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The UK economy will contract the most in almost three decades next year and house prices are now falling at the fastest pace since at least 2002, two industry reports showed. Gross domestic product will drop 1.7 percent in 2009, the most since 1980, the Confederation of British Industry, the UK's biggest business lobby, forecast in a report. The average asking price for a home fell 7.1 percent ... english.people.com.cn
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Warren Buffett's Berkshire Hathaway Inc. on Friday reported a 77 percent drop in third-quarter earnings, hurt by declining insurance profits and a $1.05 billion investment loss. Net income fell to $1.06 billion, or $682 per Class A share, in the quarter... www.sfgate.com
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