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BUSINESS NEWS OF THE BRITISH ISLES
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| Sunday, 7-Sep-2008 16:50 EDT |
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British homes hit double-digit declines
LONDON, Sept. 5 (UPI) -- Home values in Britain are tumbling at a rate of more than $175 a day with home prices falling 12.7 percent in the 12 months, Halifax bankers said.
British suspend some home-buyer taxes
LONDON, Sept. 2 (UPI) -- The British government announced it will suspend stamp-duty taxes in 2009 on houses costing less than $311,919 to stimulate the slumping housing market.
Utility raises rates in Britain
LONDON, Aug. 21 (UPI) -- German energy giant E.ON said Thursday it would raise electric rates 16 percent and gas rates 26 percent for most of its 5.5 million British customers.
British group alleges overcharging on gas
LONDON, Aug. 16 (UPI) -- Britain's Automobile Association contends oil companies' refusal to trim their prices is causing unfair prices at the pump.
Staple foods up 27 percent in Britain
LONDON, Aug. 11 (UPI) -- Staple food items -- bread, milk and meat -- have jumped 27 percent in price in Britain in the past 12 months, a supermarket research group said Monday.
Collectables gather more value
LONDON, Aug. 9 (UPI) -- The value of collectables is soaring, especially as an investment hedge against inflation, officials of the British firm Collins Stewart say.
Think tank warns of soaring oil prices
LONDON, Aug. 8 (UPI) -- Plentiful oil reserves underground will not prevent supply issues from pushing prices above $200 a barrel in the next 5 to 10 years, a British study group said.
Food inflation accelerates in Britain
LONDON, Aug. 6 (UPI) -- Food prices rose sharply in Britain over the past year, up 9.5 percent from July 2007, a retail watchdog group said.
Northern Rock recovery hits a snag
LONDON, Aug. 5 (UPI) -- The British Treasury said Tuesday it would convert nearly $6 billion in loans to Northern Rock bank into common bank shares to help balance its books.
Brit real estate booms as 2nd homes sold
LONDON, Aug. 2 (UPI) -- British real estate agents say falling property prices are causing business to boom in rural and coastal areas as city dwellers sell off second homes.
Britain may lose 5 million air travelers
LONDON, July 28 (UPI) -- Rising air fares could lead to as many as 5 million fewer British airline passengers by 2010, industry analysts said.
Crocs shares drop by nearly 50 percent
NIWOT, Colo., July 26 (UPI) -- Shares in Crocs Inc. have fallen by nearly 50 percent as the Colorado shoe company reported its first potential sales slump in six years.
Four British Airways execs to be charged
LONDON, July 26 (UPI) -- Four British Airways officials may be charged with price-fixing in a case that could have major implications, the Financial Times reported Saturday.
Tesco reaches into Outer Hebrides
STORNOWAY, Scotland, July 23 (UPI) -- Tesco, the British supermarket giant, has breached the last region in Scotland where its stores were unknown, the Outer Hebrides.
London has world's costliest parking
LONDON, July 19 (UPI) -- Bring plenty of sterling if you plan to drive your car into central London -- a survey indicates it's the most expensive place in the world to park.
British gas bills could jump 70 percent
LONDON, July 18 (UPI) -- Centrica, the largest energy supplier in Britain, has warned its customers to expect energy bills to rise by 70 percent in the next few years.
Retail sales slow in Britain
LONDON, July 15 (UPI) -- Retail sales in Britain rose 2.1 percent in June, compared with a year ago, but sales have declined in the past three months, a report said.
Santander and A&L agree to purchase
LONDON, July 14 (UPI) -- Spain's largest bank, Santander, said it reached an agreement to buy British bank Alliance & Leicester for $2.58 billion.
Realtor offers car as housewarming gift
NEWQUAY, England, July 11 (UPI) -- Home buyers in Britain discouraged by rapidly falling home values can find one real estate agent ready to offer more than a toaster as a house-warming gift.
Initial mortgage costs jump in Britain
LONDON, July 10 (UPI) -- Initial mortgage costs have jumped in Britain, cutting deeply into the percentage of take home pay home buyers need to own a house.
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