But the federal portion of the program's $920,000 budget has been cut for the 2006 fiscal year, from $550,000 to zero.

After approving the plan, the Cabinet cut half the financing for the first year.

It was the second time in two and a half months that Ford cut its earnings projections for the year.

And he has asked state commissioners to present plans showing how they would cut their budgets up to 20 percent for the new fiscal year.

The company also cut its earnings guidance for the year to $1 to $2 a share, from $4 to $5 a share.

The agriculture communities start cutting their harvest for the year.

It also cut its profit forecast for the year by 40 percent.

Brokers have cut their expectations for the full year from £30m to £28m, suggesting earnings of just under 15p.

The company said the new rate structure would cut its expected profits for the year by 1 or 2 cents a share.

The company cut its profit outlook for the full year through March 43 percent, to 205 billion yen.