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 [...]
LONDON (Reuters) - The Labour Party closed the gap on the Conservative Party in two opinion polls at the end of a week in which the country crawled out of recession.[Read more...]
Ben Bernanke, chairman of the US Federal Reserve. Mr Bernanke was re-nominated as Fed chairman by President Barack Obama in August, subject to confirmation by the US Senate. Senators voted 70-30 in favour of his nomination - the closest vote in the 97-year history [...]
Early Iraq results: PM battling secular challenger
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More quakes hit Chile as new president takes over
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Strong Aftershocks Rattle Chile
Pinera sworn in as new quake hits
Pelosi says Dems near deal on health care bill
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Law bars Myanmar’s Aung San Suu Kyi from elections
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Contractors ‘divert Somalia aid’
Apology for women raped by father
Gates: Some troops could leave Afghanistan early
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Iran attacks US over AfghanistanObama pushing on health care end game
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Inmate reoffending ‘costs £10bn’
Biden condemns new Israeli settlement plan
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US attacks East Jerusalem plans
Feds to probe cause of runaway Prius in California
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Troop bomb training ‘inadequate’
Massacres Shake Uneasy Nigeria
Biden urges Israel to take risks for peace
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US eyes chance for Mid-East peace