Brown rapped

CHANCELLOR Gordon Brown was criticised by a leading think tank for failing to heed warning signs about a slowdown in the UK economy.

The Ernst & Young Item Club said Mr Brown could not blame external events such as high oil prices for the weakening growth rate.

Item's chief economic adviser, Professor Peter Spencer, said the economy was "on increasingly shaky ground" and could not rely on consumer spending and interest cuts to boost growth.

Spaghetti strike

FOOD giant Heinz said it was "shocked and disappointed" that workers at one of its factories were planning to strike over pay.

The Transport and General Workers Union has warned that the walkout by 800 employees at the Wigan factory will have an immediate effect on production of beans, soup and spaghetti.

Shares windfall

STANDARD Life members were promised a shares windfall today after the society fired the starting gun on a plan to list on the stock market.

Around 2.6 million eligible policyholders will receive shares in place of their membership - estimated to be worth up to £1,000.

City slickers

THE trial of a journalist who wrote the City Slickers column in the Daily Mirror is due to begin.

James Hipwell and a second man have been charged with breaching the Financial Services Act in connection with share tips.