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Sharp fall in UK retail sales

Retail sales fell sharply in June, cancelling an earlier surge and confirming that consumer spending is slowing under the pressures of tighter credit conditions and higher living costs

Weak lending adds to housing gloom

The British Bankers Association says mortgage approvals for house purchase fell from 27,499 in May to 21,118 in June, 67% below numbers a year earlier

Brown seeks US support for action on prices

John Hutton, UK business secretary, is lobbying White House officials, US presidential candidates and oil companies to ensure backing for a consensus on oil prices

MPC split three ways on rate decision

The Bank of England’s monetary policy committee was split three ways in its vote to leave interest rates on hold this month, but most members felt raising rates to fight inflation was not yet necessary given the weaker outlook for economic growth

Tax avoidance surge could cost £1bn

A technical note from the Treasury exposes the disagreements with business that have dogged its attempts to forge a new foreign profits regime in the UK

Darling outlines rescue regime

The chancellor reassures investors that their rights will not be stepped on by the proposed system, which would give authorities powers to seize control of a failing bank

Comment: Cherished myths have fallen victim to economic reality

There is a danger that the macro­economic models now in use in central banks operate like a Maginot line. They have been constructed in the past as part of the war against inflation. They do not provide banks with the right tools to be successful, writes Paul De Grauwe

Comment: Banks must lose their safety net

Regulators claim it is important for market discipline that lenders should be allowed to fail – but won’t let them do so in practice, says Paul Amery

John Kay: Brown’s rules are a flawed basis for policy

The effect of the target is to focus attention on the target rather than its purpose. The target is met; the objective is not, writes John Kay

Analysis: In search of fresh capital

Although the financial sector is finding it ever harder to raise funds, other listed groups can buy their way through the downturn

Editorial comment: Beating a retreat

UK business property demand at decade low

Luxury market feels the pinch

Lex: UK budget deficit

Editorial Comment: Made to be broken

Public finances worsen

Food security policy explored in study

Tories seek scrutiny of fiscal rules

Treasury sees storm clouds gathering

London attracts record foreign investment

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