Osborne “absolutely not for turning”
The Chancellor of the Exchequer is “absolutely not for turning”. He did actually say the words to me, fully conscious of their historical resonance.
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The head of the European Commission Jose Manuel Barroso urges eurozone countries to move quickly to convince the markets that they have the financial crisis under control.
Almost £50bn is wiped off the FTSE 100 as investors take cover from the economic “perfect storm” of a eurozone sovereign debt crisis, problems in the US and fears over UK growth.
Northern Rock announces reduced losses of £78.8m for the first six months of 2011 compared to losses of £140m for the same period last year.
Barclays first-half profit has fallen by a third after it was forced to set aside £1bn to compensate customers who were mis-sold insurance.
Banking giant HSBC warns it will cut 30,000 jobs worldwide by 2013 as part of a restructuring plan.
The Chancellor of the Exchequer is “absolutely not for turning”. He did actually say the words to me, fully conscious of their historical resonance.
It might be the weather, troubles abroad – or just the legacy of the past. But there often seems to be a reason why the Government’s plans for the economy never go quite to plan.
“I awake in a Europe that is still a continent, but which appears to becoming a country.”
An emergency summit reaches a deal on a new bailout package for struggling Greece, rallying the markets and bringing the eurozone back from the economic brink.
European leaders are holding emergency talks in Brussels to deal with the unfolding financial crisis. Chancellor George Osborne says the consequences could be dire if leaders fail to “get a grip”.
Europe’s leaders remain divided over how to respond to the debt crisis which threatens the very existence of the Euro. Three days before a summit they must agree a second bailout package for Greece.
As Italy prepares to sign off its austerity budget, Channel 4 News looks at the countries in Europe facing the most pain from spending cuts and tax rises.
Eight out of 90 banks in Europe have failed stress tests designed to ensure they can get through difficult economic times. Channel 4 News’ Faisal Islam says we should not write off the tests just yet.
Italy’s lower house of parliament has approved a 48bn euro austerity package to try to calm a financial market storm which has sent Italian borrowing costs soaring in recent days.
An influential investor in BSkyB tells our Business Correspondent Siobhan Kennedy that an increasing number of shareholders are calling for James Murdoch to step down as the company’s chairman.