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 ]

Damien Hirst not immune to financial crisis as jobs are shed
London - Even star artists are not insulated from the effects of the spreading global financial crisis it seems, as British artist Damien Hirst announced that his company will be shedding jobs in response to the economic downturn, the Guardian report...

[ Published on : Sat, 22 Nov 2008 09:22 ]

Britains Royal Bank of Scotland expects 2008 full-year losses
London - Britains Royal Bank of Scotland (RBS), which is in line to benefit to the tune of 20 billion pounds (31 billion dollars) from a government bail-out programme, Tuesday unveiled more write- downs and signalled that it expected to make its fir...

[ Published on : Tue, 04 Nov 2008 10:38 ]

Christies auction falls short by half of estimated prices
Washington - Art has not escaped the downward pressure of the economy, as Christies failed to get even half of the minimum prices expected for a raft of late 19th and 20th Century artworks. The New York auction house brought in only 47 million dolla...

[ Published on : Thu, 06 Nov 2008 07:39 ]

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 ]