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A look at economic developments around the world

A look at economic developments around the world

A look at economic developments and stock-market activity around the world Monday:
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LONDON _ British children's clothing retailer Adams Childrenswear Ltd. is on the brink of bankruptcy, a spokeswoman for the 75-year-old company said. Adams would be the latest in a series of big British retail brands to be hit by the economic turmoil _ 99-year-old general store Woolworths, tea and coffee merchant Whittard of Chelsea and music chain Zavvi already have been forced to file for administration. Meanwhile, Hometrack housing researchers said home prices fell by nearly 9 percent in 2008 and predicts they will fall further next year. And the Chartered Institute of Personnel and Development predicted that employers will lay off at least 600,000 people in Britain next year, making 2009 the worst year for job cuts since 1991. The gloomy reports stoked expectations that the Bank of England will make further interest rate cuts next year, driving the pound to a record low of


Updated : 2021-01-25 19:13 GMT+08:00