UNITED KINGDOM

IBTimes Logo

World economy seen shrinking as G20 meeting looms

The global economy may shrink 1-2 percent this year, World Bank President Robert Zoellick said, as revised Japanese data confirmed the world's No. 2 economy suffered its deepest slump since the oil shock of 1974.

Air Asia X takes off in UK

IBTimes Logo
Low-cost long-haul flights have returned to the UK with the launch of Air Asia X services from London to Kuala Lumpur.
IBTimes Logo

Toyota to cut UK staff pay and hours by 10 pct

The British arm of Toyota Motor Corp is to cut UK staff pay and working hours by 10 percent to save money in the face of a sharp downturn in global demand, the Japanese auto maker said on Wednesday.
More news
IBTimes Logo

China exports slump; Citi cheers investors

China's exports tumbled in February and Japan's wholesale prices fell by the most in six years, stark illustrations of a bleak world economy even as Citigroup boosted investor confidence in the banking sector.
IBTimes Logo

Citigroup cheers markets but economies still bleak

Citigroup said it was profitable in the first two months of 2009 and Toshiba was reported to be set for an operating profit of $1 billion next year, two rare shards of corporate news to lift markets.
IBTimes Logo

Global stocks rally on Citi memo

The U.S. dollar slipped and world stocks rallied in their biggest single-day gain in three months on Tuesday after a Citigroup memo saying the troubled bank made a profit in January and February fuelled the appetite for risk.
IBTimes Logo

Clean tech has record 2008

Solar power, wind and biotech made record money last year and promise excellent results in the future, but first, companies must survive the world financial crisis, a report said on Tuesday.
IBTimes Logo

Irish republican group claims new N.Ireland killing

A breakaway Irish republican group said on Tuesday it had shot dead a policeman in Northern Ireland, the second such attack in two days on a power-sharing deal that has brought peace to the British-ruled province.
IBTimes Logo

U.S. allies told to review role in secret renditions

A United Nations investigator urged U.S. allies from Britain to Pakistan on Tuesday to fully investigate whether they helped in secret renditions that led to the illegal torture or disappearance of terror suspects.
IBTimes Logo

Asian stocks gain, recovery seen fragile

Asian shares outside Japan posted their best gains in a month on Tuesday while safe-haven flight to the dollar eased, but the moves were seen as only a momentary reprieve from a gloomy economic outlook.
IBTimes Logo

EU backs IMF fund boost as Japan swings to deficit

The European Union is set to back an International Monetary Fund call for $500 billion to fight the global financial crisis, a document showed on Monday as Japan posted its first current account deficit in 13 years.
IBTimes Logo

Lloyds says UK capital stance swayed asset decision

Lloyds Banking Group said Britain's requirement for banks to hold enough capital to withstand a severe downturn was key to its decision to insure 260 billion pounds ($370 billion) of risky assets with the UK government.
IBTimes Logo

UK urged to speed up CCS as power crunch nears

Britain should cast aside its hesitation and press ahead with carbon capture and storage (CCS) projects, especially as it needs to replace many coal-fired generators, a government advisor told Reuters.
IBTimes Logo

Lloyds meets investors on asset plan, shares fall

Lloyds Banking Group starts meeting investors on Monday to garner support for its plan to insure 260 billion pounds ($370 billion) of risky assets with the UK government, which further dilutes shareholders and sent its shares tumbling.
IBTimes Logo

EU backs IMF fund boost as economic gloom deepens

European Union finance ministers are set to back a call from the International Monetary Fund to double its funds to $500 billion to fight the global financial crisis, a document showed on Monday.
IBTimes Logo

Japan gloom deepens, U.S. urges coordination

Japan swung to its first current account deficit in 13 years in January as exports collapsed, and a key U.S. policymaker said a coordinated global effort was needed to boost demand and drag the world out of recession.
IBTimes Logo

Lloyds set to meet investors on UK asset plan

Lloyds Banking Group will start meeting investors Monday to garner support for its plan to insure 260 billion British pounds ($370 billion) of risky assets with the British government.

Pages

IBT Spotlight

We Help Businesses Find B2B Service Providers They Can Trust.