British holiday operator folds over rising fuel costs
London - Britains third-biggest travel operator and package holiday group, XL, has gone into administration as a result of spiralling fuel prices, leaving thousands of holidaymakers stranded, the company said Friday. The XL Leisure Group, which oper...

[ Published on : Fri, 12 Sep 2008 11:20 ]

Tesco supermarket chain reports rise in profits
London - Britains leading supermarket chain Tesco provided a rare piece of good business news Tuesday by reporting a rise in half-yearly profits despite the tough retail environment. Tesco said group profits up to the end of August rose by 11.3 per ...

[ Published on : Thu, 02 Oct 2008 13:33 ]

BACKGROUND: Mortgage lender HBOS
London - Halifax Bank of Scotland (HBOS) is the largest mortgage lender in Britain, accounting for a fifth of home lending in the country last year. With savings, insurance and investment banking activities, the HBOS group is one of the largest in th...

[ Published on : Thu, 18 Sep 2008 12:34 ]

French EDF and British Energy agree on purchase deal
Paris - French energy giant Electricite de France (EDF) is to purchase British Energy Group after both boards agreed on a price, EDF said Wednesday in a statement. According to the agreed deal, EDF will pay 12.5 billion pounds (15.6 billion euros, or...

[ Published on : Wed, 24 Sep 2008 09:31 ]

French EDF and British Energy agree on purchase deal - Update
Paris - Following months of negotiations, French energy giant Electricite de France (EDF) is to purchase British Energy Group after both boards agreed on a price, EDF said Wednesday in a statement. According to the agreed deal, EDF will pay 12.5 bill...

[ Published on : Wed, 24 Sep 2008 11:32 ]

EXTRA: Lehman Brothers in Britain placed into administration
London - Lehman Brothers International (Europe) was placed into administration Monday, London-based accountancy firm PriceWaterhouseCoopers (PWC) said. PWC said it was working to wind down the business in as orderly a manner as possible. ...

[ Published on : Mon, 15 Sep 2008 03:30 ]

British businessmen call for new direction in economic policy
London - A group of British business leaders Monday criticized the government of Prime Minister Gordon Brown for failing to respond effectively to the current global economic crisis and called for a new direction. The call in a letter published in t...

[ Published on : Mon, 22 Sep 2008 10:12 ]

Londons Gatwick airport up for sale
London - Londons Gatwick airport, the second biggest in Britain, will be sold to a new owner following a ruling by the competition commission, its present owners BAA said Wednesday. Several national and international firms are believed to be interes...

[ Published on : Wed, 17 Sep 2008 09:18 ]

EXTRA: Brown welcomes EDF energy takeover deal
London - Prime Minister Gordon Brown Wednesday welcomed the agreed takeover of Britains energy supplier British Energy (BE) by French group EDF as a significant step towards the construction of a new generation of nuclear power stations. The Britis...

[ Published on : Wed, 24 Sep 2008 11:32 ]

Brown urges world to follow of example of bank rescue
London - British Prime Minister Gordon Brown has called on governments around the world to follow the example of Britain in taking ground-breaking decisions to stabilize the banking system. Writing in the Times newspaper Friday, Brown said governme...

[ Published on : Fri, 10 Oct 2008 04:39 ]

Britain nationalizes lender in latest rescue bid - Summary
London - The British government Monday averted another direct blow to the crisis-hit banking sector by nationalizing one of the countrys major mortgage lenders and selling its savings business to Spanish banking giant Santander. In a deal hammered o...

[ Published on : Thu, 02 Oct 2008 13:33 ]