May 2011 Archive

BCC cuts UK economic growth forecast

The British Chamber of Commerce (BCC) has cut its growth forecast for the UK economy for both 2011 and 2012.

B of E's Spencer Dale warns of tough times ahead for UK

The Bank of England's chief economist and Monetary Policy Committee member, Spencer Dale has warned of relatively tough times ahead for the UK.

UK growth forecast revised downwards by OECD

The UK growth forecast from the OECD is lower than for other countries in the group and developing nations worldwide.

Revised GDP figures show UK economy stagnating

The revised GDP growth figures for the first quarter of 2011 reveal that the UK economy grew by just 0.5 per cent reversing a fall of 0.5 per cent in the final quarter of 2010.

UK banks may be downgraded by Moody's

Moody's warns that UK banks with high levels of public investment – such as Lloyds and RBS – face having their ratings downgraded.

Former MPC members raise concerns over bank governance

Former members of the Bank of England's Monetary policy Committee (MPC) believe that the Bank should not be in charge of banking regulation and monetary policy.

Cable warns banks to lend more to small businesses

A Bank of England report to be released on Monday will show that the major UK banks have not lent the amount agreed to small and medium sized businesses under the Project Merlin agreement.

An introduction to franchises

With the British Franchise Exhibition coming up in June we speak to Tom Endean from the British Franchise Association who explains the franchise business model and why it increases the chances of a business succeeding.

Think tank calls for RBS & Lloyds share issue to all taxpayers

A leading Conservative think tank, the Centre for Policy Studies (CPS), has issued a report saying that taxpayers should receive shares from RBS and Lloyds as a return for bailing out the banks in 2008.

Bank's inflation report: Mervyn King says interest rates will rise

The Governor of the Bank of England has released the bank's quarterly inflation report for May and says that the medium term view on inflation and GDP growth is broadly the same as in February.

Mervyn King expected to slash UK growth forecast

The Bank of England publishes its quarterly inflation report tomorrow and the commentary and revised growth forecast given by Mervyn King will provide a clue as to the likely future of interest rates for the next two years.

Investment outlook and tips for the week ahead

Nick Raynor, investment adviser at The Share Centre previews the financial results expected in the week ahead from the likes of Sainsburys, HSBC, ITV and Centrica.

Taxpayers bank RBS moves into operating profit

Royal Bank of Scotland (RBS) which is 84 per cent owned by the UK taxpayer has announced an operating profit of £1.05 billion for the first quarter of 2011.

NIESR pegs UK GDP growth at 2% in 2012

Growth in the UK's gross domestic product is predicted to reach 1.4 per cent this year and two per cent next year, although consumer spending may be subdued.

Bank of England set to keep interest rates at 0.5 per cent

The Bank of England's Monetary Policy Committee (MPC) is expected to maintain base rate at 0.5 per cent for a record 27th month on the back of poor GDP, manufacturing and construction figures.

Portugal agrees bail-out deal with EU and IMF

Portugal's caretaker Prime Minister Jose Socrates has agreed a bail-out deal worth €78 billion with the EU and the IMF.

Sharp slowdown in manufacturing activity

The latest survey from Markit/CIPS revealing April's manufacturing activity shows a sharp slowdown in growth, confounding the expectations of analysts.

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