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Jul 20, 2011

Bank flags no rate rise in prospect

LONDON (Reuters) – Britain’s growth outlook has darkened and interest rates are unlikely to rise any time soon, the Bank of England said, reinforcing the view that rates will stay at 0.5 percent for another year.

Minutes to the BoE’s July meeting published on Wednesday acknowledged that the economy’s soft patch “would persist for longer than previously thought”.

Jul 10, 2011

Pressure mounts on UK government to halt Murdoch/BSkyB deal

LONDON (Reuters) – Prime Minister David Cameron came under growing pressure Sunday to halt Rupert Murdoch’s bid for pay-TV operator BSkyB, at least until an investigation into phone-hacking at the media magnate’s newspapers has been completed.

Opposition leader Ed Miliband said he would force the issue to a parliamentary vote this week if Cameron failed to act.

Jul 10, 2011

Pressure mounts on UK govt to halt Murdoch/BSkyB deal

LONDON, July 10 (Reuters) – Prime Minister David Cameron
came under growing pressure on Sunday to halt Rupert Murdoch’s
bid for pay-TV operator BSkyB, at least until an investigation
into phone-hacking at the media magnate’s newspapers has been
completed.

Opposition leader Ed Miliband said he would force the issue
to a parliamentary vote this week if Cameron failed to act.

Jul 9, 2011

Murdoch flies to London to tackle phone-hack crisis

LONDON (Reuters) – Rupert Murdoch was expected to fly into London to tackle a phone-hacking crisis while journalists prepared the last edition of a newspaper they say he is sacrificing to safeguard his plans to expand his media business.

The planned visit of the News Corp chief executive coincided with calls on Prime Minister David Cameron to speed up an inquiry into the scandal, which could jeopardize Murdoch’s proposed takeover of a British broadcaster and has raised questions about relations between media and politicians.

Jul 7, 2011

BoE keeps key rate on hold, no rise seen till 2012

LONDON (Reuters) – The Bank of England kept its key interest rate at a record low on Thursday, as expected, and is likely to stay put for the rest of the year as the economy struggles to gain momentum.

A stream of disappointing economic data had meant the no-change verdict was a foregone conclusion and there was no market reaction.

Jul 7, 2011

Factbox – Bank of England doves in ascendancy

LONDON (Reuters) – Worries that Britain’s recovery is losing steam are likely to persuade the Bank of England to keep interest rates on hold not only this month but possibly well into next year.

The nine-member Monetary Policy Committee voted 7-2 in June to keep rates at 0.5 percent. Former Goldman Sachs economist Ben Broadbent, who replaced arch-hawk Andrew Sentance, joined the majority in voting to keep rates at a record low.

Jul 7, 2011

UK rates to stay at record low as economy wobbles

LONDON, July 7 (Reuters) – Concern about the pace of
economic recovery looks set to persuade the Bank of England to
keep interest rates at rock-bottom not just this week but for
months to come.

UK interest rates have stood at 0.5 percent since March
2009, when a deep recession and the threat of deflation prompted
central banks around the world to slash rates to record lows.

Jul 5, 2011

UK services PMI growth remains lacklustre in June

LONDON (Reuters) – Britain’s service sector performed better than expected in June but growth was still not strong enough to generate jobs, a purchasing managers’ survey showed on Tuesday.

The Markit/CIPS headline services PMI index nudged up to 53.9 last month from a three-month low of 53.8 in May. That was above the 53.5 that economists had forecast, and gave a boost to the pound.

Jul 1, 2011

Bank to keep rates on hold as economy flags

LONDON (Reuters) – Concern about the pace of economic recovery looks set to persuade the Bank of England to keep interest rates at rock-bottom not just next week but for the rest of the year.

After contracting at the end 2010, the economy has struggled to gather pace. Consumer confidence has tumbled, the labour market is stagnant and the full force of government spending cuts has yet to be felt.

Jun 24, 2011

Euro zone debt “most immediate threat”-UK risk watchdog

LONDON, June 24 (Reuters) – The euro zone’s debt crisis
poses the biggest threat to Britain’s financial stability and
banks must come clean on their full exposure, Britain’s new risk
watchdog said on Friday.

The Financial Policy Committee, which is operating in an
interim capacity until legislation is passed next year, also
turned up the heat on banks to use strong profits to boost
capital cushions.

    • About Christina

      "Christina Fincher is an economics correspondent based in London. She joined Reuters 12 years ago and has spent much of that time covering financial markets -- foreign exchange, fixed income and credit. Prior to that she worked as a translator for FT Information, where she worked with both French and Italian."
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