Credit crunch dulls shine of England's northeast
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It was held up by politicians two years ago as a model for economic revival for others in Europe. Now England's northeast is a frontline for the impact of a credit crisis that began in California.
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Not even a World Series win helped. New England's outlook turned decidedly gloomy over the last year as consumer confidence plunged farther than any other part of the country, according to data released today. The Conference Board, a nonprofit economic research group in New York, said its index of consumer confidence for New England dove to 77.9 in November, down ...
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UK economic growth may be 1% lower in 2008 and 2009 because of the credit crunch, a report says.
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Gloom over the British economy spread on  Monday as the Confederation of British Industry slashed its  growth forecasts and more evidence emerged of falling house  prices.
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Mortgage lending slows to its lowest level in a year in August, but credit card spending continues to boom, Bank of England figures show.
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Concerns about a slump in UK house prices may damage chances of selling Northern Rock, a report says.
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The UK's biggest mortgage lender, the Halifax, says house prices fell by 0.5% in October.
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Northern England was once known for the gritty factories, shipyards and coal mines that drove its economy, then for their wrenching departure and the despair and unemployment that followed.
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The UK remains vulnerable to further shocks from the credit crunch, the Bank of England warns.
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Winds of up to 70mph bring travel chaos to the north-east of England and Cumbria.
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NEW YORK - Strained by a tight credit market, the nation's economy should stumble along at a slower pace in coming months, but it may find help from lower interest rates and possible employment gains.
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MORTGAGE lending fell again last month, a further sign that the housing bubble has burst. About Â£25.4bn was lent by banks and building societies last month, down 4% on August and the second monthly fall in
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Even borrowers with strong credit are feeling the pinch as home values fall and monthly payments rise.
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Business & money: Spending binge looks likely to be followed by a big rise in personal insolvencies and falling house prices
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The Bank of England on Friday provided emergency financial support to the first major British bank to be severely hit by the credit crunch sparked by the US home loan crisis.
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Business & money: Higher interest rates and June's dismal weather take toll on spending on Britain's high streets.
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Write-downs at a British mortgage lender and a new warning from the Bank of England prompt cautious trading in the UK; continental response is more muted.