UK current account no existential threat - BoE's Broadbent


LONDON - Britain's large current account deficit does not pose "an existential threat" to the country's recovering economy, thanks in large part to confidence in economic policymaking, a top Bank of England official said on Tuesday.


Britain cuts EU migrants' access to welfare payments 3:24am BST

LONDON - Prime Minister David Cameron on Tuesday set out new welfare rules to cut European migrants' access to social security payments, marking the latest in a string of British measures aimed at addressing voters' concerns over immigration.


Lloyds not off hook yet after $370 million Libor fines 28 Jul 2014

LONDON - Lloyds Banking Group could face further punishment after agreeing to pay fines totalling $370 million (217.80 million pounds) for its part in a global interest rate rigging scandal and for attempting to manipulate fees for a government lending scheme to help banks.


IMF says UK interest rates should stay low for now 28 Jul 2014

LONDON - The Bank of England won backing from the International Monetary Fund on Monday for keeping interest rates low, even as the IMF welcomed signs that Britain's surprisingly strong economic recovery is broadening.

Britain sets out shale rules with new oil, gas licensing round 28 Jul 2014

LONDON - The British government took steps to speed up energy exploration including controversial hydraulic fracturing for shale gas on Monday with a new licensing round for companies looking for onshore oil and gas.


Many investors face Scotland exit risk unprotected 27 Jul 2014

LONDON - Less than two months before an independence vote that could ultimately tear apart a G7 country, investors in financial markets seem largely unmoved.


Australia's NAB sells $1 billion UK property loan portfolio 28 Jul 2014

MELBOURNE - National Australia Bank Ltd has agreed to sell a 625 million pound ($1 billion) portfolio of mostly non-performing UK commercial property loans to an affiliate of private equity firm Cerberus Global Investors.


Russia should lose 2018 soccer World Cup over Ukraine - UK deputy PM 27 Jul 2014

LONDON - Russia should be stripped of the right to host the 2018 football World Cup unless President Vladimir Putin stops destabilising Ukraine, Britain's Deputy Prime Minister Nick Clegg said on Sunday, warning the world would look weak if it did not act.


Britons warier about house-buying - Halifax 28 Jul 2014

LONDON - Britons are feeling much less positive about buying a house while sentiment toward selling is improving, according to a survey on Monday which added to other suggestions that the housing market is losing a bit of steam.

Briton kidnapped in Yemen has been released - Foreign Office 27 Jul 2014

LONDON - A British teacher who was kidnapped in Yemen in February has been released safely, the Foreign Office said on Saturday.