News round up: M&S, BHP Billiton, Sainsbury's, Japan, Banks, High street, Regus, Britain's visa system, European banks, easyJet.
Marks and Spencer Group Plc (LON:MKS) reported 3.8 per cent fall in general merchandise sales, which includes clothing, in the run up to Christmas, prompting a three-year deal with the British Fashion Council to collaborate on new clothing collections, The Telegraph reports.
Marc Bolland, M&S chief executive under pressure to reverse the decline in sales, said: "We are proud to collaborate with the British Fashion Council and look forward to working alongside them on our exciting 'Best of British' initiative. This is the start of an exciting journey to put more emphasis on British design and talent."
M&S is the biggest purchaser of British cloth and clothing, spending about £120m a year, despite moving most of its manufacturing overseas.
