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Plans for a new high-speed rail network, featuring 250mph trains, have been announced by Transport Secretary Lord Adonis. A White Paper is recommending a route for a new line between London and Birmingham with a future extension to northern England and Scotland. The public will be consulted on ...Read More

A third runway at Heathrow airport would provide a

More than 60 senior economists have signed two open letters that back the chancellor’s decision to delay government spending cuts until 2011. The letters in the Financial Times say that any measures to trim the budget deficit this year could risk dragging the country back into recession. They ...Read More

By Alex Lawler LONDON (Reuters) - Oil climbed toward $78 a barrel on Tuesday, adding to the previous session’s advance, as concern eased that Dubai’s debt problems would set back the global economic recovery. European shares rose early on Tuesday as investors’ appetite for relatively risky equities increased, ...Read More

By TARA LOADER WILKINSON They are rare, beautiful, valuable and a girl’s best friend but traditionally diamonds haven’t really been considered an asset class in their own right. Diamonds do not have the “safe haven” status of gold, and their prices are more volatile than the precious metal. ...Read More

By Tracy Rucinski and Rhys Jones MADRID/LONDON (Reuters) - British Airways and Spain’s Iberia announced on Thursday a preliminary agreement for a $7 billion merger to create the world’s third-largest airline by revenue. The deal, which the companies hope to close by the end of 2010, ends the ...Read More

The following is the full text of the statement by U.S. Treasury Secretary Tim Geithner at the G-20 meeting of finance ministers and central bank governors: I want to start with the state of the global economic recovery. Yesterday’s jobs numbers in the United States reinforced that this ...Read More

LONDON — The European Union hesitated on Friday to put a number on how much it was willing to spend on helping developing nations convert to low-carbon economies, even though it agreed at a summit that those nations should get 50 billion euros ($73.7 billion) of public funds. ...Read More

Another three days of strikes at Royal Mail will take place next week, says the Communication Workers Union (CWU). The next wave of action will begin on 29 October. The news came after the first nationwide postal strike for two years got under way earlier. The CWU and ...Read More

By BRETT ARENDS Much of the financial news this month has revolved around the one-year anniversary of the Panic of 2008 — the collapse of Lehman Brothers, the takeover of Merrill Lynch, the government’s bailout of Wall Street. But there’s another anniversary for investors. It is 10 years ...Read More