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Europe News London


  • Bank of England to Unveil Plan to Unblock Home Loans Sunday, 20 Apr 2008 | 8:28 AM ET

    The Bank of England will unveil on Monday a plan to swap government bonds for commercial banks' mortgage debt in an effort to unblock the home loan market and ease the effects of the credit crunch on consumers.

  • RBS Planning Rights Issue Next Week Friday, 18 Apr 2008 | 12:38 PM ET
    A Royal Bank of Scotland logo is seen outside the company's offices in central London, Tuesday May 29, 2007. A consortium led by Royal Bank of Scotland PLC said Tuesday it will launch a hostile bid of euro71.1 billion (US$95.5 billion) for ABN Amro, topping a friendly offer from Barclays PLC and pressing Bank of America Corp. for control of the Dutch bank's U.S. arm. (AP Photo/Matt Dunham)

    Royal Bank of Scotland is set to announce a rights issue next week, an industry source said on Friday, in a move which analysts believe could raise over $20 billion and lead to similar action by other UK banks.

  • AstraZeneca Shares Leap on Nexium Settlement Deal Tuesday, 15 Apr 2008 | 5:50 AM ET

    AstraZeneca has settled U.S. patent litigation against India's Ranbaxy Laboratories over its top-selling drug, ulcer pill Nexium, securing future sales and sending its shares soaring.

  • UK RICS House Price Balance Falls to Lowest Since 1978 Tuesday, 15 Apr 2008 | 5:14 AM ET

    British surveyors reported the most widespread fall in house prices last month in the 30-year history of their RICS market survey, suggesting the property downturn is gathering pace.

  • London Marathon: Pain, Joy, Fundraising Friday, 11 Apr 2008 | 9:05 AM ET

    Question: what is harder? Training for four months in the coldest, wettest and most downright most miserable part of the British winter and then turning up in mid-April to run over 26 miles OR raising money for your chosen charity and actually collecting the booty at the end of it all?

  • BoE Likely to Cut, Brown Dismisses Price Fears Wednesday, 9 Apr 2008 | 8:05 AM ET

    The Bank of England will probably cut interest rates to 5 percent Thursday, in the hope of alleviating the impact of the credit crunch, but inflation expectations are on the rise, adding to the central bank's dilemma, analysts told CNBC.com. 

  • Web Ads Will Top TV Ads in UK in '09 Tuesday, 8 Apr 2008 | 9:00 AM ET

    Online advertising spending looks set to overtake spending on television in the UK by the end of 2009, according to a recent report.

  • UK Housing Market Repeating US Tumble? Tuesday, 8 Apr 2008 | 7:50 AM ET

    There is a real danger that the housing market crisis in the US could be repeated in Britain, analysts said on Tuesday.

  • The credit squeeze for households and businesses looks set to intensify over the coming months as lenders grow increasingly nervous over the economic outlook, a survey by the Bank of England showed on Thursday.

  • Friends Rejects $7 Billion JC Flowers Takeover Offer Monday, 31 Mar 2008 | 1:18 PM ET

    British insurer Friends Provident rejected a 3.5 billion pound ($7 billion) cash takeover proposal from U.S. private equity firm JC Flowers because it "significantly undervalues" the firm, Friends said.

  • BA Warns Travelers Face Further Heathrow Delays Monday, 31 Mar 2008 | 1:16 PM ET
    British Airways planes are parked on the apron of terminal 4 at London's Heathrow airport

    Travelers hoping to fly from the new Terminal 5 at London's Heathrow airport on Monday face more delays from teething troubles with the computerised baggage handling system, British Airways said.

  • British Airways planes are parked on the apron of terminal 4 at London's Heathrow airport

    British Airways cancelled three dozen flights out of its new $8.6 billion terminal at Heathrow on Friday -- a fifth of scheduled departures -- as the chaos from its shambolic opening spilled into a second day.

  • UK House Prices Fall for Fifth Straight Month Friday, 28 Mar 2008 | 5:22 AM ET

    British house prices fell for a fifth straight month in March, bringing the annual rate of increase to its lowest in 12 years, in a clear sign the once red-hot property market is weakening fast.

  • Kingfisher Slices Dividend, Restructures China Arm Thursday, 27 Mar 2008 | 3:28 PM ET

    Kingfisher, Europe's biggest home-improvements retailer, reported lower annual profit as expected on Thursday and said it was slashing its full-year dividend by nearly a third.

  • Sainsbury's Unveils Property Deal, Sales Rise Wednesday, 26 Mar 2008 | 1:33 PM ET

    British supermarket retailer J. Sainsbury reported a 4.1 percent rise in like-for-like sales excluding fuel in the fourth quarter, above expectations, and said it saw "strong growth" in sales of non-food items.

  • FSA to Get Tougher after Northern Rock Wednesday, 26 Mar 2008 | 5:01 AM ET

    Britain's financial watchdog will boost its supervision of top banks after admitting on Wednesday that its supervision of Northern Rock was unacceptable and failed to highlight the mortgage lender's vulnerability.

  • UK Banks Meet BoE as Industry Jitters Persist Thursday, 20 Mar 2008 | 7:16 AM ET

    Liquidity, rumour-mongering and housing market troubles top the list of subjects for discussion when Britain's top bankers meet senior officials from the Bank of England on Thursday.

  • BoE Voted 7-2 for Steady Rates in March Wednesday, 19 Mar 2008 | 5:42 AM ET

    Two of the nine Bank of England policymakers opposed this month's decision to keep interest  rates at 5.25 percent, preferring an immediate quarter-point cut to shore up the economy in the face of a global downturn.

  • EasyJet Shares Slump on Profit Warning Wednesday, 19 Mar 2008 | 5:36 AM ET

    Shares in low-cost European airline easyJet plummeted Tuesday after it said that earnings for the second half of the year will be below its previous guidance if fuel prices continue at current levels.

  • Banks Vie for BoE Funds; Crisis Deepens Monday, 17 Mar 2008 | 8:24 AM ET

    The Bank of England's emergency offer of 5 billion pounds of 3-day loans was nearly five times oversubscribed on Monday as financial institutions scrambled for cash in the face of a global credit crunch.