Misys warning

SHARES in Misys have fallen 17 per cent after the Evesham-based business software provider issued a profit warning.

Misys said it faced a significant fall in profits in the first half of the year and could not guarantee making up the shortfall in the rest of the year.

This was due to revenues from contracts in the banking sector being spread over a longer period and the cost of increased investment in new products.

In morning trade, Misys' shares were down 40.5 pence at 198.25p.

Brown bashed

THE Chancellor came under attack from union leaders for issuing "warm words" to the TUC while pressing ahead with controversial plans to axe 100,000 civil service jobs and change pensions for millions.

Gordon Brown told the TUC Congress in Brighton he wanted to boost workers' skills, close the gender pay gap and give more support to manufacturing.

But he also said there could be no return to inflationary pay deals and pledged no retreat from efficiency savings.

Books battle

HMV secured crucial allies in its takeover campaign for Ottakar's when independent directors of the book chain ditched their support for a management buyout.

The retailer has convinced directors that its £96.4m bid will clear any competition hurdles even though combining Ottakar's with its Waterstone's stores will create a company with nearly a quarter of the UK book market.