George Osborne, UK finance minister, discusses the threat of the Scottish National Party, the U.K. economy and the upcoming elections.» Read More
David Cameron, Britain’s prime minister, will on Thursday warn that the single European currency could unravel in a way that “carries huge risks for everyone” unless the eurozone’s 17 members move rapidly towards full fiscal and political union.
Plans to give shareholders more power over boardroom pay will be given centre stage in the Queen’s Speech, as highly paid executives face another week of lambasting from shareholders, the Financial Times reports.
Voters in the United Kingdom punished the coalition government’s two political parties at local elections across the country on Thursday in what will be seen by many as a rejection of the government’s austerity.
Repairing the economy and regulating banks is “the biggest challenge the Bank [of England] has faced for decades,” Sir Mervyn King said on Wednesday in a speech in which he conceded for the first time he should have “shouted from the rooftops” about risks before the financial crisis.
While the French presidential elections are drawing the attention of most in Europe, local elections in the UK, though unlikely to change the shape of Britain’s coalition government, could put pressure on its economic policy.
This is a live blog of the Leveson Inquiry, which was set up by Prime Minister David Cameron following the phone-hacking scandal plaguing News Corp.
This is a live blog of the Leveson Inquiry in London, where James and Rupert Murdoch are appearing in front of the inquiry into media ethics in the UK, set up by Prime Minister David Cameron following the phone-hacking scandal plaguing News Corp.
The UK chancellor aims to launch an “Osborne bond”—a 100-year debt issue or even a perpetual gilt that never matures—to take advantage of the country’s historically low interest rates, the Financial Times reports.
Rupert Murdoch is under pressure over his Sun tabloid after the arrests of several senior staff in a corruption probe, but whistleblowers inside his media empire may pose more of a threat than the public outrage that towards his business empire that he was forced to give up his closed its sister paper.
A June 2008 e-mail to James Murdoch discussed in frank terms the scale of phone hacking at News International, The New York Times reports.
David Cameron has called for a truce in the battle over bank bonuses in an attempt to repair fractured relations with the City and draw a line under weeks of public acrimony. The FT reports.
Stephen Hester has revealed that the dramatic restructuring of Royal Bank of Scotland has cost 38 billion pounds ($60.5 billion) in a rallying memo to staff days after the embattled chief executive waived a 1 million pounds bonus, the Financial Times reports.
Herbert Hoover, you were right. That is the consensus of all right-thinking people on UK fiscal policy, writes Martin Wolf in the FT.
"Europe needs a two-speed euro," Dr Gerard Lyons, chief economist at Standard Chartered, said on CNBC, "You don't have any room for flexibility, any room for manoeuver and that's why here at Davos, one of the big worries that people have is that this European problem is going to run."
The governor of the Bank of England said he would be willing to implement further rounds of asset purchases – also known as quantitative easing - in an effort to rebalance the UK economy and issued a stark warning to the financial sector ahead of bonus season in the City of London.
David Cameron’s pledge to curb executive pay and stop “rewards for failure” is set to face its biggest test, as Royal Bank of Scotland prepares to offer a bonus of more than £1 million ($1.54 million) to its chief executive, even though the state-controlled bank’s share price has almost halved in a year, the Financial Times reports.
The United Kingdom will retain its triple-A credit rating this year thanks to the Bank of England’s policy of quantitative easing and demand for UK gilts, City-based analysts told CNBC.
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.
There was a wide-ranging change of the guard in Europe in 2011. In 2012, there could be an even bigger shift, with several key countries facing possible changes at the top.
The brawl has made for cracking entertainment. It's been a super-fun read. But it's time for government officials in the United Kingdom and France to shut their traps and get their heads back into the game of saving the euro zone's economy.