Rolling coverage of the latest economic and financial news Elsewhere this morning, WH Smith has said it wants to raise about £100m as the conflict in the Middle East starts to affect its profit. The high street retailer says it will place up to 26 million shares, or about 20% of its existing share capital, alongside a separate offer for retail investors in the UK. The business has a strong core and operates in attractive markets with ample scope for profit expansion, particularly in North America. However, we need much greater capital discipline and a laser focus on returns. In recent years, the outcomes from certain acquired businesses and contract obligations have been very disappointing. Our priorities are to build an efficient and effective foundation for WHSmith and use this to drive