Peter Phillips, the son of Princess Anne, steps down as a trustee of the Patron's Fund to avoid a conflict of interest.» Read More
The UK's Chancellor of the Exchequer, George Osborne, must wait to see what the economy does over the next few months before taking any more major steps, Vicky Pryce, senior managing director at FTI Consulting, told CNBC, prior to the minister's speech at the Conservative's annual conference in Manchester.
The UK is likely to see more quantitative easing next week or at the latest by November, according to one economic advisor.
Like Americans trying to raise quick cash by unloading their unwanted goods, the federal government is considering a novel way to reduce the deficit: holding the equivalent of a garage sale, reports the NY Times.
It is the policy that dare not speak its name: the printing press. The time has come to employ this nuclear option on a grand scale. The alternative is likely to be a lost decade, Martin Wolf writes in the FT.
LONDON—Greece may never be able to pay off its huge debts, but its bonds, long scorned by investors, are suddenly being gobbled up by hedge funds. After a number of investors struck gold by betting against French banks, many have turned their attention to the hot yet risky euro zone trade of the moment: buying Greek government bonds that traders say are changing hands for as little as 36 cents for each euro of face value.
London Metal Exchange Chief Executive Martin Abbott confirmed to CNBC on Thursday that the exchange is being at least tentatively pursued by other, unnamed firms, but said that there was "no pressing need" for a sale.
Germany's parliament has approved reforms to the European Financial Stability Facility (EFSF) that would allow the fund to participate in the primary market and to recapitalize European banks in a much-anticipated vote in the Bundestag.
Greece may never be able to pay off its huge debts, but its bonds, long scorned by investors, are suddenly being gobbled up by hedge funds, the New York Times reports.
Stocks have rallied in recent days on hopes that European Union leaders and policy-makers are close to an agreement that would significantly increase the firepower of the European Financial Stability Fund (EFSF)-- essentially the euro zone's rescue fund for troubled member states -- so that it can help deal with the zone's long-simmering debt crisis.
The UK needs a new economic plan for the 21st century that rewards the real wealth creators and not just "predators who are just interested in the fast buck", the Labour party leader - the UK’s main opposition party - Ed Miliband said on Tuesday.
The London Stock Exchange has triumphed in its attempt to take over LCH.Clearnet, the London-based clearing house, after the clearer’s board favoured the UK bourse over Markit, the rival bidder and another person familiar with the matter said on Tuesday.
As Shadow Chancellor Ed Balls wrapped up his speech to the Labour party conference on Monday, one thing became abundantly clear: Labour still have a trust issue when it comes to the economy.
The wreck of a British merchant vessel, sunk during the second world war, looks set to yield the largest haul of precious metal at sea, the FT reports.
European leaders headed home from a weekend of meetings in Washington vowing bolder steps to address widening anxiety about the Continent’s debt burden. But it will most likely be weeks or even months before any new action comes to pass. The NYT reports.
The UK’s opposition finance spokesman Ed Balls called on the government to provide a credible policy to encourage economic growth telling delegates at the Labour party’s annual conference the coalition government’s austerity plan “just wasn’t working”.
British lawyers acting for victims of phone hacking by The News of the World are planning to launch legal action in the U.S. against directors of the newspaper's parent company News Corp, according to a report on British satellite news channel Sky News.
The UK is committed to its austerity plans and is not lining up an alternative, the country's Business Secretary told CNBC Thursday.
More monetary stimulus by the UK could lead to more inflation and not much economic growth, a former member of the Bank of England's Monetary Policy Committee told CNBC Thursday.
Britain’s deputy prime minister, Liberal Democrat leader Nick Clegg told delegates at his annual party conference in Birmingham on Wednesday there was no turning back from the coalition government’s fiscal austerity program despite figures showing government borrowing in August reached a record high for the month.
The Bank of England (BoE) considered a further round of quantitative easing to help boost the flagging UK economy, the latest minutes of its interest rate setting committee, the Monetary Policy Committee (MPC) showed on Wednesday.