Topic: Britain

French President, Francois Hollande has cast himself as the European leader pushing hardest to forge a growth-oriented “new path” through the euro zone’s grinding debt crisis, pitting him against the austerity-minded German Chancellor Angela Merkel, the New York Times reports.

European shares were called to open lower on Friday, ending another dismal week for equities, as investors learned that at least half of the euro zone’s member states are making contingency plans for a Greek exit from the single currency.

On the same day official figures showed the biggest slide in retail sales figures in two years and one member of the Bank of England’s interest rate-setting committee indicated it would restart its asset purchase program if the economy weakened significantly, 10-year sovereign debt yields fell to record lows.

The concept of Eurobonds as one tool to tackle the euro zone debt crisis has re-emerged onto the agenda this week. But how would they work and how could they help to solve the crisis?

British insurer Aviva is putting its South Korean and Sri Lankan businesses on the auction block, sources with knowledge of the matter said on Thursday, as part of a wider retreat from sub-scale Asian markets in a deal that could fetch around $150 million.

"He is not in a confrontational mindset. He didn't arrive brandishing a
Kalashnikov and saying 'you must accept euro bonds'," one aide said. "It's a
different approach."

European shares are called to open the trading day higher despite a lackluster European Union summit that found Greece being urged to stay in the euro zone but to honor commitments to its bailout agreement.

CNN celebrity interviewer Piers Morgan explained at a lunch party years ago how mobile phones can be hacked, UK newsreader Jeremy Paxman told the Leveson Inquiry on Wednesday.

Events of the past week suggest “the street” is beginning to take control of the financial system. People are expressing fears about the future of the euro and Europe by taking their money out of banks.

Greeks are notoriously reluctant to pay taxes, but even those that do are holding off at the moment until they are sure their country stays in the euro zone.

At a time where the debate over whether Greece should or shouldn't  leave the euro zone reaches boiling point, shipping could prove critical for Greece's drive for sustainable growth.

The Bank of England may need to resume asset buying if economic conditions deteriorate sharply, while the euro zone debt crisis has pushed back the date for reversing the quantitative easing program, BoE Deputy Governor Charlie Bean said on Wednesday.

British retail sales fell at their fastest monthly pace in more than two years in April, after a record drop in fuel sales and a weather-related drop in clothing sales, official data showed on Wednesday.

European shares were called to open lower sharply lower on Wednesday as investor caution replaced hope ahead of an unofficial European Union summit in Brussels to discuss policy responses to the euro zone crisis.

Former Greek Prime Minister Lucas Papademos told CNBC  there are no preparations underway in Greece for possibly exiting the euro, but can't "exclude the possibility" that other countries are making arrangements.