United Kingdom

Leading British banks to be put to tougher stress tests

Britain's leading banks will soon be put to tougher stress tests by the Bank of England as part of the government's efforts to prevent the repeat of the 2008-type economic crisis, according to a report published by Sky News.

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Terrace Hill to raise £170 million to fund major deal

Glasgow-based property developer Terrace Hill has announced plans to raise £170 million to fund a major acquisition deal and boost the development of its current commercial projects.

Terrace Hill, controlled by oil industry entrepreneur Robert Adair, has agreed to acquire London-based rival property developer Urban & Civic in a reverse takeover deal worth around £95 million.

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New mortgage market rules take effect

The U. K.'s new mortgage market rules that aims to prevent a repeat of the 2008 real estate crisis have finally taken effect.

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Business lending by British banks tumbles sharply in March

Lending to businesses by major British banks tumbled sharply in March, while net personal loans and overdrafts increased in the same month for the first time in five years, figures published by the British Bankers' Association (BBA) revealed.

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Starbucks’ UK sales slip 3.4%

After enjoying sixteen years of strong growth in the UK, American coffee giant Starbucks suffered a notable fall in sales in the same European country last year.

The UK subsidiary of Starbucks announced on Friday that its sales slipped 3.4 per cent to £399.4 million ($670.6 million) in twelve months ended September 2013, from £413.4 million in the previous year.

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