Deutsche Bank reshuffled its management board late on Wednesday, consolidating restructuring authority under co-Chief Executive Anshu Jain.» Read More
Barclays' shareholders took up just 19 percent of new shares in the British bank's recently announced fundraising, meaning the bulk of the money will be provided by mostly new "anchor" investors led by Qatar.
Soaring food and fuel prices pushed Britain's inflation rate to nearly double the central bank's 2 percent target in June, official data showed on Tuesday, boosting talk of interest rate hikes ahead.
The outlook for UK housing improved slightly in June, but a sharp downturn in the economy could see the foundations of the British real-estate market start to crumble, the Royal Institute of Chartered Surveyors said Tuesday.
Britain's Barratt Developments will cut nearly a fifth of its workforce to cope with the housing market downturn, joining other builders taking similar measures, and will not pay a final dividend for 2007-08.
The Bank of England kept its main interest rate steady at 5 percent on Thursday, as widely expected, despite rising inflation.
The Bank of England's Monetary Policy Committee will find itself in no easier position on Thursday, as it meets again to decide on UK interest rates. With rising inflation and falling growth, there seems no alternative but to wait, see and keep writing letters.
Two more UK homebuilders announced job cuts on Wednesday as housing woes deepened and with the industry warning the job losses in the sector could climb steeply.
Falling sales in a weak home market have left British firms facing their worst cashflow situation since records began in 1992, a survey from the British Chamber of Commerce showed on Tuesday.
British housebuilder Taylor Wimpey has failed to raise the extra capital it said it would seek just two days ago, citing tough market conditions, sending its shares and those of its rivals plummeting.
British bank Barclays raised $8.9 billion from investors including Qatar and Japan's Sumitomo Mitsui and aims to use half the cash to rebuild capital and half to pursue growth.
Bank of England Deputy Governor John Gieve announced on Wednesday he will quit prematurely next year just as the government unveiled the biggest shake-up of the central bank's financial stability remit in more than a decade.
UK retailers J. Sainsbury and Woolworths reported sales that disappointed slightly, sparking comments that British consumers may be orienting towards discount retailers, analysts said on Wednesday.
Britain's inflation rate rose in May to its highest since the Labour government came to power in 1997 but the Bank of England played down the risk of early interest rate rises by saying the path for rates was still "uncertain."
A four-day strike over pay by hundreds of tanker drivers hit Shell fuel stations across Britain on Friday after last-ditch pay talks broke down.
Britain's financial watchdog said investors with significant short positions in companies issuing rights will have to disclose those positions, as it unveiled a review of the efficiency of the capital-raising process.
Europe's biggest independent mobile phone retailer Carphone Warehouse has seen falling broadband demand due to a slowdown in the housing market and is cautious about the year ahead, it said on Thursday.
Sentiment in Britain's housing market improved marginally in May, a survey showed on Tuesday, but prices continued to fall at close to their fastest rate in at least 30 years.
British retail sales grew at their fastest pace in four months in May as warm, sunny weather encouraged consumers to splash out on new clothes and summer food and drink, a survey showed on Tuesday.
Some may point to how RBS has stronger risk management than rivals, but the problem for many shareholders is the lack of oversight over CEO Fred Goodwin.
British consumer confidence fell further in May as people got even gloomier about the current state of the economy, a survey showed on Wednesday.