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News 35

Government opens UK investment event

As its economy stutters, the British government is looking to deep-pocketed Asian investors to keep the motors running.

Foreign companies announced over $8 billion investment in the country on Wednesday, just ahead of a series of summits held by the business ministry that is taking advantage of the London Olympics to attract a roster of international executives and sell the case for investing in Britain.

In a deal that will create more than 900 jobs, the government approved a £4.5 billion contract with a consortium led by Japan's Hitachi to build 92 intercity trains at a newly-built factory in County Durham, northern England.

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