Economy

Bank slashes rates to historical low

Thu, 08 Jan 2009 22:29:17 GMT

The Bank of England has slashed interest rates to 1.5 per cent, the lowest level in the Bank's 315-year history.

Dell to axe 1,900 jobs in Ireland

Thu, 08 Jan 2009 10:10:27 GMT

Computer giant Dell is to cut 1,900 jobs at its flagship manufacturing plant in western Ireland.

Bank mulls historic rate cut

Wed, 07 Jan 2009 22:38:12 GMT

The Bank of England is holding an historic meeting which is likely to see interest rates slashed to an all-time low.

Brown 'not planning 2009 election'

Wed, 07 Jan 2009 13:29:28 GMT

Gordon Brown has insisted he is not planning to hold a General Election in 2009.

Jobs threat at loans firm Cattles

Wed, 07 Jan 2009 10:12:53 GMT

Around 1,000 jobs could be cut at consumer lender Cattles which is also considering the closure of an office in Hull.

Unions call for action over M&S job losses

Tue, 06 Jan 2009 19:36:03 GMT

Union leaders are seeking urgent talks with high street giant Marks & Spencer as workers brace themselves for huge job losses.

Record annual fall in house prices

Tue, 06 Jan 2009 07:49:48 GMT

House prices suffered the biggest annual drop on record in 2008 of 15.9 per cent.

Labour's 100,000 jobs deal

Sun, 04 Jan 2009 23:03:27 GMT

Gordon Brown has pledged to create 100,000 jobs in a public spending programme.

PM warns 2009 'won't be easy'

Thu, 01 Jan 2009 14:40:12 GMT

Gordon Brown has warned the country that 2009 "won't be easy" as it faces up to the economic crisis.

Brown: 'UK can weather economic storm'

Sun, 28 Dec 2008 10:58:15 GMT

Gordon Brown will use his New Year address to say Britain has the strength of resolve to tackle the forthcoming recession.

'Economy could be set back five years'

Fri, 26 Dec 2008 12:51:52 GMT

Britain's economy could be set back by five years as the current downturn deepens, a leading think-tank has forecast.

Zavvi calls in administrators

Wed, 24 Dec 2008 23:06:37 GMT

More than 3,000 jobs are at risk at music, games and film retailer Zavvi, which has gone into administration.

Queen expresses credit crunch fears

Wed, 24 Dec 2008 19:24:05 GMT

The Queen's Christmas speech will address the effect of both global terrorism and the credit crunch.

'Allied Carpets for sale'

Wed, 24 Dec 2008 09:28:57 GMT

Allied Carpets is reportedly to be sold by its French owner as it seeks to exit the UK high street.

FTSE closes at 4249.2

Mon, 22 Dec 2008 17:55:18 GMT

The FTSE 100 Index slid 37.8 points to 4249.2 amid falling oil prices and losses on Wall Street.

'Britain must be beacon of hope'

Fri, 19 Dec 2008 23:51:22 GMT

Gordon Brown has said Britain must be a "beacon of hope" during the global economic downturn.

Retailers pray for pre-Christmas boost

Fri, 19 Dec 2008 20:41:17 GMT

Retailers are braced for what they hope will be the biggest shopping weekend for many years.

FTSE ends week in the red

Fri, 19 Dec 2008 18:26:02 GMT

The FTSE 100 has finished the week in the red amid the $17.4 billion bail-out of the US car industry.

Sterling hits record low against euro

Wed, 17 Dec 2008 09:56:18 GMT

Sterling has hit a record low against the euro as markets anticipate more UK interest rate cuts.

Inflation falls to 4.1%

Tue, 16 Dec 2008 09:46:29 GMT

The Consumer Prices Index (CPI) fell to 4.1 per cent in November from 4.5 per cent in October, official figures show.

Cameron seeks probe into financial crisis

Mon, 15 Dec 2008 14:09:53 GMT

Tory leader David Cameron has called for a thorough investigation into the causes of the financial crisis.

Brown: 'We are taking action'

Wed, 10 Dec 2008 22:16:20 GMT

Gordon Brown has promised new measures to boost the flagging economy in the coming days.

'Service sector job losses to rise'

Mon, 08 Dec 2008 07:04:43 GMT

The number of job losses in the service sector is set to rise as the economic downturn deepens, a report has predicted.

World News (Evening)

Sat, 06 Dec 2008 16:29:28 GMT

Brown warns Mugabe - Congress auto bailout talks - Indian police hold two over terror attacks

Rice: 'Do more to remove Mugabe'

Fri, 05 Dec 2008 10:21:11 GMT

Dictator Robert Mugabe should not be in power and his African neighbours should be doing more to make him quit, Condoleezza Rice has said.

New car sales plummet 36.8%

Thu, 04 Dec 2008 10:49:56 GMT

New car sales in November were down 36.8 per cent on a year earlier, as the economic downturn continues to hit.

Swap to euro claims denied

Wed, 03 Dec 2008 10:20:32 GMT

Business Secretary Peter Mandelson has denied he was responsible for suggesting the Government should consider adopting the euro.

Mexicans get their skates on

Tue, 02 Dec 2008 23:30:00 GMT

Latin America has largely missed out on winter sports but people in Mexico City are making up for lost time.

Downturn claims 2,000 more jobs

Mon, 01 Dec 2008 23:16:26 GMT

Four high-profile firms have announced up to 2,000 redundancies just weeks before Christmas.

World News (Evening) for November 26th, 2008

Wed, 26 Nov 2008 17:12:04 GMT

Thai president defiant amid protests - Iraqi security vote delayed - Chinese workers protest against factory closures

Experts question Darling's big gamble

Tue, 25 Nov 2008 22:50:51 GMT

Some economists are questioning whether Chancellor Alistair Darling has done enough to stop a long and painful recession.

US Fed pumps $800bn into economy

Tue, 25 Nov 2008 18:31:59 GMT

The US government has pumped $800 billion into the economy to help overcome the country's credit crisis.

FTSE closes at 4171.3

Tue, 25 Nov 2008 17:16:22 GMT

The FTSE 100 failed to extend Monday's record rise, closing 18.3 points down at 4171.3.

Mortgage approvals more than halve

Tue, 25 Nov 2008 14:35:29 GMT

Mortgage approvals more than halved in October compared to a year earlier, the British Bankers' Association has said.

King backs Government's economic plan

Tue, 25 Nov 2008 11:59:56 GMT

The Governor of the Bank of England has backed the Government's £20 billion gamble to drag the UK out of recession.

FTSE surges 9.8% on Darling report

Mon, 24 Nov 2008 22:38:46 GMT

The FTSE 100 posted its biggest-ever one-day percentage rise as Chancellor Alistair Darling delivered his Pre-Budget Report.

Super-rich hit as VAT slashed

Mon, 24 Nov 2008 22:36:55 GMT

Alistair Darling has said VAT will be reduced by 2.5 per cent as he warned Britain faces "economic uncertainty not seen for generations".

Tax hike set for top earners

Sun, 23 Nov 2008 22:54:37 GMT

The Chancellor is rumoured to be on the verge of announcing a new higher rate of income tax.

Obama plans create 2.5m jobs

Sat, 22 Nov 2008 17:33:10 GMT

Barack Obama has outlined plans to create 2.5 million jobs in the US by 2011.

World News (Lunchtime) for November 22nd, 2008

Sat, 22 Nov 2008 16:03:26 GMT

Obama pledges 2.5 million new U.S. jobs - British militant reported dead

FTSE ends at 3875

Thu, 20 Nov 2008 18:01:32 GMT

More than £31 billion was wiped off the UK's biggest companies after blue-chip stocks took a fresh pounding on global recession fears.

FTSE closes at 4005.7

Wed, 19 Nov 2008 17:25:05 GMT

The FTSE 100 Index has closed down 202.9 points at 4005.7 as banking and mining stocks fell.

Brown promises to cut taxes

Wed, 19 Nov 2008 13:06:10 GMT

Gordon Brown has promised to cut taxes in a bid to boost growth in the economy.

Biggest fall in inflation for 16 years

Wed, 19 Nov 2008 00:00:49 GMT

Inflation has dropped at its fastest rate for 16 years thanks to falling fuel prices, official figures have showed.

Morning World News

Sat, 15 Nov 2008 06:29:15 GMT

G20 leaders meet in Washington - Hillary Clinton to be Obama's Secretary of State? - Continued violence in DR Congo

Paulson reconsiders mortgage assets plan

Wed, 12 Nov 2008 16:52:32 GMT

The US Treasury Secretary says he is reconsidering the use of the $700 billion (£463bn) bail-out to buy troubled mortgage assets.

Brown tax cut rumours

Sun, 09 Nov 2008 22:56:43 GMT

Speculation is growing that Gordon Brown is planning a £15 billion tax cut to boost the economy.

Obama vows to tackle US economy

Sat, 08 Nov 2008 07:07:43 GMT

Barack Obama has vowed to act swiftly on the US economy when he takes office in January.

New car sales slump again

Thu, 06 Nov 2008 09:12:57 GMT

New car sales - a key indicator of consumer confidence - slumped again last month.

PM urges Gulf states to stablise oil prices

Sat, 01 Nov 2008 13:49:51 GMT

Gordon Brown will urge Gulf states to do more to stabilise oil prices as he kicks off a visit to the region on Saturday.

FTSE ends 2% higher

Fri, 31 Oct 2008 17:24:08 GMT

The FTSE 100 has ended 2 per cent higher after a burst of late trading which helped offset declines from BT and Barclays.

Osborne attacks Brown's borrowing plans

Fri, 31 Oct 2008 14:57:12 GMT

Shadow chancellor George Osborne has attacked the Government in a speech about the looming recession.

Brown calls for petrol price drop

Fri, 31 Oct 2008 12:13:24 GMT

Gordon Brown has said the price of petrol at the pumps should be coming down faster.

FTSE ends higher

Thu, 30 Oct 2008 17:23:57 GMT

The FTSE 100 has ended the day higher in relatively quiet trading after soaring 8 per cent during the previous session.

FTSE ends 8% up

Wed, 29 Oct 2008 18:29:31 GMT

The FTSE 100 finished the day more than 8 per cent higher on hopes of an interest rate cut in the US.

Another budget airline collapses

Wed, 29 Oct 2008 10:01:12 GMT

Hundreds of passengers have been left stranded after flights were cancelled following the financial collapse of a budget airline.

Battered world stocks rally

Tue, 28 Oct 2008 22:36:31 GMT

The FTSE and Dow Jones have both rallied on the back of positive gains on the Asian markets.

World News

Tue, 28 Oct 2008 06:11:24 GMT

Skinheads plot to assassinate Obama - Syrians attend civilians funeral - Palestine says peace 'can't be secured' this year.

Another rollercoaster ride for sterling

Mon, 27 Oct 2008 17:15:42 GMT

Sterling has plummeted in value as another rollercoaster week begins on the financial markets.

FTSE fights back from fresh lows

Mon, 27 Oct 2008 17:10:55 GMT

The FTSE 100 finished the day in the red but fought back from fresh five-year lows as concerns about a global recession continue.

Oil prices hit fresh low

Mon, 27 Oct 2008 11:12:30 GMT

Oil has fallen to a new 17-month low, below $62 a barrel, amid pessimism about the global economy and its possible impact on fuel demand.

Senior economists criticise Darling

Sun, 26 Oct 2008 15:22:49 GMT

A group of senior economists have criticised the Government's plan to spend its way out of the looming recession.

FTSE ends week deep in the red

Fri, 24 Oct 2008 16:27:12 GMT

The FTSE 100 has ended the week deep in the red after bleak UK economic news and a shares plummet on Wall Street.

'Banks must help small businesses'

Thu, 23 Oct 2008 22:19:28 GMT

Business Secretary Lord Mandelson has met bank bosses to discuss what help they can give to the country's struggling small businesses.

FTSE closes at 4087.83

Thu, 23 Oct 2008 16:16:17 GMT

The FTSE 100 index overcame recession fears to close up 46.94 points at 4087.83 after a late session boost from Wall Street.

JCB workers vote for pay cut

Thu, 23 Oct 2008 14:17:06 GMT

Thousands of JCB workers have voted to accept a £50-a-week pay cut to save 350 jobs.

Mortgage approvals down 57% year-on-year

Thu, 23 Oct 2008 08:35:26 GMT

The number of mortgages approved for house purchase in September is 57 per cent down on a year ago, figures have shown.

FTSE ends 4.5% lower as US tumbles

Wed, 22 Oct 2008 16:21:06 GMT

The FTSE 100 has ended the day deep in the red after Wall Street tumbled on continued global recession fears.

US to host global financial summit

Wed, 22 Oct 2008 14:43:15 GMT

The first global summit on the economic crisis and reform of the financial system will be held next month the White House has said.

Unanimous approval for rate cut

Wed, 22 Oct 2008 08:51:43 GMT

Members of the Bank of England's Monetary Policy Committee (MPC) unanimously voted in favour of the emergency 0.5 per cent rate cut.

Brown defends soaring borrowing

Mon, 20 Oct 2008 21:30:32 GMT

Borrowing soared to a record high in September as the nation's finances came under more pressure.

Late surge sends FTSE 100 higher

Mon, 20 Oct 2008 16:11:26 GMT

The FTSE 100 has finished the day almost 6 per cent higher on the back of strong gains from banks and oil companies.

Standby for green savings

Mon, 20 Oct 2008 09:50:03 GMT

A Spanish company has invented a device that turns off appliances left on standby to cut carbon emissions.

Government attempt to boost economy

Sun, 19 Oct 2008 13:59:33 GMT

The Treasury will use public spending to fend off the worst of the economic downturn, Alistair Darling said.

Brown hits out at 'unbridled' capitalism

Sat, 18 Oct 2008 12:41:33 GMT

Gordon Brown has warned the financial markets must be underpinned by society's values.

FTSE ends week on positive note

Fri, 17 Oct 2008 16:53:56 GMT

The FTSE 100 has rebounded after the previous session's heavy losses, to close up 201.6 points at 4063.

'Days of soft-touch regulation are over'

Fri, 17 Oct 2008 08:35:52 GMT

The City's days of soft-touch regulation are over, the head of the UK's financial watchdog has warned.

World News (Morning) for October 17th, 2008

Fri, 17 Oct 2008 05:16:33 GMT

Zimbabwe cabinet talks to resume - Bush to make economy statement - Arnie promises wildfire help

FTSE sheds 5% amid recession fears

Thu, 16 Oct 2008 22:20:13 GMT

The FTSE 100 has finished the session more than 5 per cent down at its lowest level since April 2003 over mounting recession fears.

FTSE ends 7% lower at 4079.6

Wed, 15 Oct 2008 16:37:06 GMT

Continued worries about a recession, weaker metals prices and profit-taking have seen £75 billion wiped off the value of FTSE 100 stocks.