Economy, United Kingdom | featured news

Britain avoids recession with faster than expected growth

Britain skirted a "triple dip" recession by growing faster than expected in the first three months of the year, providing some cover for a government under fire over its austerity drive.

 

Britain heads for new recession as factories slump and mortgage lending slides

British Economy

The risk that Britain is entering its third recession in four years grew on Friday with figures showing that manufacturing shrank unexpectedly last month and mortgage approvals for home buyers dropped in January.

 

Canada's Carney named as Bank of England chief

Britain named Canadian central bank chief Mark Carney on Monday as the next governor of the Bank of England, springing the surprise choice of a foreigner to help steer the world's sixth-largest economy out of stagnation.

 

Cameron warns Britons to expect more budget cuts

Britain will have to keep cutting public spending to reduce the budget deficit, Prime Minister David Cameron said on Sunday, underlining the government's tough task of pulling the country out of recession while winning back waning public support.

 

U.K. GDP Less Gloomy

The U.K. economy isn't as deeply in recession as thought, revised official figures showed, though analysts cautioned its economy in still in dire straits.

 

Trade body says UK tourism slumped during Olympics

UK Tourism

The Olympics brought less tourist money to recession-hit Britain than officials expected, a trade group said Monday, with a majority of tourist businesses reporting losses from last year.

Senh: That's surprising. You'd think with all those people there, everyone would be making more, if not record, sales.

 

BoE leaves policy on hold as British economy worsens

Bank of England

The Bank of England left its monetary policy unchanged on Thursday, judging that its July decision to expand purchases of government bonds is enough stimulus for now despite the danger of a prolonged slump.

 

Political Tensions Surface Over Euro Crisis

The president of the European Commission sharply criticized Britain for blaming its economic problems on the euro zone, and warned against efforts to divide European nations.

 

UK treasurer: Euro crisis is killing our recovery

Britain's Treasury chief says that uncertainty over the future of Europe's single currency is threatening to keep Britain from returning to economic growth.

 

U.K. Slips Into Double-Dip Recession

UK Double-Dip Recession

Figures released Wednesday provoked an outcry on the day that Mario Draghi, the president of the European Central Bank, shifted his rhetoric on the debt crisis.

 

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