The Week: City News - Freesheet's losses narrow

News International's freesheet thelondonpaper continued to lose money in the year to 30 June 2008, though losses were less severe than in its first year.

The title reported a £12.96 million loss, down from the £16.48 million posted during the previous 12 months. Thelondonpaper saw a 75 per cent increase in turnover on the back of a rise in advertising volumes during the period.