And in the real world... Marks & Spencer, O2, Ikea and more

LONDON - Today's round-up of the biggest business stories.

And in the real world... Marks & Spencer, O2, Ikea and more
And in the real world... Marks & Spencer, O2, Ikea and more

Despite falling sales in the mobile sector, Ronan Dunne, the chief executive of O2 UK has signalled an optimistic forecast for the mobile phone operator's 2009 revenue. Source: The Financial Times

Reports that the recession could be coming to an end have been contradicted by news today that the manufacturing industry has suffered a sudden slump. Factory output fell by 0.5 per cent in May, its lowest level in 17 years. Source: The Times

Ikea has signalled that it may have to make further job cuts following a decline in consumer spending. The Swedish furniture retailer has already made 5,000 cuts from its global workforce, while its sales are currently $1 billion below budget for 2009. Source: The Wall Street Journal

Marks & Spencer is bracing itself for a shareholder revolt, with up to half of them expected to call for its executive chairman, Sir Stuart Rose, to step down at the annual meeting today. Source: The Times