Quantcast
Last updated on April 18, 2014 at 17:24 EDT

Latest Economic history of the United Kingdom Stories

38e2df4fadbd674cfdbc8152aa39b6e71
2009-07-17 15:45:41

U.S. markets were flat Friday despite positive news from two large banks that have struggled throughout the financial crisis. Bank of America reported second quarter profits reached $3.2 billion, while Citigroup said profits reached $4.3 billion April through June, The New York Times reported. By close, the Dow Jones industrial average extended a positive streak through a fifth day, gaining 32.12 points, 0.37 percent, to 8,743.94. The Standard & Poor's 500 fell 0.04 percent, 0.36 points,...

2009-07-13 10:11:02

The British government admitted Monday that the taxpayer investment in two of the country's largest banks had lost $17.51 billion. From its bailout efforts, the British government owns 70 percent of the Royal Bank of Scotland and 43 percent of Lloyds Banking Group, The Times of London reported Monday. However, the UK Financial Instruments, an ad hoc committee designed to monitor the government's investment, said Monday, our own task of returning these investments to the private sector is...

2009-07-06 07:12:12

A market lull turned volatile Thursday before the Independence Day break, with U.S. markets plunging on an uptick in unemployment. The grim numbers are increasingly familiar: Manufacturing jobs declined 136,000 in the month of June on a decrease of 1.9 million since the recession began. Construction shrank by 79,000 jobs in the past 30 days and by 1.3 million in the past 19 months. The professional and business service sector shed 118,000 jobs in June, 1.5 million since December 2007....

2009-06-16 14:03:54

The British government is working on a plan to reduce nationalized bank Northern Rock's debt, sources close to the discussions said. The plan is for the bank to use its own funds to buy back debt from bondholders, which would reduce the $4.9 billion in capital the British government said last year it would give the bank to increase its lending, The Times of London reported Tuesday. The bank, which has already borrowed more than $16 billion from the government, could use part of its deposits...

2009-04-13 06:23:05

Asian and European markets turned mostly higher Monday, buoyed by stimulus spending in China and a general shift from gloomy sentiment. In Asia, the Nikkei 225 was down slightly, off 39 points, while the Hang Seng index in Hong Kong rose 2.95 percent to 14,901.41. The Singapore Straits Times pushed ahead 2.64 percent to 1,876.77, while the S&P/ASX in Australia gained 1.44 percent to 3,671.60. European markets also gained with DJStoxx 600 up 2.20 percent, the FTSE 100 in London up 1.48...

2009-02-27 14:20:17

The World Bank said it had set up a $31 billion fund to help Central and Eastern European banks weather the financial crisis. The fund was set up with the European Investment Bank and the European Bank for Reconstruction and Development, the EU Observer reported Friday. This is a time for Europe to come together to ensure that the achievements of the last 20 years are not lost because of an economic crisis that is rapidly turning into a human crisis, World Bank President Robert Zoellick said...

2009-02-26 09:04:01

U.S. markets opened higher Thursday after the government revealed its plans to help banks after markets closed Wednesday. The Treasury said it would allow banks to convert federal bailout funds to common shares, freeing up billions from their balance sheets. However, investors had grim job news to digest Thursday, as unemployment claims topped 5 million for the first time, the Commerce Department said. In midmorning trading, the Dow Jones industrial average gained 48.51 points, or 0.67...

2009-02-09 15:17:21

U.S. markets closed mixed Monday after the Treasury postponed an announcement about new rescue efforts for the nation's troubled financial system. A Treasury official said the bailout plan was intact, but undergoing minor adjustments, The Wall Street Journal reported. The government planned to unveil its bailout strategies Tuesday. After a day holding to narrow gains and slim losses, the Dow Jones industrial average closed down slightly. The index fell 0.12 percent, 9.72 points, to 8,270.87....

2009-02-06 07:24:42

The federal financial rescue plan may include dodging market-to-market rules that have forced huge write downs for U.S. banks, executives said. Financial firm executives discussing the rescue plan with government officials have said the plan may include the government purchasing frozen assets at below market-to-market value, the Financial Times reported Friday. It would then include a provision that banks provide security to make up the difference in values listed on the banks' books and the...

2009-02-03 11:36:07

The Swedish government said Tuesday it added $6 billion to its bank rescue package to help spur lending. Getting the credit markets working again is essential to avoid a worsening of the economic downturn, said Swedish Finance Minister Anders Borg and Financial Markets Minister Mats Odell said in a statement. The purpose of the capital infusion program is to increase the banks' ability to provide households and companies with credit at reasonable terms, the statement said. The government said...