The surge in fuel prices hit the economy last month according to a batch

The surge in fuel prices hit the economy last month, according to a batch of surveys yesterday that revealed a drop in retail sales and shopper numbers and a slowdown in the UK’s vast services sector. The volume of goods passing across high-street tills fell 1 per cent compared with a year ago, based on the same area of selling space. “The protection of them is not only to safeguard commerce but also for the purpose of enhancing China’s development. He said China would be keen to protect intellectual property rights in future.”On intellectual property rights, this has been a heated discussion,” he said. But he stressed free trade meant developing proper protection for intellectual property rights.

British exports lag behind the three top EU exporters – Germany, France and Italy. The UK exported goods worth £2.4bn and services worth £1bn last year but imported goods valued at £10.6bn from China.The Chinese premier said total EU-China trade would exceed $200bn (£108bn) this year, eight years ahead of his target. The changes that are happening around us are changes that I see not as a threat but as an opportunity.”Mr Blair said China would benefit from lower labour costs but as it moved further up the “value added chain”, China and Europe could gain from the opening up of markets. We must allow our companies to be subject to international market forces.”We must look to companies in other countries to do the same That is globalisation in action.

Much more effort needs to be taken to ensure intellectual property rights.”Mr Blair took a sideswipe at EU countries such as France who were seeking protectionism “There is a place for managing change,” he said “What there is no case for is resisting change. In a thinly veiled attack, Sir Digby said: “The importance of a level playing field and transparency is vital, but we in Europe must set an example We must open up our markets further. Tensions over trade between the EU and China surfaced in behind-the-scenes talks in Beijing yesterday over the growth of counterfeit goods flooding into European markets. The trade deal agreed last night by Peter Mandelson, the EU trade commissioner, to release impounded Chinese textile goods eased some immediate strains.

But the Chinese premier, Wen Jiabao admitted there had been “heated discussions” over the need for greater protection of intellectual property rights by European countries against piracy in China.The threat to EU companies seeking to protect rights over their expensive branded products was stressed by Tony Blair and Sir Digby Jones, the director general of the CBI.But there were clear signs that Britain is shaping up for a renewed battle with EU member states, including France, who want protectionism. The first half also faced tough comparison with 2004 when William Hill and its bookmaking counterparts won handsomely on Euro 2004.The second half of the year should be bolstered by a contribution from Stanley Leisure’s bookmaking business, which William Hill bought in June, a deal given the green light by the Office of Fair Trading.

Income from online poker rose 151 per cent as the bookmaker started to catch up with specialist sites.The company also reported average net profit per terminal, per week of £400 from its fixed-odds betting terminals, up from £396 in the first half of last year.. They were more concerned with interim results that showed operating profits 12.3 per cent lower, despite higher costs associated with longer opening hours at William Hill’s chain of bookmakers.Amounts staked by punters rose from £3.9bn to £5bn but a £1.2bn rise in the cost of sales left gross profits flat at £297.8m. Like those of other bookies, William Hill’s results were hit by a string of horseracing results in the first half that went in favour of punters. The company revealed profits hit by exceptional items, including £2.8m in bankers’ fees for an aborted return of capital and a string of poor horseracing results.
Even the announcement of a £200m-£300m share buy-back programme failed to impress investors. William Hill, the bookmaker, tried to cheer the stock market yesterday by reporting a winning start to the second half of the year, but its share price ended the day 3 per cent lower at 573.5p.