Bank of England on verge of new money boost
LONDON - The Bank of England is close to launching a new round of monetary stimulus because of the worsening euro zone crisis, according to minutes of its last policy meeting, which showed officials split 5-4 on the move, with Governor Mervyn King in favour.
Jobless claimant count posts shock rise
LONDON - The number of Britons claiming unemployment benefit rose unexpectedly in May, official data showed on Wednesday, in the latest sign of the economy's ill health.
Homeowners face more property price falls - Reuters poll
LONDON - Britain's beleaguered homeowners will have to wait until 2014 at least before they see a rise in the value of their properties, as weak demand and tight lending conditions keep the market in check, a Reuters poll found on Tuesday.
History points to Olympic boost for UK stocks
LONDON - Equity investors wishing to cash in on the London Olympics can take their pick from UK hotels, advertisers or retailers - history suggests that despite little macroeconomic benefit from the games, the FTSE 100 could shine in the following 12 months.
Surprise inflation fall lifts chance of BoE stimulus
LONDON - Inflation eased unexpectedly in May to its lowest in two and a half years due to slower price rises for food and fuel, strengthening the chance of more Bank of England stimulus as the economy increasingly feels the heat of the euro debt crisis.
Wary London businesses freeze recruitment
LONDON - London businesses are less gloomy about the economy than six months ago but are cutting back on hiring staff because of the crisis in the euro zone, a survey showed on Tuesday.
Government plots homebuilding boom to spur recovery
LONDON - The government is hoping to spark a 1930s-style house building boom, business minister Vince Cable said on Monday, as policymakers try to drag the economy out of a second recession in four years without abandoning their austerity plan.
New buyers may lift London art sales to $1 billion
LONDON - London's art market is attracting the lion's share of business from an emerging class of super-wealthy collectors from Russia, the Middle East and China, and they are likely to be a big factor in a summer season of sales valued at up to $1 billion (638 million pounds).
Banks told to reform at cost of 7 billion pounds a year
LONDON - The government told banks to separate their domestic retail operations and gave savers a higher priority in the event lenders hit trouble under reforms aimed at safeguarding taxpayers, at a potential cost of 7 billion pounds each year.
International super-rich target California property
LONDON - The super-rich investors responsible for London's prime property bubble are adding California to their wish lists, lured by bargains offering crisis-defying returns as an overdue churn in the United States property market finally gets under way.
Fall in house prices slows but outlook darkens
LONDON - British house prices fell at a slower pace in May, although the outlook worsened as the euro zone crisis intensified and sales took a temporary hit from the expiry of a tax holiday, a survey showed on Tuesday.
UK pension deficits soar to record highs
LONDON - The deficits of final salary pension schemes in the UK surged dramatically in May to new record highs as weak economic growth and central bank monetary easing measures leave companies struggling to plug the shortfall, data on Tuesday showed.
Government must lead to ease credit flow - MP
LONDON - The government must urge the Bank of England to unlock the flow of credit into the economy, a leading MP said on Thursday.
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