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Reuters Business News: HK Singapore ranked world’s freest economies in ‘07 - MSN Money
Australia clinched the third spot in the latest Index of Economic Freedom survey for 2007 conducted by the Wall Street Journal and The Heritage Foundation. Hong Kong topped the rankings for the 13th consecutive year with an 89.3 score out of 100 given its low taxes and highly flexible labor market.
Reuters Business News: Tesco tops forecast with Christmas sales - MSN Money
However Finance Director Andrew Higginson urged the Bank of England not to “over-apply the medicine” of raising interest rates saying consumers were under pressure even before a surprise increase in the cost of borrowing earlier this month. “I’d be concerned that the Bank of England do not over-apply this medicine ” he told Reuters in a telephone interview.
Reuters Business News: Oil retreats toward $52 on doubts over OPEC moves - MSN Money
U.S. crude lost 44 cents to $52.55 a barrel by 0733 GMT reversing the past two sessions’ gains which came as investors covered short positions in anticipation of an emergency OPEC meeting. London’s Brent crude was down 34 cents at $52.78.