Downturn deeper than expected, says Darling
LONDON (Reuters) - Britain’s economic downturn is likely to be deeper and last longer than expected and could be the worst for 60 years, Chancelllor Alistair Darling said on Saturday.
Darling warns of economic crisis
Chancellor Alistair Darling says the UK is facing the worst economic crisis in 60 years….
Original Source: news.bbc.co.uk
Dollar rises in big August surge, oil prices fall
NEW YORK (Reuters) - The dollar rose on Friday as it ended its best month in a over a decade, helping push oil prices lower as damage fears eased despite projections Gustav will barrel into the United States as a dangerous category 3 hurricane.
Oil pressured by strong dollar after storm support
NEW YORK (Reuters) - Oil prices were nearly unchanged by midday Friday as a stronger dollar balanced concerns that Tropical Storm Gustav will impact U.S. offshore oil and gas production.
Two big utilities raise gas and power prices
LONDON (Reuters) - The last two of Britain’s big six energy suppliers increased their retail power and gas prices on Friday, leaving most householders no escape from much bigger fuel bills this winter.
Turquoise says gaining market share in UK stocks
LONDON (Reuters) - Turquoise, the new share trading platform set up by investment banks, has gained over 5 percent intraday market share in some British stocks two weeks after its first trade.
BP says unclear when Baku-Supsa pipe can restart
TBILISI (Reuters) - Oil flow through the BP-led Baku-Tbilisi-Ceyhan (BTC) pipeline is nearly back up to its normal daily average of 700,000 to 800,000 barrels per day after this month’s two-week closure due to an explosion in its Turkish stretch, a BP spokesman said.
British Airways seen eyeing Austrian Airline
VIENNA (Reuters) - British Airways has logged its interest in the sale of a stake in Austrian Airlines, Austrian daily Die Presse said in a preview of an article due to be published on Saturday, giving no further details.
Inflation expectations mixed in Aug
LONDON (Reuters) - Britons’ expectations of the rate of inflation over the next 12 months rose to 4.4 percent in August from 4.2 percent in July but longer-term expectations fell, according to a YouGov/Citigroup survey on Friday.
Slowdown in US consumer spending
US consumer spending rose by just 0.2% in July as the effects of a government stimulus package wore off….
Original Source: news.bbc.co.uk
Bank insider urges UK rate cuts
Two million people will be out of work by Christmas if interest rates are not cut, a Bank of England policymaker warns….
Original Source: news.bbc.co.uk
Consumer spending slows in July
US spending rose just 0.2% in July, as the effects of a government stimulus package wear off….
Original Source: news.bbc.co.uk
Barclays trims mortgage rates
LONDON (Reuters) - Barclays, said it has cut the repayment rates on some of its mortgages in response to lower wholesale borrowing costs and stiffer competition.
Olympics lift consumer mood in UK
UK consumer confidence improved in August, helped by a strong performance in the Olympics and lower energy prices, a survey showed….
Original Source: news.bbc.co.uk
B&B sinks as bad debts worsen
LONDON (Reuters) - Troubled lender Bradford & Bingley sank to a first-half loss, hit by 155 million pounds in writedowns and investment losses, and said bad debts had risen more than half since the end of 2007.
PartyGaming poker slowdown prompts downgrades
LONDON (Reuters) - Online gaming firm PartyGaming reported a drop in the number of people playing its poker games in the last two months, overshadowing first-half results and prompting downgrades to earnings forecasts.
FTSE rises as commodities gain
LONDON (Reuters) - The leading share index was up 0.5 percent by midday on Friday as commodity companies boosted by higher energy prices supported, while heavyweight Vodafone dragged.
Climate change
Arctic sea ice is shrinking at an alarming rateTHIS week scientists at the National Snow and Ice Data Centre gave warning that Arctic sea ice has receded to its second-smallest area since satellite records began in 1979. The rate of shrinkage this year is the fastest ever and, with around a month still left of summer, the current ice coverage of 5.3m square km could fall to less than the record low seen last September of 4.1m square km. This is bad news for the environment: Arctic ice reflects sunlight, keeping the region cool, and polar bear populations are predicted to fall by a third over the next 50 years as the creatures’ habitat disappears….
Original Source: http://feeds.feedburner.com/economist
House prices fall 2 pct y/y in July: Land Registry
LONDON (Reuters) - House prices in England and Wales fell 0.6 percent in July, leaving prices 2 percent down on a year ago, the Land Registry said on Friday.
House prices fall 2 pct -Land Registry
LONDON (Reuters) - House prices in England and Wales fell 0.6 percent in July, leaving prices 2 percent down on a year ago, the Land Registry said on Friday.
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