Convinced that consumers are finally ready to shop online for Picassos in addition to Pez dispensers, Sotheby's and eBay are teaming up again. The NYT reports.» Read More
The Bank of England (BoE) cut its 2011 GDP growth forecast for the UK for the seventh time since the end of the recession on Wednesday as more weak economic figures suggested the economy was struggling to maintain momentum.
The insured costs of the riots that have rocked the United Kingdom for four days look set to exceed 100 million pounds ($163 million), according to early estimates from the Association of British Insurers (ABI).
London's streets were quiet Tuesday night after three nights of rioting, but police battled with looters in several other UK cities, including Manchester, Liverpool, Nottingham and Birmingham as the country's violent unrest continued for a fourth night.
Areas of London that saw some of the worst rioting in decades over two nights were quiet overnight on Tuesday Peter Guest, staff writer at CNBC.com. ¿Hackney was like a ghost town there was a police presence but it wasn¿t particularly significant, he added, suggesting the violence had moved out of the capital to the UK¿s northern cities.
Central London's police cells are full to the brim as more than 200 people were arrested on a third night of disorder in the U.K.'s capital. Some 16,000 police officers will hit the city's streets Tuesday night, as the government tries to stem the rising tide of violence.
August is famously the month when most of Europe hits the beach. Markets are quiet, parliaments are closed, and very little happens.
Over the last month, many Americans watched from a distance in horror or amusement as it became evident that the News Corporation regarded Britain’s legal and political institutions as its own private club.
Prudential, the UK-based insurer and asset manager, reported a better-than-expected 25 percent rise in half-year profit to 1.06 billion pounds ($1.72 billion) Friday.
European leaders are working through the night, as much of the stock plunge can be attributed to fears of an Italian bankruptcy, bond default and run on Italian banks, reports CNBC's Simon Hobbs.
Profits and sales rose at consumer goods giant Unilever in the second quarter of 2011, despite pressure on margins from rising materials costs, the company announced Thursday.
UBS threatened to scale back its presence in London if the government followed advice from a heritage body that effectively blocked the redevelopment of its City of London headquarters, reported the FT.
Amid signs that the European debt crisis -- which already has seen Greece, Ireland and Portugal seek aid from the European Union and International Monetary Fund -- is now spreading to Italy, analysts at Goldman Sachs are predicting that while painful, debt consolidation will succeed as soaring borrowing costs force governments to act.
UK bank Northern Rock would cease to exist under proposals submitted to the government by one of the leading contenders to take the bank back into private ownership, it emerged on Thursday.
Commodities supplies may not be able to keep pace with demand in the future mining giant Anglo American wanred on Friday as it reported first half profits which smashed expectations.
The UK housing market is performing worse than expected this year, the chief executive of building materials company Travis Perkins told CNBC Friday.
James Murdoch, the under-fire chairman of BSkyB, was kept on with the unanimous support of the board, the chief financial officer of the cable television company told CNBC Friday.
London has been waiting for the Olympics since they were awarded to the UK's capital by the International Olympics Committee in 2005.
This year is one in which BP consolidates and gets its strength back, chief executive Bob Dudley told CNBC after disappointing results that sent its share price lower on Tuesday.
A UK Member of Parliament has written to the board of News Corp calling for Rupert and James Murdoch to be suspended over phone hacking at the company.
A legal battle over alleged computer hacking of a US marketing company by a News Corp subsidiary has been referred to US authorities by a senior lawmaker, the FT reports.