US holiday sales make solid start

The US holiday shopping season got off to an encouraging start, with sales on the day after Thanksgiving up 3% from last year.

Data from ShopperTrak showed sales rose to $10.6bn on Friday, although it was the smallest gain since 2005. Read more

Economy warning from China leader

By James Reynolds
BBC News, Beijing

China’s President Hu Jintao has warned of the effects of the global financial crisis on his country.

Mr Hu gave his warning at a meeting of the Politburo and his words have been made public by the state media. Read more

Recession ‘difficult to predict’

Business Secretary Peter Mandelson has said it is impossible to predict how deep or painful the recession will be.

The government has forecast that Britain’s economy will recover in 2010 but Mr Mandelson said the recession’s severity may be underestimated. Read more

VAT rise for 180,000 small firms

About 180,000 small businesses will be worse off as a result of next Monday’s temporary reduction in VAT.

Firms which take advantage of the government’s flat-rate VAT scheme will find they have to hand over a higher proportion of the VAT they collect. Read more

Top consumer representative quits

By Paul Lewis
BBC Radio 4′s Money Box

The chairman of a top consumer advisory body has resigned after just six months in the job.

Lord Lipsey took over as chairman of the Financial Services Consumer Panel in June and wanted to expand its role to champion consumer issues. Read more

Shake up for Scottish home sales

By Bob Howard
BBC Radio 4′s Money Box

Anyone selling a residential property in Scotland will have to give potential buyers a Home Report from 1 December.

It includes a survey, valuation, energy assessment and a questionnaire to be compiled by the seller. Read more

US stores lure hard-up shoppers

US stores have opened early and offered steep discounts to encourage consumers to part with their cash as the Christmas shopping season kicks off.

The day after the Thanksgiving holiday is viewed as an important test of how willing consumers are to spend. Read more

Legal challenge to HBOS takeover

A last-ditch attempt to block the planned Lloyds TSB takeover of Halifax Bank of Scotland has been launched.

A group of businessmen, bank customers and shareholders is to seek a legal ruling over Business Secretary Lord Mandelson’s decision to allow the deal. Read more

Mail union fearful over closures

Union leaders have accused the Royal Mail of planning to shut 13 sorting offices by stealth with the loss of up to 5,000 jobs.

The Communication Workers’ Union is balloting members on strike action over the closures. Read more

Spain unveils 11bn euro stimulus

Spain has launched an 11bn euro (£9.2bn) plan aimed at boosting the economy and creating 300,000 jobs.

The plan, which represents 1.1% of the Spain’s Gross Domestic Product (GDP), is part of the European Union’s 200bn euro stimulus announced on Wednesday. Read more

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