Money news

Inflation leaps to 3 percent in April
Soaring food and fuel bills sent inflation rocketing in April, putting the prospect of interest rate cuts soon in real doubt despite further signs the housing market downturn is getting nasty. Housing downturn gathers pace
House prices suffered their most widespread decline across Britain for 30 years and retail sales fell for a second consecutive month in April, surveys showed on Tuesday, in a sign the economic slowdown is worsening. A&L takes 192 mln pound hit and shares fall
Alliance & Leicester took a 192 million pound hit to profit on Tuesday from toxic assets, as analysts warned that sum could all but wipe out first-half profit and prompt a dividend cut. HP strikes deal to buy EDS
NEW YORK (Reuters) - Hewlett-Packard <HPQ.N> will buy Electronic Data Systems <EDS.N> for $25.00 per share, the two companies said on Tuesday, or about $12.6 billion (6.5 billion pounds) to better compete against IBM <IBM.N>. Asda shows strong growth
Wal-Mart Stores <WMT.N> said on Tuesday Asda had delivered a strong first quarter thanks to an increase in customer traffic driven by lower prices and discount campaigns. C.Agricole cash call as Europe's banks bleed again
French bank Credit Agricole joined the growing list of lenders asking shareholders for billions of euros in extra cash while a trio of other European banks also revealed new scars from the credit crunch on Tuesday. FTSE down on inflation fears and A&L writedowns
The blue-chip shares reversed early gains to drop by more than 1 percent by midday on Tuesday, as surging inflation data cast shadows over the economic outlook and credit-related writedowns hit Alliance & Leicester. BT agrees 5-year wholesale deal with O2
The wholesale division of BT Group <BT.L> has signed a five-year agreement with O2 to provide and help manage the operator's high speed network as an increasing number of customers take bandwidth-hungry offerings. Enodis says adjusted pretax profit up 6 percent
Food equipment maker Enodis <ENO.L>, which has agreed Illinois Tool Works's <ITW.N> 1.03 billion pounds bid, posted a 6 percent rise in first-half underlying profit on Tuesday. Terra Firma set to cut more EMI jobs
Terra Firma, the private equity owner of EMI, plans to cut more jobs at the music company, a source familiar with the situation said on Tuesday.

• UK economy grows faster than expected
• US jobless numbers increase sharply
• Rising food prices send inflation surging to 3%
• Hard-up consumers 'still need a holiday'
• Darling announces £2.7bn tax cut
• Minister's housing market fears exposed
• US has not felt this bad since Watergate
• Pension scheme buy-outs set to rise
• Scandal of a hidden tax rule that punishes wido...
• Ministers look at social care insurance as cost...

• Spanish property: the fiesta's over
• Fuel: What price the diesel car now?
• 'I welcome the crunch: it's shut off the easy loans that destroy lives'
• It's not easy, but try to feel a teensy weensy bit sorry for estate agents
• 'I welcome the crunch: it's shut off the easy loans that destroy lives'
• Touts score £10m off finals fans
• Builders' website takes revenge on customers
• RIM's new BlackBerry Bold targets business market
• Centrica sees lower operating profit
• Best way to travel is on a credit card

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