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• Sterling slides to two-year low against dollar

  - 2008-08-15

  LONDON AFP — The British pound hit a two-year low point against the dollar on Friday as dealers predicted interest rate cuts from the Bank of England to combat flagging economic growth. Sterling slumped to 1.8512 dollars -- the lowest point since July 26, 2006. It later Friday stood...

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• Bank of England announces 50-billion-pound rescue package

  - 2008-04-21

  LONDON AFP — The Bank of England announced a 50-billion-pound plan on Monday to allow banks to swap home loans for government bonds amid ongoing turmoil from the global credit crunch. "The Bank of England is today launching a scheme to allow banks to swap temporarily their high quality...

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• Newly-nationalised Northern Rock to post results

  - 2008-03-30

  LONDON AFP — Recently nationalised British bank Northern Rock will post its annual results Monday, with reports predicting plunging profits and a large pay-off for its former chief executive. A spokesman for the bank confirmed that the 2007 results would be published Monday morning, months later than originally planned....

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• Bank of England offers more liquidity for money markets

  - 2008-03-20

  LONDON AFP — The Bank of England said on Thursday it would inject 5.0 billion pounds into short-term money markets every week until April 9. The British central bank said in a short statement that it would offer a further 5.0 billion pounds on Thursday, following a similar injection...

  Tags: Agence France-Presse, Bank of England, FINANCE, Investment, liquidity, squeeze

• British finance minister defends actions over Northern Rock

  - 2008-01-26

  LONDON AFP — Britain's finance minister Alistair Darling on Sunday defended his handling of the crisis at troubled bank Northern Rock, after a highly critical report by an influential committee of lawmakers. In an article for the News of the World weekly, the chancellor of the exchequer accepted that...

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• Britain reveals private sector rescue plan for Northern Rock

  - 2008-01-20

  LONDON AFP — The British government on Monday published plans to keep Northern Rock, the bank almost sunk by the global credit squeeze, in the private sector -- but admitted it could still be nationalised. The Treasury said it preferred a private sector buyout of the stricken British mortgage...

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• British inflation steady at 2.1 percent in December: official

  - 2008-01-15

  LONDON AFP — British inflation was unchanged at an annual rate of 2.1 percent in December, official data showed on Tuesday. The 12-month inflation rate, unchanged from November and October, remained above the Bank of England's 2.0-percent target, the Office for National Statistics ONS said in a statement. ...

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• M&S shares plunge as Christmas trading disappoints

  - 2008-01-09

  LONDON AFP — The value of British retailer Marks & Spencer collapsed by almost a fifth on Wednesday after the group reported weak sales in the crucial Christmas trading period and issued a gloomy outlook for 2008. M&S shares dived 18.72 percent to close at 409.25 pence on London's...

  Tags: Agence France-Presse, analyst, Bank of England, London, M&S, Marks & Spencer, Retail, SALES

• Britain extends help to Northern Rock

  - 2007-12-18

  LONDON AFP — Britain's Labour government Tuesday agreed to extend its guarantee to all customer deposits held at Northern Rock as the British bank severely hit by the global credit squeeze awaits being taken over. The extension came as the Bank of England begins the process of offering 11.35...

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• British finance minister welcomes global cash injection

  - 2007-12-13

  LONDON AFP — British finance minister Alistair Darling on Thursday welcomed the decision by the Federal Reserve and other central banks -- including the Bank of England -- to inject cash and confidence back into tight eurozone money markets. Speaking to The Guardian, Darling said the decision "was both...

  Tags: Agence France-Presse, bank, Bank of England, Federal Reserve Board, finance