuit of the group’s retail arm.

Woolworths caused a surprise today by ending chief executive Trevor Bish-Jones’ six-year run in one of the high street’s toughest jobs.

The shockwaves resounding around world markets may have seen a host of corporate deals shelved, but the turmoil could yet be decisive in the outcome of the world’s biggest banking takeover.

Royal Bank of Scotland turned up the heat on rival Barclays after today sweetening the terms of its £48.2 bn (€71bn) offer for Dutch bank ABN Amro.

Aircraft manufacturer Airbus boosted its flagging spirits this week after unveiling record orders at the Paris air show.

A consortium headed by Royal Bank of Scotland is likely to announce details of a takeover offer worth £49bn (€66bn) for Dutch bank ABN Amro tomorrow.

Barclays’ rivals in the battle for ABN Amro today said they would reveal their hand over a potential counter-bid for the Dutch bank on Tuesday.

The takeover rumour mill is working overtime in Europe’s airline industry as the major players begin to jostle for top spot in a sector that is expected to see consolidation like never before.

British households are braced for a further squeeze on finances this year as wage settlements look set to disappoint despite the rising cost of living.

Catalogue and internet sales came to the rescue of Next today after the fashion chain endured a worse-than-expected time on the high street.