Economy News
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Bank of England's Weale sees chance of stimulus after Carney arrival
BIRMINGHAM - The Bank of England may have more scope to boost the economy after Mark Carney starts as governor because of tentative signs of lower inflation ahead, a member of its policymaking body said on Friday.
UK economic underperformance could hit pound
LONDON - Sterling is likely to fall sharply against the dollar in the coming months, as the British economy lags a U.S. recovery and on expectations a new Bank of England chief will push for significant monetary easing.
UK trade may struggle to stand still after EU exit
GENEVA - As Prime Minister David Cameron struggles to accommodate eurosceptics in his own party, trade experts warn that quitting the European Union would force Britain not just to rework trade relations with the EU, but also with the EU's trade partners and probably the World Trade Organization.
Bank of England's King offers parting optimism on UK economy
LONDON - Bank of England Governor Mervyn King offered some rare good news for Britain's economy on Wednesday when he presented his final set of economic forecasts before stepping down after more than 20 years at the bank.
Bank of England revises away UK's double-dip recession
LONDON - Britain's double-dip recession never actually happened, revised Bank of England figures showed on Wednesday.
UK jobless claimant count falls sharply
LONDON - The number of Britons claiming unemployment benefit fell much more than expected in April, official data showed on Wednesday, in the latest sign that the economy is starting to find its feet.
Euro zone economy shrinks in Q1, marks longest ever recession
BRUSSELS - The euro zone's economy contracted for the sixth straight quarter at the start of this year, data showed on Wednesday, marking its longest recession on records dating back to 1995.
Chance of more BoE asset buys falling as outlook brightens - Reuters poll
LONDON - Britain's economy will fare slightly better than previously thought this year, reducing the chance of more asset purchases by the Bank of England, a Reuters poll found on Tuesday.
Housing demand highest since late 2009, prices rise
LONDON - Demand for housing in Britain rose to its highest level in nearly 3-1/2 years in April, helped by a new government scheme to boost the sector, and a measure of prices notched its first gain since mid-2010, a monthly survey showed on Tuesday.
Late payment costs European companies 350 billion euros
LONDON - European companies lost 350 billion euros last year due to late or unpaid bills, underlining fears that small businesses expected to drive economic recovery are faltering in a prolonged recession.
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