The banking watchdog said the aggregate capital shortfall at five major U.K. banks at the end of 2012 was 27.1 billion pounds, slightly higher than its 25 billion initial estimate in March this year.» Read More
British electricity prices may be almost double those in Germany within three years due largely to the impact of a new tax aimed at supporting renewable power generation.
Once-commanding giant of the technology world Alcatel Lucent announced a fresh cost cutting program on Wednesday as new CEO Michel Combes plans to turn around the company's fortunes.
George Osborne renewed his commitment to promote competition in retail banking on Wednesday, and inquired into the effects of mandatory branch sales by Lloyds and RBS.
Lower-ranked tennis players will be able to collect more in prize money than ever before at this year's Wimbledon tournament.
The IKEA Foundation, the philanthropic arm of the iconic Swedish furniture maker, has helped come up with a more comfortable refugee shelter.
An Italian court on Wednesday sentenced fashion design duo Dolce and Gabbana to one year and eight months in prison for hiding hundreds of millions of euros from the tax authorities.
Economist and former member of the Bank of England's Monetary Policy Committee, Adam Posen said while outgoing governor Mervyn King will be remembered as being a great public servant, he made a series of misjudgements.
Ryanair CEO Michael O'Leary finalized an order for 175 Boeing 737-800 aircraft at the Paris Air Show but he said he was disappointed that neither Boeing nor Airbus could offer him a few more seats on their single-aisle planes to allow for cheaper fares.
"Proactive vigilance" is needed to safeguard the "hard won" solvency of Spain's banking system, and Europe needs to do more to ease Spain's financial woes, the IMF has warned.
In a week that has seen Boeing's Dreamliner meet its new challenger in the form of the Airbus A350, the U.S. firm maintains that the new European aircraft will not affect its share of the wide body market.
Cyprus' president has asked euro zone leaders for a complete revamp of his country's 10 billion euro ($13.4 billion) bailout, the Financial Times reports.
Britain's Vodafone Group has raised its preliminary offer to buy Kabel Deutschland, Germany's largest cable operator, a source close to the situation has told CNBC.
At a time when Europe needs solidarity and a unified sense of purpose to grapple with its seemingly endless economic crisis, religion has become yet another a source of discord. The New York Times reports.
Bankers who are reckless with customers' or taxpayers' money could face criminal charges and have bonuses and pensions clawed back.
H&M, the world's second-largest fashion retailer, posted a bigger than expected drop in second-quarter earnings.
He was the favorite to win at Tuesday's Royal Ascot race in Britain, but even though Animal Kingdom suffered a terrible disappointment, there could still be hope for him.
Britain's fraud prosecutor charged former UBS trader Tom Hayes with eight counts of conspiracy to defraud.
British consumer price inflation rebounded by more than expected in May due to a record rise in air fares and higher fuel prices.
High youth unemployment in parts of Europe and disappointing growth expectations in the emerging world could mean mass protests this summer, Niall Ferguson told CNBC Tuesday.
The European Central Bank is "ready to act" if need be to aid the euro zone economy and its interest rates are becoming a more effective tool again.