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Stock futures are extending their losses following a government report showing a worse-than-expected decline in retail sales.

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A challenging beverage environment and the loss of a drink deal will weigh on Dr. Pepper Snapple Group Inc. in 2009, an analyst said Wednesday as he cut the beverage maker’s full-year earnings forecast.

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Stock index futures hit a session low on Wednesday after government data showed retail sales fell more than expected in December, signaling a further drop in consumer spending, a key driver of corporate profits.

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Jaguar Land Rover announces it is cutting 450 jobs, including 300 managers, due to “severe reduction in demand”.

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A plan to guarantee up to £20bn of loans to small and medium-sized firms to help them survive the downturn is unveiled.

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The biggest record shop in New York, the Virgin Megastore in Times Square, is to close in April.

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Up to 240 jobs are under threat at pharmaceutical firm Pfizer’s research and development site in east Kent.

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Airbus builds a new factory in France to assemble the wide-bodied A350 - the wings of which will be made at Filton near Bristol.

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A third of employees at Seagate in Londonderry are to have their pay cut by 10% in a bid to cut costs.

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A 200-year-old Derbyshire pottery firm is talking to union leaders about cutting back its workforce.

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