RealNews

British construction activity falls

Construction activity in Britain declined in June at the fastest rate in 11 years, a supply institute said Wednesday, and a major home builder said it had been unable to raise more capital — both signs of worsening conditions in the battered housing industry. Shares of the builder, Taylor & Wimpey PLC, dropped 50 percent after its disclosure on its inability to raise more capital, and the entire home construction sector sagged. Full Story

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