With two years to go before the next general election, Britain has yet to recover the output lost during the financial crisis, inflation continues to outpace incomes and the government has reduced the budget deficit by less than a third since t
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Cameron Three Years on Yet to Find Growth Recipe: U.K. Credit
With two years to go before the next general election, Britain has yet to recover the output lost during the financial crisis, inflation continues to outpace incomes and the government has reduced the budget deficit by less than a third since t
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U.K. Industrial Output Rises More Than Forecast on Energy
Output increased 0.7 percent from February, when it gained 0.9 percent, the Office for National Statistics said today in London. The median forecast of 31 economists in a Bloomberg News survey was for a gain of 0.2 percent. Electricity and gas surged 2.4 percent, the m
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Senators Seek Way to Ease FAA Cuts
This week, the Federal Aviation Administration began furloughing air-traffic controllers to comply with the required cuts, known as the sequester. Airlines and some lawmakers have said the FAA is taking a rigid approach to the cutba
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Bird flu eats up Yum profits in China
The sharp decrease in sales dragged down net income by 26%, from $458 million in the first quarter of last year to $337 million this year.
The report topped analyst expectations, b
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Slow growth hits China factories
Global bank HSBC said its "flash" index of purchasing managers' sentiment fell to 50.5 in April from March's final reading of 51.6. Any reading above 50 signals expansion in the manufacturing sector.
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Austerity on Trial With U.S. Versus Europe Amid New Evidence
Facing another slowdown in the world economy, the U.S. and International Monetary Fund are pitched against the euro area and U.K. over whether axing budgets and debt is the recipe for recovery or recession. In academia, professors Kenneth Rogoff and Paul Krugman remain at odds.
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Tesco Calls End to Space Race as Grocer Banks on Smartphones
When Tesco amassed the plots of land to develop stores a decade ago “the smartphone hadn’t been invented and Internet retailing was
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Surprise slowdown in China
Gross domestic product grew 7.7% over the previous year during the first quarter, the National Bureau of Statistics reported Monday. That's slightly faster than the government's target of 7.5%, but well below the 8% expected b
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Obama Aims to Spur New Talks on Budget
White House officials have said the annual budget proposal would limit tax breaks for wealthier Americans, include targeted spending increases, and restrain the gr
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J.C. Penney CEO Ron Johnson to Leave
Penney's board met Monday and agreed to part ways with Mr. Johnson. Sorting out whether to press onward or roll back Mr. Johnson's changes will fall to his predecessor, Myro
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Cyprus Bank Bailout Model Has Increasing Numbers of Adherents in EU
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Cyprus banks to reopen with strict cash limits
For the first time since the euro was launched on Jan 1, 1999, a member country will restrict how much money individuals and companies can take across its borders.
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Allianz Buys Turkey’s Yapi Kredi Sigorta for $879 Million
Allianz will purchase 93.9 percent of the firm from Yapi & Kredi Bankasi AS (YKBNK), a Turkish bank part-owned by UniCredit SpA (UCG) of Italy. It will conduct a mandatory share call for the re
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How the European Union killed Cyprus in one day
After balking at the original, controversial bailout provision that required ordinary depositors to pay a “tax” or “solidarity levy” on Cypriot bank deposits, Cyprus struck an amended deal early Monday with the European Central Bank,
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Europe’s Bonus Clampdown Hits Two-Thirds of Fund Managers
Bonuses should not exceed base salaries for managers of mutual funds regulated by the European Union, known as UCITS, European lawmakers in the economic and monetary affairs committee voted yes
