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....
U.K. ratings downgrade to weigh on pound
British currency falls following U.K.’s loss of coveted triple-A rating from Moody’s and country’s determination to stand by current economic recovery measures.
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
Iconic London taxi faces uncertain future
Wednesday, October 24, 2012 - 14:39 Dan Kitwood/Getty Images The maker of London’s famed black cabs has filed for bankruptcy protection. Recession, quality issues and competition have hit profits. A British icon is in jeopardy. The company that makes the traditional London black taxi cab has filed for the British equivalent of Chapter 11 bankruptcy protection. The firm -- Manganese Bronze, also known as The London Taxi Co. -- hasn't made a profit in four years and was unable to reschedule its debts. If it can't find a buyer, the company could go bust, and its world-famous product could -- over time -- disappear from the streets of London. Manganese Bronze is the ultimate, niche company and it is getting more marginal by the day. Five years ago, it was making around 3,000 cabs for the British market. Last year, that had fallen to 1,500 and it is falling again this year. The company has been hit by the U.K. recession and by increased competition from much more powerful rivals. Mercedes and ...