Economist Jim O'Neill has called for the creation of a northern supercity to close the economic gap with London, the FT reports.» Read More
The UK’s central bank, the Bank of England, is expected to hold interest rates at their current level of 0.5 percent on Thursday as the global economic crisis appeared to worsen and the International Monetary Fund warned that a second global recession could not be ruled out.
The British Prime Minister David Cameron defended the coalition government’s austerity plans on Wednesday telling delegates at the Conservative party’s annual conference in Manchester: “Our plan is right, and our plan will work.”
When chancellor of the exchequer, George Osborne, got up to speak at the Conservative party conference on Monday, he knew he had to tread a fine line between optimism that the British economy could recover and wasn’t going to fall into a "double-dip" recession, versus facing down calls from the Liberal Democrats to ease public spending cuts and those on the right of his own political party calling for an end to the 50p tax rate at the very least.
More than two thirds of business managers feel that a UK recession is now likely to happen with business confidence at a low, according to a new report.
The UK’s finance minister, Chancellor of the Exchequer George Osborne vowed to continue the coalition government’s austerity program on Monday telling delegates at his Conservative party’s annual conference in Manchester, UK, that Britain would “ride out the storm.”
With almost every day marking a new milestone in the euro zone debt crisis, how can the UK avoid being dragged in?
The UK's Chancellor of the Exchequer, George Osborne, must wait to see what the economy does over the next few months before taking any more major steps, Vicky Pryce, senior managing director at FTI Consulting, told CNBC, prior to the minister's speech at the Conservative's annual conference in Manchester.
The UK is likely to see more quantitative easing next week or at the latest by November, according to one economic advisor.
Like Americans trying to raise quick cash by unloading their unwanted goods, the federal government is considering a novel way to reduce the deficit: holding the equivalent of a garage sale, reports the NY Times.
It is the policy that dare not speak its name: the printing press. The time has come to employ this nuclear option on a grand scale. The alternative is likely to be a lost decade, Martin Wolf writes in the FT.
LONDON—Greece may never be able to pay off its huge debts, but its bonds, long scorned by investors, are suddenly being gobbled up by hedge funds. After a number of investors struck gold by betting against French banks, many have turned their attention to the hot yet risky euro zone trade of the moment: buying Greek government bonds that traders say are changing hands for as little as 36 cents for each euro of face value.
London Metal Exchange Chief Executive Martin Abbott confirmed to CNBC on Thursday that the exchange is being at least tentatively pursued by other, unnamed firms, but said that there was "no pressing need" for a sale.
Germany's parliament has approved reforms to the European Financial Stability Facility (EFSF) that would allow the fund to participate in the primary market and to recapitalize European banks in a much-anticipated vote in the Bundestag.
Greece may never be able to pay off its huge debts, but its bonds, long scorned by investors, are suddenly being gobbled up by hedge funds, the New York Times reports.
Stocks have rallied in recent days on hopes that European Union leaders and policy-makers are close to an agreement that would significantly increase the firepower of the European Financial Stability Fund (EFSF)-- essentially the euro zone's rescue fund for troubled member states -- so that it can help deal with the zone's long-simmering debt crisis.
The UK needs a new economic plan for the 21st century that rewards the real wealth creators and not just "predators who are just interested in the fast buck", the Labour party leader - the UK’s main opposition party - Ed Miliband said on Tuesday.
The London Stock Exchange has triumphed in its attempt to take over LCH.Clearnet, the London-based clearing house, after the clearer’s board favoured the UK bourse over Markit, the rival bidder and another person familiar with the matter said on Tuesday.
As Shadow Chancellor Ed Balls wrapped up his speech to the Labour party conference on Monday, one thing became abundantly clear: Labour still have a trust issue when it comes to the economy.
The wreck of a British merchant vessel, sunk during the second world war, looks set to yield the largest haul of precious metal at sea, the FT reports.
European leaders headed home from a weekend of meetings in Washington vowing bolder steps to address widening anxiety about the Continent’s debt burden. But it will most likely be weeks or even months before any new action comes to pass. The NYT reports.