Yahoo! News: World - Britain

Vodafone net profit down 35%, plans cost cuts (AFP) Posted: 11 Nov 2008 04:29 AM CST AFP - Vodafone said on Tuesday that its net profit had slumped 35 percent in the first half of its financial year as it booked a hefty loss on the value of its Turkish business.

InterContinental profits tumble 28% (AFP) Posted: 11 Nov 2008 04:26 AM CST AFP - InterContinental Hotels Group said on Tuesday that its net profit dropped 28 percent to 91 million dollars (58 million pounds) in the third quarter, and that market conditions had since deteriorated sharply.

Vodafone's 1H profit falls; cost cuts boost shares (AP) Posted: 11 Nov 2008 04:23 AM CST AP - Vodafone Group PLC, the world's biggest mobile phone company by sales, said Tuesday its net profit fell 35 percent during the first half of the financial year. But shares rallied as the company announced 1 billion pounds ($1.56 billion) in cost cuts and stuck to its full-year profit forecast despite the global economic downturn.

QE2 runs aground near Southampton (AFP) Posted: 11 Nov 2008 03:38 AM CST AFP - One of the world's most famous cruise ships, the Queen Elizabeth 2, briefly ran aground on Tuesday before arriving in its home port for the last time, its owners said.

Britain's Brown gets further opinion poll boost (Reuters) Posted: 11 Nov 2008 02:51 AM CST Reuters - British Prime Minister Gordon Brown's handling of the economic downturn provided another boost to his Labor Party's fortunes on Tuesday with an opinion poll putting him only six points behind the opposition Conservatives.

Sex charge dropped against British teen's boyfriend (AFP) Posted: 11 Nov 2008 01:50 AM CST AFP - An Indian court has dropped sexual assault charges against the boyfriend of murdered British teenager Scarlett Keeling, whose body was found on a beach in the resort state of Goa.

British PM calls on US to reject protectionism (AP) Posted: 10 Nov 2008 06:51 PM CST AP - British Prime Minister Gordon Brown urged the United States on Monday to avoid moves toward protectionism in response to the world financial crisis, but said London will be Washington's closest ally in dealing with the slowdown.

Report: Low-cost carriers could win from recession (AP) Posted: 10 Nov 2008 11:45 AM CST AP - The international tourism industry faces a tough year in 2009 but the Middle East is providing a bright spot for the sector, according to two reports released Monday to coincide with one of the biggest events on the international tourism industry calendar.

C&W 1H net profit down on restructuring costs (AP) Posted: 10 Nov 2008 11:36 AM CST AP - British telecommunications company Cable & Wireless PLC said Monday net profit for the first half of the year fell 20 percent because of one-time restructuring costs, which masked an otherwise strong growth in earnings. Shares rallied on the news.

HSBC writes down assets by $4.9 billion in 3Q (AP) Posted: 10 Nov 2008 11:34 AM CST AP - HSBC Holdings PLC, Europe's largest bank by market value, said Monday it had been forced to write down the value of its assets by $4.9 billion in the third quarter, as the cost of bad loans in the U.S. continued to mount and the credit market faltered.

Govt lifts ban on civilian nuclear exports to India (AFP) Posted: 10 Nov 2008 10:27 AM CST AFP - The government has lifted a ban on exporting sensitive nuclear technology to India for civilian projects, it said Monday, after an international accord to relax rules in September.

Radical preacher Abu Qatada re-arrested in Britain (AP) Posted: 10 Nov 2008 10:19 AM CST AP - Extremist preacher Abu Qatada, once called Osama bin Laden's ambassador to Europe, faces a hearing Wednesday after being re-arrested in West London.

Producer prices plunge at record rate in October (AFP) Posted: 10 Nov 2008 10:16 AM CST AFP - The cost of goods leaving factories fell at a record rate in October, official data showed Monday, sparking speculation about more interest rate cuts and pushing the pound to a record euro low.

Pound falls to all-time euro low (AP) Posted: 10 Nov 2008 09:14 AM CST AP - The pound fell to an all-time low against the euro Monday after British producer price data raised expectations that the Bank of England has room to cut borrowing costs even further.

Editor re-ignites privacy debate after Mosley case (AFP) Posted: 10 Nov 2008 08:39 AM CST AFP - One of the most powerful editors in Britain reignited a row over privacy Monday, accusing a judge of bringing in a privacy law "by the back door" in a ruling involving world motorsport chief Max Mosley.

Fallen rocker's song included in UK test material (AP) Posted: 10 Nov 2008 08:22 AM CST AP - A British exam board is recalling a high school music test that included convicted child molester Gary Glitter's music in its "suggested listening" section, board officials said Monday.

Nationwide's mortgage lending fell 72 pct in 1H (AP) Posted: 10 Nov 2008 07:48 AM CST AP - British lender Nationwide Building Society said Monday mortgage lending fell 72 percent in the first half of its financial year, as home buyers were deterred by a crashing property market and mortgage rates were boosted by the credit crunch.

Report claims care at Birmingham children's hospital 'third-class' (AFP) Posted: 10 Nov 2008 05:33 AM CST AFP - One of Britain's leading children's hospitals has been heavily criticised in a report by senior doctors.

British manufacturing costs dive in October (AP) Posted: 10 Nov 2008 05:19 AM CST AP - Britain's manufacturers saw raw material costs fall by a record amount during October, fueling market expectations that the Bank of England could cut interest rates to their lowest level in more than 300 years.

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