Argos is hit by spending drop
Argos and Homebase owner Home Retail Group today warned of retreating sales at both chains today amid the growing squeeze on consumer spending.
The latest warning over the tough retailing conditions came as the company said Homebase made a "weaker than expected'' start to the new financial year after poor weather in March and April, although Argos is trading in line with expectations.
It added: "A more difficult consumer environment is likely to result."

House prices slide again
House prices have fallen by 1% during the past 12 months, the first year-on-year fall since 1996, figures showed today.
The cost of a home dropped for the sixth month in a row during April, sliding by 1.1%, as the credit crunch continued to take its toll on the property market.
The fall helped turn annual house price growth negative for the first time in 12 years.

BSkyB expects 10m viewers
BSkyB today said its target of 10 million customers in 2010 remained in view after adding 56,000 customers in the first three months of this year.
The broadcaster reported customer numbers of 8.9 million at the end of March and said loyalty improved after a churn rate of 10.5% proved to be the best figure for the third quarter of the financial year in four years. It said operating profits were down.

RBS cuts lending rates
Royal Bank of Scotland fixed and tracker rate mortgages are being slashed by up to 0.3% today.
The change is being made to boost the bank's market share. It means all fixed rate and tracker mortgages taken out directly with RBS and NatWest will be reduced by between 0.1% and 0.3%.
Similar changes to home loans taken through brokers will be announced shortly.

Oil profits rise
Oil and gas explorer BG Group became the latest beneficiary of soaring prices today after unveiling first-quarter profits of £1.4bn.
The 70% hike was due to "higher commodity prices'' and increased production in an "excellent start'' to 2008.

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