Is the UK Economy Heading for a Massive Recession?UK Prime Minister Gordon Brown suspended a homebuyer tax and proposed spending 1 billion pounds sooner than planned to help reverse Britain's worst housing slump in at least 18 years. The economic slowdown has sent the pound to a record low against the euro. Britain is heading ...

Mortgage lenders approvals slumped to a record low in July as the "Credit Crunch" bit harder than ever. Mortgage approvals sank to 33,000, the lowest reading since the series began in April 1993, from a downwardly revised 35,000 in June.Yet net consumer lending came in stronger than expected, with over 4.3 billion in July from ...