Bank of England warns of further risks in financial sector
London - The Bank of England (BoE) said in a report published Tuesday that losses suffered by global financial institutions since the credit crunch are estimated at 1.8 trillion pounds (2.8 trillion dollars). Governments around the world have spent m...

[ Published on : Wed, 29 Oct 2008 06:32 ]

Bank of England says British economy is already in recession
London - The British economy is already in recession and will shrink by as much as 2 per cent by early 2009, the Bank of England (BoE) said Wednesday. The banks quarterly inflation report, presented by central bank governor Mervyn King Wednesday, sa...

[ Published on : Wed, 12 Nov 2008 08:42 ]

Britains Royal Bank of Scotland expects 2008 full-year losses
London - Britains Royal Bank of Scotland (RBS), which is in line to benefit to the tune of 20 billion pounds (31 billion dollars) from a government bail-out programme, Tuesday unveiled more write- downs and signalled that it expected to make its fir...

[ Published on : Tue, 04 Nov 2008 10:38 ]

BP reports huge profit rise in third quarter of 2008 - Summary
London - British Prime Minister Gordon Brown Tuesday called on energy companies to pass on the fall in oil prices to consumers as anger spread over a mammoth leap in quarterly profits for oil giant British Petroleum (BP). In its biggest-ever quarterl...

[ Published on : Wed, 29 Oct 2008 06:32 ]