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Europe News London


  • UK Housing Market Repeating US Tumble? Tuesday, 8 Apr 2008 | 7:50 AM ET

    There is a real danger that the housing market crisis in the US could be repeated in Britain, analysts said on Tuesday.

  • The credit squeeze for households and businesses looks set to intensify over the coming months as lenders grow increasingly nervous over the economic outlook, a survey by the Bank of England showed on Thursday.

  • Friends Rejects $7 Billion JC Flowers Takeover Offer Monday, 31 Mar 2008 | 1:18 PM ET

    British insurer Friends Provident rejected a 3.5 billion pound ($7 billion) cash takeover proposal from U.S. private equity firm JC Flowers because it "significantly undervalues" the firm, Friends said.

  • BA Warns Travelers Face Further Heathrow Delays Monday, 31 Mar 2008 | 1:16 PM ET
    British Airways planes are parked on the apron of terminal 4 at London's Heathrow airport

    Travelers hoping to fly from the new Terminal 5 at London's Heathrow airport on Monday face more delays from teething troubles with the computerised baggage handling system, British Airways said.

  • British Airways planes are parked on the apron of terminal 4 at London's Heathrow airport

    British Airways cancelled three dozen flights out of its new $8.6 billion terminal at Heathrow on Friday -- a fifth of scheduled departures -- as the chaos from its shambolic opening spilled into a second day.

  • UK House Prices Fall for Fifth Straight Month Friday, 28 Mar 2008 | 5:22 AM ET

    British house prices fell for a fifth straight month in March, bringing the annual rate of increase to its lowest in 12 years, in a clear sign the once red-hot property market is weakening fast.

  • Kingfisher Slices Dividend, Restructures China Arm Thursday, 27 Mar 2008 | 3:28 PM ET

    Kingfisher, Europe's biggest home-improvements retailer, reported lower annual profit as expected on Thursday and said it was slashing its full-year dividend by nearly a third.

  • Sainsbury's Unveils Property Deal, Sales Rise Wednesday, 26 Mar 2008 | 1:33 PM ET

    British supermarket retailer J. Sainsbury reported a 4.1 percent rise in like-for-like sales excluding fuel in the fourth quarter, above expectations, and said it saw "strong growth" in sales of non-food items.

  • FSA to Get Tougher after Northern Rock Wednesday, 26 Mar 2008 | 5:01 AM ET

    Britain's financial watchdog will boost its supervision of top banks after admitting on Wednesday that its supervision of Northern Rock was unacceptable and failed to highlight the mortgage lender's vulnerability.

  • UK Banks Meet BoE as Industry Jitters Persist Thursday, 20 Mar 2008 | 7:16 AM ET

    Liquidity, rumour-mongering and housing market troubles top the list of subjects for discussion when Britain's top bankers meet senior officials from the Bank of England on Thursday.

  • BoE Voted 7-2 for Steady Rates in March Wednesday, 19 Mar 2008 | 5:42 AM ET

    Two of the nine Bank of England policymakers opposed this month's decision to keep interest  rates at 5.25 percent, preferring an immediate quarter-point cut to shore up the economy in the face of a global downturn.

  • EasyJet Shares Slump on Profit Warning Wednesday, 19 Mar 2008 | 5:36 AM ET

    Shares in low-cost European airline easyJet plummeted Tuesday after it said that earnings for the second half of the year will be below its previous guidance if fuel prices continue at current levels.

  • Banks Vie for BoE Funds; Crisis Deepens Monday, 17 Mar 2008 | 8:24 AM ET

    The Bank of England's emergency offer of 5 billion pounds of 3-day loans was nearly five times oversubscribed on Monday as financial institutions scrambled for cash in the face of a global credit crunch.

  • Wolseley Profit Drops 23%, Trade Gets Tougher Monday, 17 Mar 2008 | 6:53 AM ET

    British building materials group Wolseley reported a 23 percent fall in first-half profit on Monday, hit by the collapsing U.S. housing market, and warned of tougher conditions, sending its shares to 5-year lows.

  • UK's Darling Cuts Growth, Hikes Borrowing Wednesday, 12 Mar 2008 | 11:14 AM ET
    Alistar Darling

    British finance minister Alistair Darling cut growth forecasts and sharply ramped up borrowing on Wednesday as the economy faces tough times and his government slides in the polls.

  • Pricey London Property Looking Better Value Wednesday, 12 Mar 2008 | 6:59 AM ET

    London is still by far Europe's priciest business location, but the cost of buying an office, as opposed to leasing one, is now greater in Madrid, Paris, Dublin, Munich, Barcelona, and Stockholm, according to a report issued on Wednesday.

  • Homebuilder Bovis Warns, Demands Rate Cuts Monday, 10 Mar 2008 | 1:08 PM ET

    British housebuilder Bovis Homes reported a 6 percent fall in 2007 profit on Monday and warned that 2008 volumes would be significantly lower if current market conditions continue.

  • HSBC Sees Higher Profit Despite Bad Debt In US Monday, 3 Mar 2008 | 12:45 PM ET

    HSBC, Europe's biggest bank, said its profit rose 10 percent last year as strong business in Asia and emerging markets offset bad debts in the U.S.

  • UK Mortgage Approvals, Lending Pick Up in Jan. Monday, 25 Feb 2008 | 9:17 AM ET

    British mortgage approvals picked up from near record lows in January, the British Bankers' Association said on Monday, indicating an expected slowdown in the housing market may be less severe than some fear.

  • From a Run on the Bank to the Finish Line Friday, 22 Feb 2008 | 8:01 AM ET

    The British government announced a temporary nationalization of mortgage lender Northern Rock after deeming takeover offers insufficient to recompense taxpayers that balied out the bank.