Hiroshima is still paying off debts from staging the 1994 Asian Games The Japanese city of Hiroshima has pulled out of the bidding to host the 2020 Olympic Games. Hiroshima had proposed a joint "peace bid" with Nagasaki but outstanding debts from staging the 1994 Asian Games prematurely ended their candidacy. Mayor Kazumi Matsui told the Japanese Olympic Committee: "the city is still continuing to repay loans from 1994." Japan may still bid for the [...]

13 June 2011 last updated at 06:12 ET Share this page Majestic Wines' success comes in sharp contrast to recently failed rivals Oddbins and Threshers Majestic Wine has reported a 27% jump in profits as sales thrived last year. The wine merchant said it planned to double its number of stores to 330, having opened 12 in the last 12 months. The firm made profits before tax of £20.3m in the year to March, beating [...]

13 June 2011 Last updated at 19:00 ET Share this page by Rory Cellan-Jones Technology correspondent, BBC News WATCH: IBM, the firm that was once all about hardware, now makes its living from more intangible technology Say IBM – and you probably still think of computers. But today, the firm that was once all about hardware, makes its living from more intangible technology. As it celebrates its centenary, International Business Machines is a business that [...]

13 June 2011 last updated at 15:49 ET Share this page By Matt Danzico BBC News, New York Video game designers and developers attend a game jam in New York City and develop new titles in just 48 hours Large video game titles often take thousands of hours, scores of programmers, and vast sums of money to create. but there are groups of independent coders, programmers and designers coming together around the globe to create [...]

13 June 2011 Last updated at 19:00 ET Share this page By Kevin Peachey Personal finance reporter, BBC News, Tonbridge Judith Ackrill and her friends at the library-based club have noticed a rise in anything from the cost of wool to the price of petrol Members of the Monday morning knitting circle need not look far for an example of where rising prices have affected their lives. "Good quality wool has got quite expensive," says [...]

13 June 2011 last updated at 15:20 ET Share this page Southern Cross has been in talks with its landlords and the Department of Health Southern Cross has reached a deal with its landlords under which no care homes will be closed in a transition period that will last until at least October. The landlords also told the BBC that they were prepared to make "significant financial concessions". They said that it was likely that [...]

13 June 2011 Last updated at 12:53 ET Share this page by John Moylan Employment correspondent, BBC News More than a million council workers went on strike in 2006 against changes to their pensions The UK's biggest public sector union, Unison, has warned that it is "on the road to industrial action" over changes to public sector pensions. Its general secretary, Dave Prentis, said there would be sustained strike action this autumn if a deal [...]

13 June 2011 last updated at 12:02 ET Share this page Timberland is best known for its rugged boots VF Corporation has announced a $2bn (£1.2bn) deal to bring together some of the best-known outdoor and action sports brands. The company that owns Wrangler jeans has agreed to buy Timberland, which is famous for its leather boots. Timberland will join a stable that includes such brands as The North Face, Vans, Reef, Jansport and Eastpak. [...]

13 June 2011 Last updated at 11:30 ET Share this page The BBC has been making programmes at Television Centre for more than 50 years Television Centre, the landmark west London home of BBC television and news, has gone on the market. The corporation said it was interested in a conventional sale or offers to redevelop the site as a joint venture. A statement said the BBC was "keen to investigate" redevelopment plans to preserve [...]

13 June 2011 last updated at 02:28 ET Share this page A surge in real property prices has created fears of formation of asset bubbles in China China's banks extended fewer than expected new loans in May as the country kept up its efforts to rein in rising prices. Chinese banks lent 551.6bn yuan ($85bn; £52bn) in new loans, compared with 739.6bn yuan in April, according to the People's Bank of China. Authorities have been [...]