Bank suffers slump
BARCLAYS today revealed a 33% first half profits slump as the bank suffered £2.8bn of credit crunch write-downs.
The group posted pre-tax profits of £2.75bn for the six months to June 30 after racking up another £1.1bn of credit crunch impairments on top of the £1.7bn reported during the first three months.
Chief executive John Varley said the profits decline was “acutely disappointing”.
Growth forecast cut
THE International Monetary Fund (IMF) has cut its forecast for UK economic growth over the next two years, adding more pressure on the Bank of England to reduce interest rates when it meets today.
The IMF predicted the UK would grow by 1.4% in 2008 and just 1.1% in 2009 - down from its July forecasts of 1.8% and 1.7% respectively.
Top price for fuel
BRITISH motorists are forking out far more for their fuel than drivers in the major European vehicle-owning countries, a new survey has revealed.
While Britons were paying around £119p a litre for petrol last month, Spanish drivers were only being charged 96p, according to comparison site uSwitch.com.
The research said only 48% of petrol bought in Spain goes to the government in tax, compared with 59% in the UK.
Action vote to begin
TRAIN managers at a rail company start voting today on whether to launch a campaign of industrial action in a long running row over pay.
Members of the Transport Salaried Staffs Association at Arriva Trains Wales could ban overtime from the end of the month if they back action.
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