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  • New Scandal for UK Banks, Compensation Claims Loom Friday, 29 Jun 2012 | 5:26 AM ET
    european_bank_teller_200.jpg

    UK banks were faced with further damage to their revenues and reputations Friday after the UK financial regulator announced that they would have to pay compensations to customers over mis-selling of interest rate swaps.

  • Property Tycoon Tchenguiz 'Will Recover' From Fraud Probe Wednesday, 27 Jun 2012 | 7:07 AM ET

    Property tycoon Vincent Tchenguiz insists he will bounce back following the decision by the UK’s Serious Fraud Office to drop charges against him in relation to the collapse of Kaupthing Bank.

  • 15-Year Harry Potter Spell Brings Riches to Publisher Tuesday, 26 Jun 2012 | 9:39 AM ET
    Harry Potter and the Half-Blood Prince

    On June 26 1997, Harry Potter and the Philosopher’s Stone was first published by Bloomsbury Publishing, with an initial run of only 500 copies in hardcover. On the 15th anniversary of that date, Nigel Newton, the CEO and founder of Bloomsbury published called Harry Potter "transformative" for the company.

  • UK's Top Sports Stars Caught in Tax Crackdown Saturday, 23 Jun 2012 | 9:16 PM ET
    tax_magnifying_glass.jpg

    Wealthy investors including Sir Alex Ferguson, Sven-Göran Eriksson and a host of sports stars and City figures could be liable for huge individual tax bills after an attempt to reduce their liabilities backfired.  The Financial Times reports.

  • French President Francois Hollande (L) speaks with German Chancellor Angela Merkel (R)

    The French President is determined to show the French that he is willing to stand up to Berlin, to push the German Chancellor to contribute even more than before toward a lasting solution of the euro mess. The New York Times reports.

  • BoE June Vote on More Liquidity Closer Than Expected Wednesday, 20 Jun 2012 | 4:53 AM ET
    Governor of the Bank of England Mervyn King

    The Bank of England is on the verge of approving another round of monetary stimulus, with Governor Mervyn King supporting an extra 50 billion pounds ($78.5 biillion) of gilt purchases, minutes to its June 6-7 policy meeting showed on Wednesday.

  • US Watchdog Hits at ‘Risky’ London Wednesday, 20 Jun 2012 | 2:58 AM ET
    JP Morgan London Offices

    US lawmakers and regulators have attacked London as a source of financial crises and promised tougher crossborder rules in the wake of $2 billion of trading losses at the UK unit of JPMorgan Chase., the FT reports.

  • WikiLeaks' Assange Seeks Asylum at Ecuador Embassy Wednesday, 20 Jun 2012 | 1:56 AM ET
    Julian Assange

    WikiLeaks' founder Julian Assange has taken refuge in Ecuador's embassy in London and asked for asylum, officials said on Tuesday, in a last-ditch bid to avoid extradition to Sweden over sex crime accusations.

  • european_union_crack2_200.jpg

    The head of the European Central Bank and other euro zone leaders worked on Saturday on a grand vision for the euro zone meant to reassure investors and allies that flaws in the currency union will be addressed quickly.

  • Blair Calls on Germany to Stand by Euro Thursday, 14 Jun 2012 | 4:47 AM ET
    Tony Blair

    The former long-standing UK prime minister, Tony Blair, a self-professed pro-European, said the risk of unrest applied to Europe as a whole, the Financial  Times reports.

  • Why Not Buy Up 100% of the UK Debt Market? Wednesday, 13 Jun 2012 | 3:50 AM ET
    London Financial District

    The UK economy is in recession. The euro zone remains in crisis. The European Union is the UK’s biggest trading partner. To what extent are euro zone troubles dragging the UK down with them?

  • UK Media Inquiry Heats Up: Prime Minister Next Wednesday, 13 Jun 2012 | 2:17 AM ET
    David Cameron

    British prime minister David Cameron faces the prospect of appearing for a full day at the Leveson Inquiry into press standards and ethics on Thursday, rounding off a week in which the elite of British politics will have given evidence into their dealings with the media.

  • Spectacular Swimming Pools Tuesday, 12 Jun 2012 | 4:40 PM ET
    Not so long ago, a swimming pool was not much more than a cement swimmin’ hole. It used to be that you’d make a rectangular- or kidney-shaped concrete hole in the ground, fill it with water, and dump in some chemicals. But my how they’ve changed, from contemporary zero-edge pools like those formerly seen only in resorts to pools that imitate wetland ponds. Private swimming pools have become more sculptural and architectural, as seen in  for a luxury residential high-rise. The following collectio

    The following collection shows dazzling outdoor pools, including one belonging to a famous actor/producer, pools with views of oceans and nature, and a few fabulous indoor examples.

  • In Europe, Banks Borrowing to Stay Ahead of the Tide Monday, 11 Jun 2012 | 10:31 AM ET
    Euro bills

    As Europe works to prop up Spain’s wobbling banks, its leaders still face a problem that plagues the Continent’s increasingly vulnerable financial institutions — a longstanding addiction to the borrowed money that provides the day-to-day financing they need to survive.

  • Cameron to Urge Merkel to Act on Euro Zone Thursday, 7 Jun 2012 | 2:14 AM ET
    British Prime Minister David Cameron leaves 10 Downing Street on August 11, 2011 in London, England. Mr Cameron hosted a COBRA meeting and a cabinet meeting earlier this morning to discuss the current unrest that has spread across the country. Parliament has been recalled following four days of rioting across the UK.

    David Cameron will tell Angela Merkel on Thursday that she needs to act now to bring the eurozone back from the brink of disaster – a message likely to stoke irritation in Berlin and other eurozone capitals, the Finanical Times reports.

  • Spain Holds a Trump Card in Bank Bailout Talks Thursday, 7 Jun 2012 | 1:21 AM ET
    Spain

    The bargaining has begun over a deal to rescue Spain’s ailing banks, confronting Europe with urgent choices about whether to try to enforce onerous bailout terms on Madrid as the crisis spreads to the region’s largest economies. The NYT reports.

  • Greece Warns of Going Broke as Tax Proceeds Dry Up Wednesday, 6 Jun 2012 | 5:52 AM ET

    As European leaders grapple with how to preserve their monetary union, Greece is rapidly running out of money, the New York Times reports.

  • UK Economic Outlook Weakening as Central Bank Meets Tuesday, 5 Jun 2012 | 11:28 PM ET
    british_pounds_200.jpg

    The outlook for the UK’s economy has steadily worsened, giving the members of the Bank of England’s Monetary Policy Committee (MPC) plenty to chew on when they meet Wednesday and Thursday.

  • UK Recession Will Not Last Long: Bank of England Wednesday, 30 May 2012 | 12:12 PM ET
    London Financial District

    The UK economy will recover somewhat this year and the next, but the situation in the euro zone has big effects on it, Spencer Dale, a member of the Monetary Policy Committee and chief economist at the Bank of England, told CNBC in an interview on Wednesday.

  • Most Aid to Athens Circles Back to Europe Wednesday, 30 May 2012 | 12:41 AM ET
    European Central Bank

    The European bailout of 130 billion euros ($163.4 billion) that was supposed to buy time for Greece is mainly servicing only the interest on the country’s debt — while the Greek economy continues to struggle, the New York Times reports.