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.
Outgoing Bank of England policy maker Adam Posen said on Tuesday that he could have done better with his economic forecasting during the financial and euro zone debt crises, and welcomes three reviews of the central bank’s performance that period.
London prices have risen 45 per cent over the past three years, compared to only 15 per cent in Geneva, 17 per cent in Paris and 10 per cent in New York, making London ever more expensive (and desirable) than its western peers.
The euro zone is facing its darkest hour but will emerge more competitive than in the past, the chief executive of the London Stock Exchange told CNBC on Friday, though he noted that smaller businesses are very important to Europe’s recovery.
For those who love to shop, the search for that must-have item can be as fun as owning the actual product. Here are the top 10 international shopping destinations.
The governor of the Bank of England said on Wednesday that the euro zone is “tearing itself apart without any obvious solution" as he admitted that the UK central bank, the Financial Services Authority (FSA) and the government have been discussing contingency plans to deal with the prospect of a Greek exit from the euro or a collapse in the euro zone “for some time.”
United States and British regulators have been in discussions with the bank for almost a month about the trading group that disclosed more than $2 billion in losses, The New York Times reports.
A report that white airline passengers are being discriminated against by British border officials is the latest bit of bad press for UK airports as the Olympics loom, USA Today says.
UK food retailer Sainsbury said on Wednesday that it managed to deliver solid quarterly sales growth despite the “wider economic situation remaining uncertain.”
Plans to give shareholders more power over boardroom pay will be given centre stage in the Queen’s Speech, as highly paid executives face another week of lambasting from shareholders, the Financial Times reports.
Voters in the United Kingdom punished the coalition government’s two political parties at local elections across the country on Thursday in what will be seen by many as a rejection of the government’s austerity.
NYSE Euronext and CME Group, the two US exchange groups, have submitted bids for the London Metal Exchange, valuing it at up to £1 billion and kicking off a contest for the commodities business, according to people familiar with the matter. The FT reports.
McDonald's is a sponsor for the London Olympics—and a British doctors' group says that's sending the wrong message in a country with ballooning obesity.
The UK had its latest testy exchange with the rest of the European Union Wednesday night, as Finance Minister George Osborne had an angry outburst at the negotiating table during talks about bank rules.
The British pound is likely to rise further against the euro in the near term despite its fall on Tuesday as it is still seen as a safe play, but in the long term it will weaken, according to currency analysts.
The invasion of the super-rich has a social impact, diluting what is referred to as the “civic” quality of the cities they have adopted as their playgrounds.
CNBC's Kayla Tausche reports on opinions of the UK Parliament Committee regarding Rupert Murdoch exhibiting a "blind eye" to the phone-hacking scandal.
While the French presidential elections are drawing the attention of most in Europe, local elections in the UK, though unlikely to change the shape of Britain’s coalition government, could put pressure on its economic policy.
A committee of UK members of parliament is preparing a “damning” report on phone-hacking that will add to the pressure piled on News Corp’s Rupert and James Murdoch.
Chairman of Goldman Sachs Asset Management Jim O’Neill is among candidates in the running to replace Bank of England governor Mervyn King who leaves in June 2013, the Sunday Times reported, without citing where it got the information.