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 ]

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 ]

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 ]