British Telecom issue a profit warning
London - British Telecom Friday issued a surprise profit warning, telling shareholders results for the quarter ending September would be slightly down on expectations. It said its Global Services section, used by big multinational companies, had fail...

[ Published on : Fri, 31 Oct 2008 08:33 ]

Bank of England says British economy is already in recession
London - The British economy is already in recession and will shrink by as much as 2 per cent by early 2009, the Bank of England (BoE) said Wednesday. The banks quarterly inflation report, presented by central bank governor Mervyn King Wednesday, sa...

[ Published on : Wed, 12 Nov 2008 08:42 ]

Marks Spencer ailing as British economy slows down
London - Britains leading Marks Spencer fashion and food retail chain Tuesday reported a 34-per-cent drop in half-yearly profits and warned that 2009 would be a tough year. Profits fell to 297.8 million pounds (470.5 million dollars) in the six m...

[ Published on : Tue, 04 Nov 2008 08:38 ]

British inflation falls in October as oil and food price come down
London - Inflation in Britain fell to 4.2 per cent in October from 5 per cent in the previous month, the Office for National Statistics (ONS) said Tuesday. The fall in the Retail Price Index (RPI), a measure that takes into account housing costs, was...

[ Published on : Tue, 18 Nov 2008 07:45 ]

British economy shrinks sending pound into a nosedive - Summary
London - The British economy has shrunk for the first time in 16 years, the Office for National Statistics said Friday, sending shares and the pound into a tailspin. The release of the figures showing the economy in the European Unions second bigges...

[ Published on : Wed, 29 Oct 2008 06:32 ]

Iceland reaches deal to pay British, Dutch clients of failed bank
Reykjavik - Icelands government on Sunday agreed to reimburse British and Dutch depositors of failed internet bank Icesave. The agreement with the British and Dutch governments and other EU countries clears the way for the troubled Atlantic island n...

[ Published on : Sun, 16 Nov 2008 05:45 ]