UK Business News

Logica to close final-salary pension scheme

Logica said that it planned to close the defined-benefit scheme to new accrual from the second quarter of next year

Mitchells & Butlers ousts 'rebel' directors

Four non-executive board members have effectively been sacked in an unprecedented move by the pub and restaurant group

• M&B complains to panel over rebel shareholder

• Is it time to drink up and move on?

Former banker buys Folio Hotels

James Brent, who was head of real estate at Citibank, is launching Akkeron Hotels, and plans chain of 150 regional hotels

• Folio to be carved up in rescue plan

• Folio Hotels rescue set to secure 2,000 jobs

Radical remedy to boom and bust

Adam Pose, of MPC, proposes that capital gains tax and stamp duty be increased in line with house price inflation

World Business News

NBC Universal sale makes key breakthrough

NBC Universal entertainment group will be sold to Comcast after a deal struck by General Electric and Vivendi

Orange seeks green light for merger

Orange is understood to be about to formally detail its attempt to create a ‘super-operator’ in a tie-up with T-Mobile

• Why Apple could give new shine to Orange

• Orange gains in mobiles, loses in broadband

US car sales show signs of stabilising

Carmakers continue to rely on discounts and other incentives to sell cars and trucks such as cash for clunkers subsidies

• Car production dip lowest this year

• Ford and GM car sales in freefall

Tullow eyes $1.5bn bid for Ugandan fields

The oil explorer is considering buying out Heritage Oil, its joint venture partner in two fields, by matching an offer from Eni

Analysis

Let the board decide what to pay bankers

For months, ministers have insisted it is not the amount of bonuses that they want to control, just the structure

• M&B's bar ban makes sense

• Bringing plans down to earth

Beware the mirage of markets built on sand

From Dubai to Moscow to Shanghai, the world's financial centres stand and fall not on their losses but on their governance

Tempus: Assets help Shaftesbury fight downturn

The landlord's London portfolio is skewed towards shops and restaurants which have benefited from increased tourism

Law  

Former Morgan Crucible boss goes to top court

Retired chief executive Ian Norris, 66, is fighting attempt by the US to extradite him on charges of obstructing justice

Test case appeal is last hope for McKinnon

Businessman's battle to stop extradition to US on human rights grounds could have ramifications for computer hacker

• Government 'powerless' to stop hacker extradition

• Profile: Gary McKinnon

Peer’s plan to halt libel abuse

The leading human rights barrister is drawing up a defamation reform bil which would prevent lawyers pocketing excessive fees

Money  

Women’s guide to a happy and peaceful retirement

Relying on a husband’s pension provision can be a recipe for hardship in later life

China: Bolton’s bet for the next decade

One of the country’s top stockpickers, is launching a China fund, hailing it as the 'investment opportunity of the decade'

• Rights issue could spell windfall for Lloyds shareholders

• Have you missed the market rally?

Getting ready for a comfortable old age

We help a couple seeking more tax-efficient investments to maintain a good quality of life as they grow older

business travel  

Rail nightmare for Gatwick and Luton airport services

Industrial action and service restrictions from the £5.5bn Thameslink programme are causing headaches for business travellers

How to bag the best seat on the plane

A new seat-finding service gets our business travel editor thinking about other technology he would like to see

Heathrow's terminal 2 closes after 54 years

The old Europa Building will be demolished to make way for a 30 million passenger a year mega-terminal