UK business confidence plunges on eurozone fears

Business confidence in the UK has plunged on fears over the eurozone crisis and the prospect of a Greek exit, according to a survey from Lloyds Banking Group.

UK GDP growth for 2011 revised down to 0.8%

Household spending crept up 0.5% during the last three months of 2011 and government spending grew strongly, but it was not enough to prevent the wider British economy from contracting.