A round-up of today's other stories in brief...

British economic growth at its weakest rate in three years

Britain's economy grew at its weakest rate in three years in the first quarter as the credit squeeze tightened its grip, data showed yesterday. The Office for National Statistics said the economy grew 0.4 per cent in the first three months of the year, down from 0.6 per cent in the previous quarter and as high as 0.9 per cent at the end of 2006.

The figures show Britain's economy is now growing below trend, potentially giving the Bank of England more leeway to cut interest rates. However, policymakers have indicated some slowing of the economy is necessary to curb inflationary pressures and the figures did little to alter expectations that further rate cuts would be gradual.

Global mobile phone sales increase 14%

Handset makers sold 14 per cent more phones in January-March than a year ago, growing at the fastest pace in five quarters, research firms said yesterday.

"Global handset volume continues to increase at a healthy pace. Recent annual growth rates have actually gone up, not down," said Neil Mawston, analyst at Strategy Analytics.

The world's largest phone maker Nokia and Korean vendors Samsung Electronics and LG Electronics, won further share of the market, helped by attractive designs and wide offerings.

Owner of 'FT' upbeat on trading forecast

British publisher Pearson, the owner of the Financial Timesnewspaper and Penguin books, said yesterday it had made a good start to 2008 and was trading in line with its expectations.

"We expect another year of good earnings growth, even in these more uncertain economic conditions," the world's biggest publisher of education materials said in a statement.

Pearson, which makes almost two-thirds of its sales and operating profit from education-related business, said it continued to expect "another year of good profit growth" from its education operations.

It also forecast profit growth at the Financial Timesand said Penguin was on track to achieve a double-digit percentage profit.

AmEx posts 6% decline in profits

American Express has posted a 6 per cent decline in first-quarter profit, but results beat expectations and the company affirmed its full-year earnings forecast, lifting its shares.

The US credit card firm said revenue rose 11 per cent, and total spending on its cards rose 14 per cent. However, it is cautious about the outlook for US consumer spending, chief financial officer Dan Henry said - and the company has set aside another $881 million for credit losses during the quarter.