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PRESS DIGEST - British Business Press - May 16

Fri May 15, 2009 9:57pm EDT

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The Times

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RENISHAW

The British precision engineering firm, Renishaw (RSW.L), said that as a result of its cost-cutting measures its second-half losses would be less than the expected 10 million pounds. The firm, which has issued two profit warnings, said that its order book visibility remained short and trading conditions continued to be weak.

JEWELLER TALKS END

Upmarket jeweller Theo Fennell (TFL.L) said talks with a party that had been interested in making an investment in the firm had ended with no agreement. The company also confirmed that Barbara Snoad had been named chief executive with immediate effect. Shares closed three pence ahead at 16.5 pence.

H&M BOUNCES BACK

The world's third-largest fashion retailer, Hennes & Mauritz (HMb.ST), said that sales rebounded more speedily than anticipated in April, with like-for-like sales up by eight percent after eight months of decline. Total sales at H&M rose by 19 percent from a year ago, enhanced by the launch of the Matthew Williamson range across 200 stores on April 23.
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