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Business & Commerce channel

Business & Commerce

Bank slashes UK growth forecasts

The Bank of England has painted a gloomy picture of the state of the UK economy.

HSBC profits slump 28%

HSBC has reported a 28 per cent drop in pre-tax half-yearly profits as a result of the global credit crisis.

US jobless rate jumps to four-year high

The US unemployment rate has risen to its highest level in more than four years, official figures show.

UK inflation surges to 4.4%

UK consumer inflation has reached its highest level since records began in January 1997, on the back of soaring food and energy prices, official figures show.

Global meltdown hits Google's profits

Google's second-quarter profits rose by less than expected, fuelling concerns of a slowdown in the online advertising sector.

Gas bills could go up by 60%

Energy prices in the UK could surge by as much as 60 per cent over the next few years, an independent report has warned.

Oil could reach $200, analyst warns

Oil prices could reach $200 a barrel within the next two years, a Goldman Sachs report has found.

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from 999Westcountry.com

<<>>

Inflation-busting water bill rises announced Hard-pressed homeowners in the region could be forced to pay around £1,000 a year for water bills under proposals submitted by South West Water (SWW).

Westcountry hill farming under threat The fragile economic viability of hill farming in the Westcountry may be made worse by the unintended consequences of the new Single Payment Scheme (SPS), a study has found.

Torbay brewery scoops top business awards A Paignton brewery has enjoyed a wonderful night at the inaugural Federation of Small Businesses Awards for Devon.

Diesel costs motor ahead The Westcountry has the highest diesel prices in the country, a new report has revealed.

Major step forward for £120m Exeter Science Park Plans for a new £120m Science Park on the outskirts of Exeter have taken a major step forward with the announcement that the land for the project has been purchased.

Dragon-defying mums wrap up with baby towel idea A Westcountry business producing special towels to dry babies after bathtime has become so successful that they are taking orders from all over the globe.

Passengers criticise FGW in satisfaction survey The train firm which serves travellers in the Westcountry has been heavily criticised in a passenger satisfaction survey.

Devon firm makes Sunday Times list Clinton Devon Estates has been told it's among the best companies to work for in Britain and the very best nationally for its efforts to protect the environment.

Can the region still milk a profit out of its' dairy industry? Concerns over the future of the region's dairy industry still exist, although the launch of a model milk contract by the National Farmers' Union has helped ease some of those worries for the time being.

£80m Regional Infrastructure Fund Launched An £80 million fund to pump-prime major infrastructure projects in the South West has been declared "open for business".

Marine sector is sailing on a crest of a wave The South West's leisure marine industry is now worth more than £700m to the region, new figures show.

Report predicts bright future for UK farming A major new report has predicted a rosy future for the British farming industry.

Why do we have the country's highest water bills? Consumers in the Westcountry currently pay the country's highest water bills. So how can South West Water, a company which made a profit of £156.8m last year, justify its sky-high rates?

Devon poultry firm sold Devon poultry business Lloyd Maunder has been purchased by 2 Sisters Food Group for an undisclosed sum.

Bond Pearce solicitor wins top legal award Trainee solicitor Andrew Pheasant has won the prestigious Top Student Award from the Devon and Somerset Law Society.

Stone makes Sunday Times Rich List Devon soul singer Joss Stone is one of the youngest women on the 2007 Sunday Times Rich List.

South West records strong economic growth The productivity of the South West economy is on the rise, according to the latest Government figures for 2006.

Plymouth could become South West's premier city Plymouth could soon challenge Exeter's traditional claim to be the South West's first city, experts say.

Passengers face hefty train fare rises Train passengers in the South West face above-inflation increases to fares, says the Association of Train Operating Companies (ATOC).

Flybe announces new flight routes Flybe, the Exeter-based low-cost airline, has announced it is launching nine new routes from its two airports in Devon and Cornwall.

Major cash boost for South West farmers Troubled farmers in the South West have been given a welcome cash boost.

Student sells dotcom business for $1.25m A Bath student who developed a video streaming website in his bedroom has sold his business to US firm Handheld Entertainment for $1.25m (£630,000).

Devon has diverse economy Devon has a diverse economy with potential for future growth if it can continue to improve skills levels and attract new business to the area, research shows.

South West bosses most 'confident' Employers in the South West are the most confident in the UK when it comes to taking on new staff, according to recruitment firm Manpower.

Migrant workers increase by 50% The number of migrant workers employed in Devon jumped by about 50 per cent in 2005/06, a new report suggests.

Fresh heartbreak for South West farmers Hard-hit South West farmers are facing further heartbreak after the government announced new levies on animal disease.

Exeter University creates £246m for region A new study reveals the economic benefit brought to the South West by the University of Exeter.

Business & Commerce - around the network

Citigroup posts huge losses

Banking giant Citigroup has posted huge losses as the global credit crisis continues to hit US banks.

IMF predicts slower world growth

The global economy will grow at a much slower pace in the next two years, the International Monetary Fund (IMF) has warned.

Google is world's most powerful brand

Internet search giant Google is the world's most valuable brand, a survey has revealed.

Developing economies produce 41% of global output

The World Bank estimates the combined output of the world's economies was $59 trillion in 2006.

China to be world's largest economy in 2025

China could overtake the United States by 2025 to become the world's largest economy, a survey has predicted.

Troubled Northern Rock posts £168.7m loss

Newly-nationalised UK bank Northern Rock made a £168.7m loss last year as a result of the global credit crisis.

First Direct stops mortgages

First Direct has closed its doors to new customers after the bank admitted being swamped by an unprecedented number of applications for its home loans.

The world's most profitable firms

It was another year of record revenues for the world's largest corporations, but which firms are the most profitable?

The changing face of advertising

As online consumer activity continues to increase, the role of advertising through the traditional media of TV is changing.

London climbing up the wealth league

London is on course to become the world's fourth largest city economy by 2020, a report has predicted.

Swearing at work boosts team spirit

Allowing staff to swear at work can benefit them and their employers, new research shows.

Citigroup is 'world's largest firm'

US banking giant Citigroup has been named the largest company in the world, by Forbes business magazine.

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