Race is on to rescue Woolworths brand following administration
London - Administrators called in by collapsed retail group Woolworths in Britain said Thursday that efforts were under way to find a buyer for the giant High Street chain. Accountancy firm Deloitte said it had received expressions of interest from ...

[ Published on : Thu, 27 Nov 2008 08:25 ]

British government to become major stakeholder in RBS bank
London - The British government is to own a majority share of almost 58 per cent in the Royal Bank of Scotland (RBS) after shareholders failed to take up a rights issue to inject new capital into the ailing bank. RBS announced Friday that only 0.24 p...

[ Published on : Fri, 28 Nov 2008 04:26 ]

Brown sets April date for G20 meeting in London - Summary
London - Leaders from the Group of 20 (G20) nations will hold a summit meeting in London on April 2 next year to address the global economic crisis, British Prime Minister Gordon Brown said Wednesday. Future US President Barack Obama would attend the...

[ Published on : Wed, 26 Nov 2008 10:25 ]

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 ]