Stimulus alone is not enough; government action is also needed
The price of oil is continuing to fall around the world and the benchmark Brent Crude has fallen to its lowest level for five-and-a-half years.
The popular pledge to get fit in the new year is helping fuel a growing fitness industry – including in Asia.
A “deeply personal” picture of every consumer could be grabbed by futuristic smart gadgets, warned the chair of the US Federal Trade Commission.
Oil giant Royal Dutch Shell agrees to a $84m (£55m) settlement with residents of the Bodo community in the Niger Delta for two major oil spills.
Tax receipts did not rise rapidly enough to meet the £126bn savings promised by the government, committee finds
George Osborne’s plans for deficit reduction have been questioned after parliament’s all-party spending watchdog found that tax receipts did not rise rapidly enough to meet the
Minutes show that Bank’s court failed to challenge officials’ thinking over how to handle system during crisis
Lord King called it “fun” being governor of the Bank of England during the financial crisis. There’s no such sense of enjoyment, or even job satisfaction, in the minutes of the time. As Badger (Bradford & Bingley), Fox (HBOS) and Phoenix (Royal Bank of Scotland) crashed through the undergrowth, officials struggled to keep up.
Feel the stunned realisation of what is happening in passages such as this, from 1 October 2008: “It was noted that the Bank’s exposure to Fox and Lark [Lloyds TSB] was likely to be around
Documents released following Treasury request shed light on £65bn bank bailouts for HBOS, Lloyds TSB and RBS
It was 1 October 2008. Three people had assembled inside the Bank of England. They were the then governor of the Bank, Mervyn King, and two senior members of the Bank’s governing court, Sir John Parker and Amelia Fawcett. Their task was simple: to find a way of providing financial support to Fox, the code name for HBOS. Britain’s biggest mortgage lender was in so much trouble that without help from Threadneedle Street it would default that night.
The meetings of these three, and others who sat on a specially created transactions committee (Transco), took place during the financial crisis that culminated in the taxpayer bailouts of not just HBOS but also Lloyds TSB and Royal Bank of Scotland.
Tumbling oil prices will continue affecting shops for some time, says British Retail Consortium
Prices in UK shops fell in every month of 2014, according to an industry group that predicts tumbling oil prices will continue the deflationary pattern this year.
The British Retail Consortium’s latest figures show shop prices fell again in December on a year earlier, the 20th consecutive month of deflation.