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 ]

Brown says higher public borrowing will help Britain beat recession
London - The British government will increase public sector borrowing to speed up economic activity in order to tackle the looming recession, Prime Minister Gordon Brown said Monday. Speaking to a group of academics and industrialists in London, Brow...

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

Music company EMI reports 757-million-pound loss
London - British music company EMI reported a loss of 757 million pounds (1.2 billion dollars) in its first year as part of the private equity group Terra Firma, news reports said Saturday. Revenues dropped by 19 per cent to 1.46 billion pounds in th...

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

Merkel and Brown call for global measures to tackle crisis - Summary
London- Britain and Germany will work together to prevent the spread of the current global financial crisis by seeking a reform of international institutions and encouraging banks to start lending again, Prime Minister Gordon Brown and Chancellor Ang...

[ Published on : Thu, 30 Oct 2008 02:33 ]

European central banks cut rates to ward off recession - Update
London/Frankfurt - Faced with a looming recession and rapidly falling inflation, the European Central Bank (ECB) cut rates by 50 per cent Thursday as monetary authorities around the world step up efforts to cut the cost of money. The ECBs move follo...

[ Published on : Thu, 06 Nov 2008 09:39 ]