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Jersey-based home shopping group Flying Brands is to close down its Greetings Direct business after expansion plans in the US flopped.

Diners opting to eat at home and save their money (The New Zealand Herald)
As increasing costs begin to bite, more New Zealanders are favouring a night at home in front of the fire over meals out. Restaurants report a significant drop in business as stubbornly high interest rates and spiralling prices for food and petrol hit diners' wallets.

Reuters Business Summary (Reuters via Yahoo! Malaysia News)
Postbank sale may fail over target price: report FRANKFURT - The sale of Germany's biggest retail bank Deutsche Postbank could fail because the price potential bidders are willing to pay does not meet the expectations of the lender's parent, Deutsche Post, a German magazine reported on Saturday. Business weekly Wirschaftswoche cited sources close to Germany's Finance Ministry ...

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