Analyst sentiment says UK recession now ‘likely as not’
	UK recession is now considered almost as likely as not by economists, a poll revealed yesterday. The median probability attached to UK recession in the next 12 months has jumped to 45%, in the latest poll from Reuters.

Scottish retail sales growth in July outperforms the rest of UK

Annual growth of retail sales remained much stronger in Scotland than in the UK as a whole in July, according to a surprisingly buoyant industry survey published today.

Footsie rattled by fears over US home financing

British shares ended the session mired in the red yesterday, led by a sharp fall in bank stocks after fresh concern about the future of the two largest US home finance groups rattled investors.

Rumours of bid from Sweden light up SSE’s share price

Share in energy supplier Scottish & Southern gained as much as 3.6% at one stage yesterday as traders cited market talk of bid interest.

More consumers head for discount grocery retailers

Fear of recession, rising fuel bills and belt-tightening are driving increasing numbers of consumers into discount grocery chains in a bid to reduce their weekly shopping bills, the latest figures from TNS Worldpanel revealed yesterday.

Interest rates must not be cut until inflation is under control

Timothy Besley, a member of the Bank of England's Monetary Policy Committee, said yesterday that the central bank must not cut base rates until inflationary pressures are brought under control.

Job fears as M&S looks to cut redundancy benefits

Marks & Spencer today confirmed plans to cut back redundancy benefits for its 70,000 UK staff.

	Investor snub for Bradford & Bingley cash-call
	Price targets as low as 25p were being set by brokers yesterday for Bradford & Bingley after underwriters were left holding more than 72% of the shares in its £400m rights issue.

Woolworths share price soars 11%

Woolworths Group’s share price surged more than 20% at one point yesterday, after it rejected an offer from Iceland Foods founder Malcolm Walker for its retail division.

	Crude oil down as Fay veers away from Gulf
	Crude oil prices dived below $113 a barrel in volatile trading in London and New York yesterday, as Tropical Storm Fay swirled toward the east coast of Florida, veering away from oil installations in the Gulf of Mexico.

Crystal ball gazing can distort one’s view of reality

Alf Young on Tuesday: The latest quarterly forecast from the British Chambers of Commerce is packed with heavy numerical symbolism. Over the next two or three quarters, the BCC expects UK growth “to be slightly negative or zero”, making a technical recession “a distinct possibility”.

Into chartered territory in China

The “welcome” sign sponsored by Royal Bank of Scotland that greets passengers stepping off their plane in Hong Kong is just one reminder of the territory’s strong historic links with the United Kingdom, and Scotland in particular.

Skandia predicts 70% fall in buy-to-let market

The amount of privately-owned rented accommodation in the UK could shrink by almost 70% over the next few years, as more investors flee the buy-to-let market and release up to £18bn, a report from savings group Skandia predicted yesterday.

Five angels granted Braveheart options

Braveheart Investment, the Scottish business angel group, granted five directors options over 628,763 shares at the end of its first year on the Alternative Investment Market.

NPL signs deal to develop power station

NPL Estates, the Glasgow-based firm that specialises in redeveloping brownfield sites, said yesterday it has reached a deal with Welsh Power to build an 850-megawatt gas turbine power station at the Hillhouse International Business Park in Thornton, Lancashire.

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