Bank may echo US warnings over future rise in rates
The Bank of England is poised to follow the US by warning high street banks of the new risks they face from future rises in interest rates and the current upheaval in the bond markets.
Deputy Bank of England governor Paul Tucker has admitted that UK authorities [...]
Leaders at Davos economic summit appeared to be deserting the idea of a Tobin tax on banking industry
The prospects of a global tax on financial transactions were receding fast this weekend amid signs that countries were swinging behind an alternative plan to impose an insurance levy on banks.
Both David Cameron and Alistair Darling expressed support [...]
• IMF’s new $102m loan is criticised by charities• UN trade and development body calls for debt write-off
Haiti is sleepwalking towards a debt crisis because international help for the earthquake-hit country is being given in the form of new loans, anti-poverty campaigners are warning.
Unctad, the United Nations’ trade and development body, which is leading international [...]
A combination of bad harvests and speculation has sent the price of cane soaring – and provoked protests and violence in Asia
Will that be one lump or two? Or, perhaps, none. A sugar rush is gripping the global commodities market. The price of the world’s favourite sweetener shot to its highest level for 29 years [...]
Squeezed by falling demand and rising fuel prices, the UK carrier has turned to radical plans to cut the cost of cabin crew staff. Can it succeed?
A conference room in TUC headquarters is an underwhelming place to relaunch a blue-chip airline. But British Airways is steeped in aviation tradition and so are its staff, led [...]
• Conservative leader: action swift but not extensive• Sources deny Cameron rowing back on pledge to tackle deficit
David Cameron gave a clear sign today that Conservative spending cuts designed to prevent Britain facing a Greek-style debt crisis would begin with only modest savings in public spending this summer.
Speaking in Davos, the Conservative leader said [...]
Chancellor holds clear-the-air talks with eight UK and foreign-owned banks at World Economic Forum in Davos
Alistair Darling told the City’s top bankers today to stop feeling sorry for themselves and instead work with the government to create a stronger financial system.
The chancellor held clear-the-air talks with eight UK and foreign-owned banks at the meeting of [...]
Financial markets reacted swiftly to the stronger-than-expected growth, with the dollar gaining ground and bond yields rising amid fears of rising inflation in the US economy
The US economy grew at a faster-than-expected 5.7% annualised rate in the fourth quarter, the strongest figure in more than six years, as businesses reduced inventories less aggressively than before.
Growth [...]
President Barack Obama vowed in his State of the Union address on Wednesday to make job creation his top priority
The US economy is forecast to have gathered steam in the final three months of last year, helped by a gradual revival of the housing market.
Wall Street analysts expect growth to have picked up to 4.6% [...]
• Papandreou: ‘The problem we have is home-made’• Warning speculators are attacking Greece as weak link in euro
Greece’s embattled prime minister, George Papandreou, has said his country must solve its deep-rooted budgetary problems itself, and warned that speculators were targeting Greece as the weak link in the eurozone.
With Greek bonds again under ferocious pressure on [...]
