At the European Union summit, sanctions on Russia is all the talk. U.K. prime minister David Cameron says the pressure must be kept on Russia while President of the European Council, Donald Tusk, stated that EU needs a consistent strategy towards Russia. CNBC's Hadley Gamble reports.» Read More
Britain’s ruling coalition is to modify its plan for a rigid £26,000 annual cap ($42,190) on the total benefits that can be claimed by any household, amid fears it could force thousands of poor families out of their homes in London, the FT reports.
The UK’s Prime Minister, David Cameron, is coming under increasing pressure to reshuffle his cabinet just days after returning to work from a two-week break.
BMW will invest 500 million pounds ($818 million) in its UK factories as it prepares its manufacturing network for the rollout of its next-generation Mini.
The International Monetary Fund (IMF) has cut its growth forecast for the UK economy to 1.5 percent for 2011, but has said it continues to support the coalition government’s spending cuts.
The UK government will send a warning to unions Monday that it is prepared to change the law should it deem it necessary to avoid the threat of coordinated strikes.
Investors should buy UK banks now while they are cheap as their share prices will rise significantly over the next two years, a report published by Societe Generale said; but other analysts contradicted this view because of the gloomy economic outlook.
The Bank of England (BoE) was warned by the British Chambers of Commerce (BCC) on Monday that raising interest rates before November risked damaging the recovery of the UK economy.
The Organisation for Economic Cooperation and Development (OECD) warned the British government on Thursday that it must ease the pace of deficit reduction or risk damaging the recovery of the UK economy.
The UK’s business secretary Vince Cable has warned Britain’s banks they could face new taxes if they fail to meet lending targets for small businesses under the government Project Merlin agreement.
The FT reports future bonus and dividend payments by UK banks will depend upon convincing regulators the handouts will not dent capital reserves or undermine sound risk management, according to the head of the city watchdog.
Britain isn’t cutting its structural deficit by enough or doing it quickly enough and may need a bailout from its European partners, investor Jim Rogers told CNBC.
A referendum on voting reform and local elections looks set to test the UK’s ruling coalition as analysts predict that the Liberal Democrats will be punished at the ballot box.
UK Prime Minister David Cameron ruled out any bid by former Prime Minister Gordon Brown to take the top job at the International Monetary Fund (IMF) on Tuesday, saying Brown was in denial about the economic crisis.
“It’s the brave action of this government that has lifted our country out of the danger zone,” said UK Prime Minister David Cameron in a speech in Manchester on Monday. The problem with this message is the data just keeps getting worse.
David Cameron is to write to European Union leaders urging them to adopt a British plan for growth, at a time when some officials fear he is in danger of being sidelined in a two-speed Europe, the Financial Times reports.