VENTURE CAPITAL POST

Britain is losing its faith in the chancellor George Osborne as he is readying for the annual budget in the midst of global challenges facing the nation's economy. Poor economic conditions prevented the chancellor from achieving his election targets.

UK’s chief medical officers lowered further the recommended drinking levels to only 14 units for men and women as it found that any amount of increase in alcohol consumption leads to increase in cancer risk.

The British government has urged the U.S. Supreme Court to review an appeals court ruling against BP Plc (BP.L) over a 2010 Gulf of Mexico oil spill that produced one of the largest class actions in American history.

The National Audit Office, a government-spending watchdog, said taxpayers lost money in the government's share sale of Lloyds Banking Group and not a profit, Bloomberg reported.

Royal Bank of Scotland revealed its company strategies on Friday to return over GBP45 billion it received from the British government as bailout money.

A report from the Daily Telegraph said the UK government would be deciding on the future of Royal Bank of Scotland by next month.

The British goverment said in a statement today that through UK Financial Investments Ltd, it has sold its 6% of its issuing stock in Lloyds Banking Group Plc for GBP3.2 billion.

The UK government announced to float Royal Mail, a 360 year old postal service company, next month and launch initial public offering by October.

The UK government has set aside GBP250 million to construct cancer therapy centers in the country which are already available in other European countries and the United States.