Yell warns on economy recovery. Photograph: Gabriel Szabo/Newscast Yell, the heavily indebted directories group, has lost nearly 11% after a disappointing trading update and talk of possible fundraisings. The company said first quarter revenues were down 10.6%, with earnings down 10.9% at constant exchange rates. It said this was in line with previous guidance, as [...]

Out of the picture … cuts will mean theatres are less able to invest in new plays like The Pitmen Painters, above, starring Michael Hodgson. Photograph: Tristram Kenton By any stretch of the imagination, British theatre since 1945 has gone through a golden age. Very rarely in world culture do conditions conspire to produce generation [...]

Sir Richard Branson is in talks with private equity firms over sale of Virgin Active the health and fitness chain. Photograph: Peter Schneider/EPA Sir Richard Branson’s Virgin Active is in early discussions with a handful of private equity groups over a possible £1bn sale of the health and fitness chain. The UK’s second-biggest gym operator, [...]