Welcome to today's round-up of business news from The Times: what we're saying, what they're saying

Top stories

The Times: Business leaders accused Alistair Darling, the Chancellor, of talking Britain into a recession as the pound fell to a record low.

The Times: Google will today launch its own web browser called Google Chrome as the search giant takes on Microsoft’s Internet Explorer.

Daily Telegraph: Sir Richard Branson, the Virgin tycoon, is putting together a £2 billion ($3.6 billion) bid for Gatwick Airport , Britain’s second largest.

Comment

Gerard Baker in The Times: There's something puzzlingly consistent about stocks sliding in September and as this month begins, the omens are not good .

Damian Reece in the Daily Telegraph: Sir Richard Branson will need partners with deep pockets if he is to snare Gatwick Airport.

Lex in the Financial Times: Times are hard for hedge funds as they are forced to abandon the level of gearing that they are used to.

Upside

Reuters: Oil futures fell almost 4 per cent as Hurricane Gustav was downgraded before it hit US oil production sites in the Gulf of Mexico.

Daily Telegraph: London Stock Exchange has cut fees for algorithmic , or black box, trading to keep up with its new competitor Turquoise.

The Times: Quiet Revolution will produce thousands of innovative urban windmills in South Wales after a £6 million ($10.8 million) investment by RWE, the German utility.

Downside

The Times: British banks soon could be scrambling for short-term funding again as supplies from central banks dry up.

The Times: Property developers offering homebuyers cash and other perks will have to give mortgage lenders full details in a crack down on mortgage fraud.

Daily Telegraph: Security costs and the Terminal 5 fiasco saw half-yearly profit at BAA's seven airports halve to €179 million (£145 million, $260 million).

Mergers and shakers

The Times: Private equity firms bidding for Informa, the events and exhibitions group, are close to securing financing for the £3 billion ($5.4 billion) buy.

The Times: Ryanair, Europe's largest airline, will revive its €1 billion (£800 million, $1.4 billion) bid for Aer Lingus that was blocked by European regulators.

Reuters: Bankrupt Alitalia's cash reserves are dwindling fast and the airline will be liquidated if the latest plan to salvage it falls apart, administrators said.

Around Asia

Daily Telegraph: China's central bank bought a secret stake in Drax, the owner of Britain's biggest coal-fired power station, as it amasses small slices of FTSE 100 firms.

Financial Times: A group of Abu Dhabi investors will buy Manchester City from Thaksin Shinawatra, the former Thai prime minister, for £200 million ($360 million).

The Times: The Nano - the world's cheapest car – is under threat as angry mobs besiege the partly built factory where Tata is due to begin production within a month.

Look ahead

The Independent: Companies in the FTSE 350 will generate £302 billion ($541 billion) cash, 50 per cent more than was forecast, in the next three years.

The Times: Aston Martin will revive its famous Lagonda brand ; a concept model will be shown at next year's Geneva Motor Show.

Bloomberg: If, as polls suggest, Taro Aso becomes Japan's prime minister after the shock resignation of Yasuo Fukuda, government spending is expected to increase .

MARKETS

FTSE 100 5,602.80 down 0.6% (Monday close)

Dow 11,543.55 down 1.5% (Friday close)

S&P 500 1,282.83 down 1.4% (Friday close)

Nasdaq 2,367.52 down 1.8% (Friday close)

Nikkei 12,897.29 up 0.5% (latest)

Hang Seng 20,873.15 down 0.2% (latest)

Currencies

Sterling $1.7898/1.2277 euros (latest)

Euro $1.4579 (latest)

Commodities

West Texas crude $111.15 down $4.31 (latest)

Gold $820.00 down $15.20 (latest)

New York

Reuters: Closed for the Labor Day holiday.

Asia

Bloomberg: Asian stocks gained after a slump in the prices of metals and crude oil boosted utilities and airlines. Korea Electric Power, South Korea's top electricity supplier, rose 1.7 per cent, Tokyo Electric Power, Asia's biggest utility, rose 1.9 per cent and Qantas, Australia's biggest carrier, rose 2.4 per cent after oil prices touched a four-month low. Bridgestone, the world’s largest tyremaker, rose 3.9 per cent in Japan. In Sydney, BHP Billiton fell 2.1 per cent and Rio Tinto fell 2.8 per cent, leading mining and energy companies lower. Australia’s Commonwealth Bank rose 1.5 per cent on an expected interest rates cut. The MSCI Asia Pacific Index added 0.3 per cent to 123.13 in early trade.

Michael Beh

michaelwbeh@gmail.com

London

The FTSE 100 closed down 33.8 points at 5,602.8, after a rather directionless day and with the US markets shut for Labor Day.

Commodity stocks proved to be the biggest drag on the index, as miners fell, tracking lower metal prices, and oil stocks lost ground with news that Hurricane Gustav had been weaker than expected. Oil fell to about $110 a barrel after reaching highs of more than $118 in the day. Kazakhmys stood out as the heaviest faller, down 5.8 per cent, while Cairn Energy fell 5.6 per cent. Lower oil prices were better news for British Airways, which led the index, up 4.3 per cent, and Firstgroup, the bus operator, up 2.1 per cent. RSA Insurance again featured among the top risers, up 3.9 per cent, amid persistent market talk of bid interest from Zurich Financial Services.

Peter Stiff

peter.stiff@thetimes.co.uk

AGENDA

Q1 RESULTS

Ashtead

INTERIMS

Emblaze

Hydro International

International Quantum Epitaxy

Newcourt

Plantic Technologies Ltd

Symbian

PRELIMINARIES

Dechra Pharamceuticals

Hays

FINALS

Eaga

AGMs

Greene King

Scott Wilson

THB

Vision Media

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