Bank of England opts against another stimulus
LONDON -- The Bank of England has opted against injecting more money into the ailing British economy, which has one foot in recession....
Why Can’t This Economy Really Get Going?
It’s no secret that the U.S. economy isn’t doing especially well. But there’s a cliché – one that I’ve repeated myself – that conditions are improving, even if progress is disappointingly slow. That notion was exploded two weeks ago when the Department of Commerce estimated that GDP actually declined in the fourth quarter of 2012. It’s true that the drop wasn’t very big and was offset to some extent by better-than-expected results earlier in the year. But when you average results for the past four quarters, overall growth last year amounted to only half the normal rate, and there’s not really any upward trend. Those results are even worse than they sound. After a recession ends, the economy typically enjoys a bit of a boom. And the deeper the slump, the more powerful the rebound usually is. For brief periods, GDP growth can get up as high as 9% (at an annual rate). And over several years, the economy can expand considerably faster than the historical average rate of 3.25%. ...
Britain risks new recession
The British economy slipped back into reverse in the final quarter of 2012, raising the prospect of a third recession since the financial crisis and increasing pressure on the government to ease up on its austerity drive.
Found more than 1 month ago on channel CNN Money
UK's Cameron plays down status of top credit rating
LONDON - British Prime Minister David Cameron said the credibility of his deficit-cutting policy was more important than the judgment of credit rating agencies, as the threat of third recession since the financial crisis looms.
Found more than 1 month ago on channel Reuters
Too Many Transport Schemes 'Stuck In Slow Lane'
Bold action is needed from the Government to improve transport infrastructure, according to the British Chambers of Commerce.
Found more than 1 month ago on channel Sky News