Testifying in front of the treasury select committee, Bank of England Governor Mervyn King detailed the central bank's rational for introducing a second bout of money easing. "The volatility did not dampen down, we did not see a reversal of the asset price movements, so we followed through and took the decision in October, which was unanimous, to resume the asset purchasing program," he said.
The aggregate shortfall of UK corporate pension schemes soared in September and is now at its second-highest level, new industry data show, as falling markets and bond yields sharply reduced returns.
The world's second-wealthiest man explains to CNBC why workers in Europe and other parts of the developed world are at the "best" part of their career after they reach their 60s.
Tuesday, 18 Jun 2013 | 10:00 AM ETViolent protests broke out in eight Brazilian cities last night, with the worst violence occurring in Rio de Janeiro. Thousands of protesters threw Molotov cocktails and anything else they could find. The protests began over a 10-cent increase in bus and subway fares.
Tuesday, 18 Jun 2013 | 11:05 AM ETFBI Deputy Director Sean Joyce describes how NSA surveillance helped to detect and thwart a plot to bomb the NYSE.