Google has provided an explanation for its recent love-affair with UFOs.
The California-based Internet giant said Monday that it was paying homage to HG Wells, a British science fiction writer who was born on September 21, 1866. HG Wells, who wrote "War of the Worlds", is considered the father of the science fiction.
Google said, Wells "encouraged fantastical thinking about what is possible, on this planet and beyond."
The Office for Fair Trading has imposed a fine of Â£200 million on more than hundred British leading construction companies for rigging bids on building projects through out the country.
The OFT said112 construction companies pushed the cost of building schools, universities, hospitals and all that up by engaging in illegal bid rigging activities from 2000 to 2006.
The regulator added the companies, which included Balfour Beatty, Galliford Try and the like, artificially inflated the bill.
Britain's leading real estate investment trust, Land Securities Group Plc, sold off its 33 per cent stake in the Birmingham's Bullring shopping complex to Australia's Future Fund in a deal worth £210 million.
The London based Land Securities said the Melbourne-based sovereign wealth fund presented a net yield of 6.85 per cent.
The Bullring, which has around 160 shops and restaurants, is the most visited shopping center in Britain. The Bullring generates about £45 million per year in rental income.
UK witnessed a jump of 0.6 per cent in the house prices in September supported by an improved confidence in the housing market and scarcity of available homes for sale.
As per property web site, Rightmove, the cost of a house in England and Wales during the period of five weeks to September 12 jumped to 223,996 pounds, only 1.5 per cent less than September 2008.
On an average price of a house soared 0.9 per cent in London from previous month, while southeast of England and East Anglia recorded an increase of 1.5 per cent and
Europe may witness widespread shortage of milk in the recent future as diary farmers particularly in the UK are quitting due to low prices of milk.
Statistics from DairyCo unveiled the fact that Britain imported 62,003 tonnes of cheddar during January and June, up from 48,633 tonnes in the same period of 2008.
Small farmers are leaving the milk industry, saying they have not been able to compete and pocket profit from their cows. Moreover, small farmers are showing inability in rivaling supermarket chains.
The Kazak-based mining group Eurasian Natural Resources Corporation said it would acquire Camec, an African resources group in a deal worth £584 million or 20p-a- share in cash.
The purchase will be funded through its available cash resources which counts up to $2 billion.
AIM-listed CAMEC produces copper and cobalt at operations in Congo. It is also developing other natural-resources projects such as coal mining.
ENRC, one of the leading producers around the globe, already possesses about 55.2 per cent of the CAMEC shares.
The British government is initiating a consultation about the future of debt management companies, which at present are largely unregulated Unscrupulous debt management companies charge unreasonable rates of interest from borrowers as the schemes that aim at helping those struggling to return their debts are mostly unregulated.
At present, the number of debt management firms has soared to 150 as compared with 40 in 1999. Moreover, around 150,000 people resort to those debt management schemes every year.
The private equity group, Blackstone, sold half of its 57 per cent stake in the Cineworld, in a move that dragged shares in the British cinema chain down by 9 per cent. Blackstone sold the 50 per cent of its stake in the Cineworld, which runs 75 sites in Britain, for around £62.9 million.
Cineworld, which was created in 1995, said its half-year profits soared to £11.6 million, up by 33 per cent as compared with £8.7 million last year.
The Guitar Hero 5, which arrived without much pomp& show, has proved to be a very good music game.
The Guitar Hero 5 includes most tracks from the 1990s and current decade.
The Guitar Hero 5 proved to be very tough against The Beatles: Rock Band, which had entered the market around Beatlemania hype.
It may be noed here that the designers of the Guitar Hero 5, called Harmonix, are no longer involved in the franchise and now make a competing Rock band series for MTV instead.
The UK Atomic Energy Authority said agreed to sell its wholly-owned commercial arm, UKAEA Ltd., to the defence and energy support services firm Babcock International in a deal worth £50 million.
UKAEA Ltd., which oversees nuclear clean-up work at three sites in Britain and provides consultancy services worldwide, has a workforce of around 230 people.
Sony has slammed the BBC Watchdog report on the PlayStation 3 consoles and the alleged high rate of hardware failure known as "Yellow Light of Death".
The BBC's consumer rights show Watchdog claimed that PS3s suffered from inherent hardware problems the company was not satisfying its customers by fixing those problems.
During the show Watchdog team also provides Sony with a technical report for three PS3s which had succumbed to hardware failure.
British government has proposed to overhaul the so called draconian libel laws to update them for the internet age.
Some parts of existing laws on defamation dates back to 1840s and allow a claim every time a libel is published. That means someone could claim for libel every time a web page is accessed.
The secretary of state for justice, Jack Straw, said, "Existing defamation law needs to be updated so it is fit for the modern age, and it is important we listen to views on the best way to achieve this."
Britain's biggest builder, Balfour Beatty, said Thursday that it would acquire the US professional services business Parsons Brinckerhoff in a deal worth $626 million. London-based Balfour Beatty said it would fund the purchase of Parsons Brinckerhoff through a £353 million rights issue.
The deal will help the British builder in expanding its business in Australia, China, India and South Africa.
UK retail sales flattened in August from July as shoppers remained close fisted due to soaring unemployment and gloomy economic conditions.
Data compiled by the Office for National Statistics revealed that annual rate of rise in retail sales dropped to 2.1 per cent in August as compared with 2.9 per cent in July.
However, retail sales in August soared 2.1 per cent in august as compared with the same period of 2008.
The monthly increase of 0.2 per cent in retail sales was worse than analysts' projections of 2.8 per cent annual increase.
British bank Barclays PLC has sold $12.3 billion of its most toxic assets to Protium Finance, which is registered in the Cayman Islands and will be run by two former executives from Barclays, viz. Stephen King and Michael Keeley.
Protium Finance is supported by US$450 million of new funding and a $12.6 billion loan from Barclays.
Some 45 investment bankers of Barclays have relinquished their positions to form an asset manager called C12 Capital Management that has contract with Protium. Barclays will pay a $40m annual management fee to Protium Finance.
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