Business

David Cameron Raids Dormant U.K. Accounts as Minister Attacks Banks

U.K. Prime Minister David Cameron announced plans to use “hundreds of millions of pounds” from dormant bank accounts to fund community projects, while Business Secretary Vince Cable said lenders “ripped off” customers.

Britain raises VAT sales tax to 20%

Andrew Atkinson BusinessWeek 23.06.2010
Britain raises VAT sales tax to 20%

British Chancellor of the Exchequer George Osborne increased the value-added tax rate to 20 percent from 17.5 percent in the first permanent change to the levy on sales of goods and services in almost two decades.


The European commission forecast for the UK budget deficit is higher than Alistair Darling's.

Whoever wins the election must make sorting out the public finances the top priority, the European commission warned on the eve of the poll, as it predicted the British budget deficit would swell this year to become the biggest in the European Uni...

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Virgin Atlantic and Cathay Pacific (CPCAY) face allegations of illegal price-fixing on the London to Hong Kong route after the Hong Kong flag carrier shopped its British counterpart to the Office of Fair Trading (OFT).


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Barclays Plc, the third-biggest U.K. bank by assets, said earnings rose more than analysts estimated in the second half, helped by the purchase of Lehman Brothers Holdings Inc. assets and the sale of an insurance unit.

Man's 'pants' password is changed

A man who chose "Lloyds is pants" as his telephone banking password said he found it had been changed by a member of staff to "no it's not".


Personal data of 1m bank customers found on secondhand computer sold on eBay for £35

Personal details of more than a million bank customers have been found on a computer sold on eBay.

Nuclear fallout as EDF pulls £12bn British Energy deal

Robin Pagnamenta and Siobhan Kennedy Times Online 01.08.2008
Sizewell B power station, in Suffolk (Kieran Doherty/Reuters)

Two major shareholders in British Energy are understood to have vetoed the £12 billion bid by French energy giant EDF which threw the Government's nuclear programme into chaos last night.


Hundreds of thousands face job loss in UK, says top economist

Britain's economy is tipping headlong into a recession that could last more than a year and cost hundreds of thousands of jobs, warns Professor David Blanchflower, a member of the Bank of England's interest rate committee, in an interview with the...

Baggage reclaim at the new Heathrow Terminal 5. Photograph: David Levene/Guardian

Terminal 5 came in for renewed criticism yesterday after it emerged that passengers transferring between planes at Heathrow's troubled new £4.3bn building are losing more than 900 bags a day.


Basic standard of living costs £13,400

Allegra Stratton and agencies Guardian.co.uk 02.07.2008
Basic standard of living costs £13,400

A single person living in Britain needs to earn at least £13,400 a year before tax to afford a basic but acceptable standard of living, according to a report published by the Joseph Rowntree foundation today.

Ministers search for extra £100m to fund 2012 athletes

Ashling O'Connor Times Online 25.06.2008
Ministers search for extra £100m to fund 2012 athletes

Ministers are preparing a £100 million bailout fund to help to train Olympic athletes after the credit crunch put an end to hopes of finding the money from private business, The Times has learnt. UK Sport, the elite funding agency, is understood t...


£1bn deal to build 2012 Olympic Village venue faces collapse over credit crunch

A £1bn deal to fund the biggest venue on the Olympic Park in East London was close to collapse today after the Australian developer involved said it was struggling to raise capital because of the credit crunch.

Rich Britons retiring abroad are 'cheating' UK taxpayer of millions

Some wealthy Britons are exploiting a tax loophole that allows them to retire abroad with their UK pension savings and live tax-free.


Could Battersea Power Station finally be redeveloped?

The owner of Battersea Power Station has said it will submit a plan for redeveloping the power station by early 2009.

Brits more fearful of tea shortage than fallout from nuclear attack

Never mind the radiation - British contingency planners fretted there would be a dramatic shortage of tea in the aftermath of a nuclear attack, declassified documents show.


The clones are coming - to a supermarket near you

Amelia Hill, Robin McKie The Observer 03.03.2008
Image: telegraph.co.uk

The first cattle born to a cloned cow in Britain will this week be sold at public auction. The sale - at a cattle market outside Bristol - marks the opening of a new chapter in food technology in this country, say scientists.

Fashion chain withdraws from Britain amid depressed trade

The fashion chain Mexx is understood to be pulling out of the UK high street as fashion shoppers rein back spending and trading conditions deteriorate.


UK standard of living rises above that in America for the first time in a century

For the first time in more than 100 years, British living standards have risen above those of Americans, a report has declared. Increasing incomes, longer holidays and "free" healthcare have all contributed to making Britons better off than our fr...

Junk food ad ban comes into force in UK

A total ban on adverts for unhealthy food and drink products around TV programmes for under-16s has come into force. It extends similar restrictions already in place for shows aimed at children under 10 years old.



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