The Federal Reserve said it will end, as planned, one of its main supports for the U.S. economy—purchases of $1.25 trillion of mortgage-backed securities—allowing a nascent economic recovery to stand with less government support. Fed’s Balance Sheet View Interactive Journal Community Fed officials ended a [...]
Alistair Darling has defended his budget deficit plan The government’s plans for reducing the budget deficit are not ambitious enough - according to a European Commission report to be published on Wednesday.The report warns that the UK is not on course to cut [...]
AP - Shoppers shrugged off the snow and worries about the economy to buy full-price spring clothing and other items at the nation’s malls, resulting in the strongest retail sales gain since November 2007, a month before the recession started.[Read more...]
The U.K. made a slight upward revision in its fourth-quarter economic figures, but the modest acceleration in the country’s recovery from recession was in part owing to government spending that will have to be cut to rein in a record budget deficit. News that fourth-quarter gross domestic product grew 0.3% from the previous quarter—rather [...]
Previous of Companies Next FTSE 100 FTSE 250 A government report released on Thursday indicated that business investment – such as corporate spending on buildings and vehicles – fell unexpectedly during the last three months of 2009, reigniting concerns about the pace of the UK’s exit [...]
MADRID—Greece set off the crisis rattling the euro zone. Spain could determine whether the 16-nation currency stands or falls. The euro zone’s No. 4 economy, Spain has an unemployment rate of 19%, a deflating housing bubble, big debts and a gaping budget deficit. Its gross domestic product contracted 3.6% in 2009 and is expected [...]
The government has pledged to halve the deficit by 2011 More than 60 senior economists have signed two open letters that back the chancellor’s decision to delay government spending cuts until 2011.The letters say that any measures to trim the budget deficit this [...]
Ken Clarke said the downturn was far worse than in the 1990s A Conservative government would have to be much tougher on public spending than "Margaret Thatcher ever was", Shadow Business Secretary Ken Clarke has said.In an interview with the Times, he said [...]
LONDON — British Prime Minister Gordon Brown said Tuesday that it was right for the U.K. to run a large deficit to get through the recession, but an opposition Treasury spokesman was critical, saying spending cuts should have started this year. The U.K. Treasury expects the public sector to run a deficit of some [...]
LONDON—The U.K. still faces “tough” economic times, even after moving out of recession, Prime Minister Gordon Brown said Saturday. In his weekly podcast, released as polls showed his Labour Party closing the gap on the Conservatives, the prime minister celebrated the news that the U.K. economy had returned to growth at the end of last [...]
Army, drug gangs battle in Mexico amid blockades
(AP)
Cartel Wars Gut Onetime Boom Town
Obama hails ‘historic’ health bid
End in sight, health care battle tilts Obama’s way
(AP)
Quartet urges settlement freeze
Democrats push toward Sunday vote on health care
(AP)
Birmingham social workers sacked
US, Russia clash over startup of Iran nuke plant
(AP)
Haiti Looks Past Foreign Health AidDems sweeten health bill, set showdown Sunday vote
(AP)
Clinton urges Russia to delay Iran’s nuclear plant
(AP)
Top Al Qaeda Operative Is Killed
New US-Russia nuclear deal ’soon’
Lawmakers struggle to finish health overhaul bill
(AP)
Clinton in Moscow for talks on arms pact, Mideast
(AP)
Killings Cast Pall on Mexico Drug Plan
Obama denies crisis with Israel