PRESS DIGEST - British business - March 25

The Times

PENSION TRUSTEES "COULD SINK ROYAL MAIL"

Royal Mail warns its finances are so poor that its pension fund trustees could bring it into liquidation to pay off a 3.4 billion pound deficit. Executives are painting a bleak picture of the postal group's health, at a time when the company is under fire from unions over its plan to close its final salary pension scheme, raise the retirement age from 60 to 65 and cut its contributions. National official with Unite, Paul Reuter, said: "The unions actually want this business to be managed. We are very concerned about the state of it. We don't think that Royal Mail has the capacity or the will to work in a competitive environment."

SALES AT JOHN LEWIS ESCAPE THE CHILL AS SHOPPERS HEAD FOR COVER

Shoppers stayed off the high streets and out of the garden centres and DIY shops over the blustery Easter weekend, and instead piled into shopping centres. John Lewis revealed Good Friday sales were up almost 50 percent in its stores at Bluewater, Kent, and West Quay in Southampton. A spokesman said: "The weather has helped us as it has meant families taking trips to under cover shopping centres, where they stay for the whole day." However, the company also revealed its high street sites had not fared so well.

ENTERPRISE TO ISSUE TRADING UPDATE

Enterprise Inns (ETI.L: Quote, Profile, Research, Stock Buzz) will issue a trading update on Friday, and the market will be keen to hear how it has held up against the difficulties brought on by the smoking ban. The pub company will also reveal how it has coped with the slowdown in consumer spending. Enterprise Inns had predicted challenging times ahead for the industry when its previous results were published.

The Daily Telegraph

TRAFALGAR TARGETED BY GOLDMAN FUND