Bank of England cuts rates by 1.5 per cent - Update
London - The Bank of England Thursday unexpectedly cut interest rates by as much as 1.5 percentage points to 3 per cent in the banks biggest single reduction ever, the bank said. The measure was welcome by business leaders who had been urging Britai...

[ Published on : Thu, 06 Nov 2008 08:39 ]

Christies auction falls short by half of estimated prices
Washington - Art has not escaped the downward pressure of the economy, as Christies failed to get even half of the minimum prices expected for a raft of late 19th and 20th Century artworks. The New York auction house brought in only 47 million dolla...

[ Published on : Thu, 06 Nov 2008 07:39 ]

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 ]