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Housebuilders Barratt and Berkeley post another set of strong results but their shares slide on warnings of market slowdown

There were more good numbers from UK housebuilders today as Barratt Developments and Berkeley Homes posted rising profits despite signs of a slowdown in the housing market. Barratt, the UK’s largest housebuilder, said pre-tax profits rose 12 per cent to £765.1million in the year to June 30, while revenue rose 9.8 per cent to £4.65billion.

Fed sees pickup in economic growth, but inflation remains muted

WASHINGTON (Reuters) – The U.S. economy expanded at a modest to moderate pace in July through mid-August but signs of an acceleration in inflation remained slight, the latest survey conducted by the Federal Reserve showed on Wednesday. “Prices rose modestly overall across the country,” the central bank said in its Beige Book report of the