Around 400 jobs at clothing retailer Kookai were safeguarded tonight after the founders of the Oasis fashion empire bought a string of Kookai’s UK stores from administrators.

The crisis at Marks & Spencer claimed a string of top management jobs today as the embattled retailer revealed trading had become even more difficult.

London’s FTSE 100 Index continued its uncertain streak today as investors stayed on the sidelines ahead of firmer signals on the economy.

Supermarket group Sainsbury’s today announced the boss of Marks and Spencer‘s food department as successor to chief executive Sir Peter Davis.