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Pound Craters After Latest Grim Stats

British currency falls to $1.56 amid recession fears

By Jason Farago,  Newser Staff

Posted Oct 24, 2008 5:08 AM CDT

(Newser) – The British economy shrank by 0.5% last quarter, all but confirming that the UK is in its first recession since 1991, reports the Times of London. The decline is greater than expected, and this week both the prime minister and the head of the...   Read full story »

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