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MONEY ON THE MIND: The UK PM is trying hard to rope in a team that helps him combat the impending financial doom

MONEY ON THE MIND: The UK PM is trying hard to rope in a team that helps him combat the impending financial doom

British employers warn of long and deep recession

Britain is facing a deeper and longer recession than previously thought, the country's major employers' federation said on Monday. The Confederation of British Industry, or CBI, said it expected the economy to contract by 1.7 per cent in 2009. In September, it forecast a shallow recession in late 2008 followed by 0.3 per cent growth next year.

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