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Exclusive: Bank of England Deputy Governor Charlie Bean tells Channel 4 News Britain’s savers should “eat into” their reserve cash now to help them survive historically low interest rates.
George Osborne is called on for an emergency debate questioning the government’s programme of cuts, as the spectre of collective union strikes rises on the back of the TUC’s meeting in Manchester.
In June Barack Obama likened the Gulf of Mexico oil spill to the terror attacks of September 11, 2001. It was one of several incendiary comments from the president critical of BP.
George Osborne may have underestimated his ability to impact personally on the consciousness of the British people. After his ‘Emergency’ Budget in June, it appears the UK ran for the hills, cowering in fear at the looming axe man, writes Channel 4 News Economics Editor Faisal Islam.
Following on from Bailout 1.0 (the banking system) and Bailout 2.0 (the economy), Bailout 3.0 focuses on the RBS and Lloyds, two banks in which the government has acquired a significant stake.
I was returning from holiday this morning through Miami airport expecting to report on the end of the British recession. In the US, the economic situation is now commonly referred to as “The Great Recession”. I think on that basis, following today’s third quarter GDP numbers our own quagnmire can confidently be termed “The Greatest…
Cracks were showing in Britain’s banking powerhouses as early as 2005, as bad debt was sold and consumers were sucked into a credit vortex. An “ugly” correction was on the cards.
It was the inflation forecast that wasn’t. The Bank of England still seemed more concerned with deflationary tendencies in the economy. And Mervyn King appeared ultra-cautious about any sort of forecast. At one point the governor of the Bank of England even implored the assembled economics hacks to help him explain to the country just…
The world is in an era of epic economics. So huge are the challenges, they will define domestic politics for years. Forget about the right answers, politicians are only just beginning to come up with the right questions. And in this strange new world there often is no right answer. The international aspects of the…
SINGAPORE – When Gordon Brown said that he wouldn’t be dictated to by “a few speculators who want to make money out of Britain,” he was talking about Jim Rogers. Peter Mandelson called Mr Rogers “foolish“. Those were understandable responses to Mr Rogers’ assertions that post-oil-and-credit-boom Britain “had nothing left to sell” and that “sterling…
Across the country a run on Britain’s fifth largest lender after the Bank of England offers Northern Rock unlimited support.
Jon Snow
The Great Mosque of Brussels is said to remain a centre of Saudi-funded Wahhabi preaching and Salafism.
The UK security services are examining an Islamic State murder video featuring a man and a young boy with British accents.
King Abdullah’s death has trained a spotlight on Saudi Arabia, one of the most devout and politically insular countries in the Middle East. Here are some facts about the kingdom you may not know.
Lindsey Hilsum
It’s startling to hear someone advocate all out warfare: no negotiations with Iran, a campaign to defeat Assad by military means, faith in a “moderate” opposition.