Several hundred more British banking jobs will be lost in the coming months following an announcement by UBS, the Swiss financial group, that it plans to slash its global workforce by 8,700 staff by the end of next year.
In next week's Budget, Alistair Darling, the Chancellor, is expected to announce that annual public borrowing is set to rocket to almost £175 billion over the next two years.
The debt-laden Tiscali, one of Britain's biggest internet service providers, may not be able to survive in its current form, according to auditors.
Purchases of food, drink, clothing and footwear bolstered overall spending last month, more than offsetting declines in purchases of big-ticket items such as furniture, according to the British Retail Consortium.
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