The Week: City news - Trinity sees shares slump

Shares in Trinity Mirror Group plunged by 28 per cent this week after the publisher said it would fall 10 per cent short of its profit targets.

Trinity blamed the results on the state of the UK economy and a marked decline in ad revenues in May and June. It added that it expected conditions to remain tough for the rest of the year. In the trading statement, the company said volatility could worsen in a "very uncertain economic outlook" and that it would continue to cut costs.