Nortel Networks Inc, a former telecoms company that is liquidating in bankruptcy, won a dismissal of some claims by European affiliates that were seeking a large chunk of the company's $9 billion cash pile, Reuters reported. Nortel's British, Irish and French affiliates had sought more than $3 billion, claiming Nortel Networks Inc has breached its fiduciary duties to the European businesses by stripping them of cash and leaving them insolvent. A Delaware bankruptcy court dismissed those claims in part because Nortel Networks, or NNI, was not a director of the European affiliates.

Consumers expect their finances to get worse in the coming year but are slightly more willing to spend money on major purchases as worries about job security are easing, a survey showed on Monday, Reuters reported. Markit's headline Household Finance Index dipped to 37.8 in March from February's 14-month high of 38.7, and well below the 50 level which would mark an improvement in Britons' finances.

Chancellor George Osborne will use a 28 billion pound ($44.36 billion) asset transfer from taking on the Royal Mail's pension fund to pay down government debt next year, a government source said on Sunday, Reuters reported.

Troubled U.K. music retailer HMV PLC Thursday said a number of potential buyers are looking at its HMV Live unit, as the firm struggles with dwindling high-street sales and crippling debts, Dow Jones DBR Small Cap reported. The announcement follows speculation in the U.K. press Wednesday that closely held U.S. company Anschutz Entertainment Group, owner of London's O2 Arena, was preparing a GBP65 million ($102 million) bid for the business.

With no room to spend its way back to growth in next week's budget, Britain's government is straining to find creative ways to boost the economy and betting on new schemes aimed at helping the private sector spark recovery, Reuters reported. But chancellor George Osborne's much-vaunted plans to boost bank lending to small businesses and encourage pension funds to invest in Britain's creaking infrastructure look set to be tarred with disappointment before they are even launched.

Britain's unemployment rate held at a 16-year high in the three months to January and the youth unemployment rate rose to a record high, piling pressure on the government to introduce policies to boost growth and jobs in next week's budget, Reuters reported. Unemployment on the broader ILO measure inched down to 2.666 million for the November-January period from 2.671 million in the three months to December, but the overall rate held at 8.4 percent, a rate that prior to recent months was last equalled in the three months to January 1996.

With no room to spend its way back to growth in next week's budget, Britain's government is straining to find creative ways to boost the economy and betting on new schemes aimed at helping the private sector spark recovery, Reuters reported. But chancellor George Osborne's much-vaunted plans to boost bank lending to small businesses and encourage pension funds to invest in Britain's creaking infrastructure look set to be tarred with disappointment before they are even launched.

Royal Bank of Scotland and former directors including ex-chief executive Fred Goodwin and ex-chairman Sir Tom McKillop have been hit with a £2.4 billion ($4.6 billion) legal claim from angry investors in the taxpayer bailed-out bank, The New Zealand Herald reported. RBOS Shareholders Action Group was due to deliver claims letters to the bank and 17 former directors, including the former head of investment banking Johnny Cameron.

Struggling British video games retailer Game, denied new titles by suppliers, has put itself up for sale and warned shareholders their equity in the firm could be worthless, Reuters reported.

Barclays PLC cut Chief Executive Bob Diamond's pay packet by a third to £6.3 million ($9.97 million) in 2011, as a series of major U.K banks lowered executive bonuses amid weakening competition to retain top talent in the sector and glum financial results, The Wall Street Journal reported. In its annual report, Barclays said it cut its total 2011 remuneration for top executives and directors by 22% to £62.2 million compared with a year earlier. Bonus pay at Barclays's investment-banking arm fell by around a third to £1.74 billion. Mr.