British Economy Shrinks More Than Expected

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LONDON — Britain’s economy shrank more than previously expected in the fourth quarter of 2011, but some economists said that improving conditions in Europe could keep the country from falling back into a recession. Add to Portfolio Go to your Portfolio » The economy shrank 0.3 percent from the third quarter of last year, more than the expected 0.2 percent decline, because companies held back on investment amid concern about consumer demand, the Office for National Statistics said Wednesday. While another recession was an imminent threat at the end of last year, some economists revised their views recently and now expect the economy to return to growth during the first three…

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Public housing in crisis as funding runs short

PUBLIC housing residents could face higher rents and future works could be funded by the private sector or charity as the Baillieu government struggles to resolve the financial crisis gripping the system. A report released yesterday by Victorian Auditor-General Des Pearson found an unsustainable funding model and no long-term planning […]