UK Business News

Monthly mortgage rise undone by 27% year fall

July gross mortgage lending rose slightly by 5% compared with June but the market will remain subdued in 2008

Asda slashes pay-as-you-go mobile phone tariff

Supermarket giant claims to offer the cheapest deal in the UK just as Vodafone raises its prices for customers

• Asda and Tesco launch price war over milk

• Asda fears tough times despite sales jump

Tesco slammed over 'unfair' food adverts

Supermarket giant publishes 'misleading' promotions over price comparisons with rivals, Asda and Morrisons

Investors spooked amid renewed fears over banks

Concerns were inflamed by bad news on price pressures from Germany and the US and worries over fresh financial turmoil

World Business News

US prices rise at fastest in 27 years

US producer prices rose 1.2 per cent in July compared with the month before, forcing America to face up the prospect of 'stagflation'

German goods in sharpest price gain since 1974

Producer inflation rises to 8.9% in the year to July after fuel price increases the cost of goods leaving factories

• Germany and France economies face recession

• Germany still the king of exports

Origin tells investors to reject £6.55bn bid

The Australian coal seam gas producer says joint venture partners will provide better value than BG Group's offer

• Origin Energy rejects £13bn bid from BG Group

• BG Group launches £6.7bn hostile bid for Origin

Brickmaker hit by 31% profit slump

World's biggest brickmaker Wienerberger forced to shut factories as US and European construction sites are halted

Analysis

Mike Turner does the business at BAE

Britain’s largest defence contractor has been transformed under its chief executive, thanks to his renegotiation of MoD contracts

• Short reign of luck and leverage

• It was blowing in the wind

Speedo is the real star of the Games

The body-hugging suit worn by swimmers should deliver an Olympic boost to sales once the Beijing Games are over

Tempus: Fresnillo ... Mears Group ... Wellstream

Fresnillo shares fall ... No protection for Mears from profit-takers ... Wellstream signs Petrobras deal

Money 

Mortgage market is set to shrink by a fifth

Analyst claims UK lending will fall by 20 per cent by the end of 2008, with borrowers yet to feel full crunch impact

• House buyers fail to take up a bargain

• Landlords to withdraw billions from buy-to-let

Old-fashioned home economics

As household bills soar, the Women's Institute offers some valuable lessons in thrift

• Ten ways to beat the crunch and live for free

• With costs rising, here is how to save money on petrol

One in three cash Isas losing money

Savers warn that billions of pounds are languishing in accounts that are losing value in real terms after inflation hit new highs

Law 

Morgan Stanley sued over mortgage venture

The investment banking giant is facing a £9m lawsuit after it abandoned plans to enter the Irish mortgage market

• Morgan Stanley to close UK sub-prime lender

• Morgan Stanley upbeat despite 57% profits fall

Trial collapses after juror turns sleuth

Juror had been to death scene and taken photographs and researched forensic science techniques on the internet

• Juries: the evidence is clear...dump them

• There is a Miss Marple inside all of us

Surge in repossession orders clog up courts

Courts are having to delay adoption hearings and personal injury claims to deal with a surge in mortgage repossessions

business travel 

Time for a business trip crunch?

Some financial firms have issued travel bans or restricted the use of business class while others travel as if nothing had happened

Why your airfare is different from your neighbours

Times Online's business travel editor meets the man at the head of a company that is the technological glue behind travel

• The end of laptop rage at security

• Oil crisis? What oil crisis?

Singapore Airlines named as best business class

Asian carrier beats off competition from BA and Air NZ. Virgin Atlantic picks up award for Heathrow Clubhouse