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  • London Financial District

    Those who took part in the manipulation of the London interbank offered rate (Libor), the key benchmark rate, could face criminal prosecution even though Libor manipulation is not yet a criminal offense.

  • Greek Parliament

    The London real estate market was abuzz. A wealthy Greek banker wanted to spend up to £60 million (nearly $100 million) for a home, and was in a hurry to make a deal. Evangelos Meimarakis, the president of the Greek Parliament, is among the more than 30 Greek politicians under investigation for possible tax evasion and the illegal accumulation of wealth, the New York Times reports.

  • UK PM Flunks History Questions on Letterman Thursday, 27 Sep 2012 | 6:32 AM ET
    David Cameron

    Worries that David Cameron, the first sitting UK Prime Minister to appear on the ”Late Show with David Letterman”, would embarrass himself were realized when he incorrectly answered key British history questions.

  • UK Businesses Cheer Government Blitz on Red Tape Thursday, 27 Sep 2012 | 4:01 AM ET
    A pony stands next to an ice cream van on Dartmoor, circa 2000. (Photo by Glyn Howells/Getty Images)

    The new U.K. Business Minister, Michael Fallon, has promised a “drive to cut red tape” to boost business growth to help the country out of recession. For one ice cream man this can’t come soon enough.

  • The interior of the Lloyd's of London building and the Lutine bell, center, is seen through a fish-eye lens in the City of London.

    U.K. insurance group Lloyd’s of London, which comprises nearly 90 syndicates, reported an interim profit of 1.53 billion pounds ($2.48 billion) for the first six months of the year after a lack of major claims from natural catastrophes.

  • The European Union (EU) flag, left, flies alongside the Spanish national flag.

    As Spain tries desperately to meet its budget targets, it has been forced to embark on the same path as Greece, introducing austerity measures,  cutting jobs, salaries, pensions and benefits. As a result, some residents are forced to salvage food from garbage cans.

  • The Trade-Off That Created Germany’s Job Miracle Tuesday, 25 Sep 2012 | 1:49 AM ET

    More than a quarter of the work force in Spain or Greece is without jobs, but there is a city on the Danube north of Munich that has the opposite problem: not enough workers, the New York Times reports.

  • UK Deficit Could Surpass Greece: Morgan Stanley Monday, 24 Sep 2012 | 9:35 AM ET

    Bad news for U.K. politicians clinging to the notion that the nation’s AAA debt rating indicates a clean bill of financial health. Morgan Stanley expects the British budget shortfall to earn the dubious distinction as Europe’s largest in 2013-14, surpassing even the deficit in troubled Greece.

  • In Britain, Austerity Collides With Pension System Friday, 21 Sep 2012 | 1:27 AM ET
    London Housing

    It may be the age of austerity for many in Britain. For a former doctor, Geoffrey Lipman, it is anything but.  Dr. Geoffrey Lipman, who is retired, gets about $78,000 a year in his government pension.

  • Is It Time to Kill Off UK’s Zombie Companies? Thursday, 20 Sep 2012 | 3:17 AM ET
    Zombie

    As any horror film buff knows, zombies are difficult to kill. And the zombie companies which are increasingly causing concern in the U.K. are also going to be tricky to get rid of.

  • Olympics Over, London Wants Super-Yachts to Stay Wednesday, 19 Sep 2012 | 8:55 AM ET
    The 414ft luxury yacht 'Octopus' owned by Microsoft co-founder, Paul Allen, is moored in South Quay on the Isle of Dogs on July 23, 2012 in London, England.

    Upgrading their docks and beefing up luxury harbor services, London's marinas are seeking to capitalize on the games, which  demonstrated that the city is a viable super-yacht venue.

  • Lawrence Summers, Director of President Barack Obama's National Economic Council

    Former U.S. Treasury Secretary, Larry Summers has argued the U.K. faces a lost decade like Japan unless the government changes its economic policies, but economists and experts have told CNBC that the reasons Summers cites are wrong.

  • No Easy Answers on How to Fix the Banks in Europe Sunday, 16 Sep 2012 | 9:20 PM ET
    A European Union, left, and a Hungarian national flag, fly outside the Magyar Nemzeti Bank, Hungary's central bank, in Budapest.

    Beleaguered countries like Spain have been counting on a quick and neat way to fix their banks without taking on more crippling debt. The New York Times reports.

  • Funeral Costs Surge 71% in Britain Since 2004 Friday, 14 Sep 2012 | 3:21 AM ET

    A new report finds that the cost of funerals his risen by 71 percent in the past eight years in the United Kingdom, leaving 17 percent of people struggling to afford a funeral.

  • Costa del Sol region in Spain.

    Spain's economic crisis has prompted a movement within Spain dubbed it “rurbanismo,” a term invented to describe the reverse migration from city to country that has stemmed a generations-old trend that has long been the usual pattern in most advanced industrial economies, the New York Times reports.

  • Could a Canadian Be the Next Bank of England Governor? Wednesday, 12 Sep 2012 | 5:22 AM ET
    Governor of the Bank of England Mervyn King

    A high-profile job with a hefty salary, travel, and an almost guaranteed knighthood (unless you really mess up) will be advertised in The Economist this week.

  • Chairman of the Federal Reserve Ben Bernanke speaks at the Federal Deposit Insurance Corporation headquarters, on February 16, 2012 in Arlington, Virgina.

    In September 1992, the Federal Reserve culminated a long-running effort to stimulate the sluggish economy by cutting its benchmark interest rate to 3 percent, the lowest level it had reached in almost three decades.

  • Bets on European Bonds Paying Off for Funds Tuesday, 11 Sep 2012 | 10:56 AM ET
    Euros

    When fear gripped the European markets in April, the money manager Robert Tipp decided to buy more Portuguese government bonds. He figured that European officials wouldn’t let the country turn into another Greece.

  • Barclays New CEO Shake-Up: What to Expect Friday, 7 Sep 2012 | 2:31 AM ET
    Antony Jenkins, chief executive officer of Barclays PLC.

    Antony Jenkins, the new chief executive of Barclays, is to announce a shake-up of the business early next year which will shrink investment banking division Barclays Capital (BarCap) and bankers’ paydays.

  • Security Service Recruits Outside Help on Q’s Gizmos Thursday, 6 Sep 2012 | 3:55 AM ET

    Q, the twinkly-eyed boffin who provides James Bond with his trademark high-tech gadgetry, faces fresh competition. The heads of British intelligence are appealing to small and medium-sized technology companies to help to provide the gizmos they need for covert operations, the Financial Times reports.