A planned 30 per cent rise in local government tax poses a new threat to the survival of beleaguered shop owners, according to the British Retail Consortium (BRC). Business rates paid by retailers will rise to 7 billion by 2010, from 5.45 billion in the last financial year, under proposals to be voted on by Parliament today.
Weary retailers muster to fight business tax plans

One of the world's leading economists has given warning that the United States is facing a decade of financial misery, with the number of unemployed Americans set to continue to rise for years.
Leading economist fears decade of weakness in US

Oil traders are seeking to hire at least five more supertankers this month to hoard crude at sea, bringing the total amount being stored to enough to supply Britain for 35 days, according to the world's largest operator of the vessels.
Oil traders demand ships to store crude before prices rebound

The European Central Bank (ECB) is expected to spurn demands for a further drastic cut in interest rates this week, despite evidence that the eurozone is sliding into a brutal slump.
European Central Bank set to reject demands for significant cut in rates

Harbinger Capital, the activist US hedge fund headed by Philip Falcone that shot to fame in 2007 with a lucrative bet against subprime mortgages, joined the list of funds restricting withdrawals for investors a day before the end of last year. Harbingers main fund rose almost 43% in the first half of last year but lost all its profits and ended the year down 27.1%.
Harbinger puts limits on withdrawals

The first major pay revolt since the economic downturn started is expected this week with Bellway's directors likely to be told their bonuses and pay rises are not acceptable.
Activist shareholders get tough over directors' pay

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