Tesco has slipped to its worst growth performance since the last recession as shoppers spurn its premium lines, the supermarket said yesterday.
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SHARES in Woolworths tumbled 40 per cent to 1p on fears the High Street retailer could fall into administration on Monday – just hours before the pre-Budget report.
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In a speech in New York, the prime minister also suggested UK interest rates would be cut again soon
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The 15 countries using the euro have slumped into a shallow recession in the face of the worst financial crisis in generations, the European Commission estimates.
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New figures show that Germany, Europe’s biggest economy, has fallen into recession.
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A severe downturn is unavoidable and the recession in the UK will be “painful and prolonged”, the British Chambers of Commerce (BCC) has said.
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Borrowing soared to a record high in September as the nation’s finances came under more pressure, official figures showed.
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