Britain to cut VAT in Christmas stimulus spree
London - The government of Prime Minister Gordon Brown is to give nervous British consumers an early Christmas present on Monday, when he is expected to cut Value Added Tax (VAT) in an effort to lift the national economy out of recession, media repor...

[ Published on : Sun, 23 Nov 2008 09:22 ]

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 ]

Britains BT sheds 10,000 jobs as recession bites - Summary
London - British Telecom (BT) said Thursday that it would cut a total of 10,000 jobs in the current financial year, as part of an ongoing efficiency programme. The news came after a string of similar job-cutting announcements by major British in the ...

[ Published on : Thu, 13 Nov 2008 09:43 ]

British government to become major stakeholder in RBS bank - Summary
London - The British government is to become a majority stakeholder in the Royal Bank of Scotland (RBS) after shareholders failed to respond effectively to a cash-raising call. RBS, which is Britains second-largest bank, based in Edinburgh, has been...

[ Published on : Fri, 28 Nov 2008 10:26 ]