British online fashion retailer ASOS posted a 14 percent fall in annual profit after the strength of sterling hit sales growth.» Read More
The United Kingdom is likely already back in recession and may see unemployment approach three million before the end of the year, economic think tank the Ernst & Young Item Club forecast on Monday.
The investigation into MF Global is intensifying as federal authorities unearth new details and confront potential obstacles in their hunt for roughly $1.2 billion in customer money that disappeared. The New York Times reports.
Business levels are retuning to normal after four years of decline, a leading survey of financial services firms found on Monday, but there will be more job cuts in the City of London this quarter as uncertainty over the euro zone debt crisis continues.
Concerns about the crisis in the euro zone and the effect of sweeping regulatory changes on bank lending have pushed confidence in London’s commercial property market to the lowest level in two years. The FT reports.
UK government bonds, having seen record lows in the 10-year yields at the end of 2011, will continue to be a sought-after safe haven asset as long as the euro zone's debt crisis remains unresolved, according to bond experts.
UK chief financial officers (CFOs) see the break - up of the European single currency as the greatest threat to their businesses in 2012, a survey from the accountancy firm Deloitte showed on Tuesday.
American shareholders are suing Britain's Lloyds Banking Group and the bank's former executives, saying they were misled over its rescue of fellow lender HBOS in the depths of the financial crisis in 2008.
Ten percent of the 40,000 construction workers employed for the 2012 Olympic Games were previously out of work, according to a report by the Olympic Development Authority (ODA).
Banks are the key to fixing Europe's ongoing economic crisis, and they must be helped to lend while recapitalization of European financial institutions takes place early next year, analysts said on Tuesday.
IKEA is going into the business of selling walls, floors and roofs, in addition to furniture, housewares and rugs. The international home-goods retail monolith recently announced plans to build an entire neighborhood in Stratford, East London.
George Osborne has called time on Royal Bank of Scotland’s ambitions to be a force in global investment banking, as the chancellor backed sweeping reforms to ensure taxpayers never again have to rescue the banks. The FT reports.
Using the allure of the Olympics to get more children to play sports is a top target of the London 2012 Olympic Games organizers, but figures from a UK government agency show the number of 16- to 19-year olds playing sports at least three times a week has fallen sharply.
Rupert Murdoch’s son James received and responded to e-mail messages in 2008 that referred to “a nightmare scenario” of legal repercussions from widespread phone hacking at the tabloid The News of the World, the NYT reports.
UK Prime Minister David Cameron on Monday defended his decision to veto European Union treaty changes at last week's summit of EU leaders, saying he was faced with a choice of treaty change without safeguards for Britain, or no treaty.
The UK had no choice but to opt out of further treaty changes and did the right thing by exercising its veto, analysts told CNBC Friday.
US lenders pushing short-term loans that charge up to 5,000 per cent interest per year are targeting low-income UK borrowers abandoned by high street banks. The Financial Times reports.
A break-up of the single European currency would have severe consequences on the UK economy, with unemployment pushing above 4 million, the pound appreciating sharply and major banks failing, analysts at ING wrote in a market note.
New technologies, open platforms, and better governance are helping to create cities that are both environmentally responsible and economically attractive. We are increasingly witnessing the growth of intelligent cities - cities which increasingly deliver services with the aid of so-called smart technologies.
There is clearly a risk that the UK will head into recession in the final quarter of the year, the Bank of England's Monetary Policy Committee member Ben Broadbent told CNBC Thursday.
UK inflation, currently at 5 percent, is hitting those aged between 45 and 65 known as the baby boomer generation hardest, a new report has found.