An international crackdown on Internet financial scams this year has yielded more than $2.1 billion in seized fake checks and 77 arrests in the Netherlands, Nigeria and Canada, U.S. and other authorities said on Wednesday.
Bear Stearns Cos said on Wednesday it was cutting 310 jobs in its mortgage lending business, making the Wall Street bank the latest to lay off staff as a result of the lingering subprime mortgage crisis.
Belgian-Dutch financial services group Fortis won conditional clearance on Wednesday from the European Commission for its proposed acquisition of parts of Dutch peer ABN AMRO.
Northern Rock's advisers are in talks with U.S. buyout firm JC Flowers over a rescue bid for the stricken UK mortgage bank, as U.S. firm Cerberus also considers a move, sources familiar with the matter said.
Today in the UK, on the first day of the Conservative Party Conference in the seaside town of Blackpool, the Shadow chancellor George Osborne will be laying out some of his tax policies to his party and potential voters.
IBM said on Monday that it will set up a joint venture company that will run services for two counties in South West England, handling areas from computer systems to human resources, procurement and finance.
BBC Worldwide, the commercial arm of the British Broadcasting Corp, bought Lonely Planet in a deal that values the travel publisher at about 100 million pounds ($203 million), a person familiar with the talks said.
The world's major powers will try to narrow their differences on tougher sanctions against Iran when they meet on Friday in New York, seeking to keep up pressure on Tehran to curb its nuclear program.
The probability of a recession in the United States has increased but is still less than 50/50, former Federal Reserve Chairman Alan Greenspan said in comments broadcast on Friday.
Renewed concerns over tight supplies and expectations of strong demand in the last quarter of the year sent lead prices to a record high on Thursday, while copper rose to a two-month high on a weak dollar.
Russia is unlikely to support new U.N. sanctions against Iran over its nuclear program until after the U.N. atomic watchdog's latest study of Iran's activities, which may not be completed until December, the French foreign minister said on Thursday.
British Airways ended decades of loyalty to Boeing's 747 jumbo with a switch to Airbus's new A380 superjumbo on Thursday as it announced a mixed plane order worth up to $8.2 billion.
Employees are contributing too little to defined-contribution work pension schemes to support themselves well in retirement, according to a survey by consulting firm Mercer.
British Airways ended decades of loyalty to Boeing's 747 jumbo with a switch to Airbus's new A380 superjumbo on Thursday as it announced a mixed plane order worth up to $8.2 billion.
The United States rejected on Wednesday Iran's claim that its nuclear program is a "closed" matter and said it would keep pushing for fresh U.N. Security Council sanctions that are resisted by China and Russia.
The gross domestic product of the U.K. grew by 0.8 percent in the second quarter, according to a new report released by the Office for National Statistics (ONS), on Wednesday.
The cries of tens of thousands of people led by Buddhist monks, who are staging anti-junta protest rallies in Myanmar at the risk of a government crackdown, has reached the ears of the US President George W. Bush, who is expected to take up the issue in his speech Tuesday to the General Assembly and urge the U.N. to uphold its pledge to fight for freedom and impose new sanctions against the repressive military regime in Myanmar.
Britain's government has appointed U.S. investment bank Goldman Sachs to advise it on Northern Rock, a source close to the Treasury said, as the stricken bank told politicians its business was sound.
The dollar steadied above the previous day's 15-year troughs against a basket of currencies on Tuesday, as investors awaited U.S. data to determine how deeply the global credit crunch has affected the economy.
The turbulence on global financial markets will clearly affect the UK economy and inflation but it is too early to tell by how much, Bank of England hawk Andrew Sentance said on Monday.
This morning, the British Prime Minister, Gordon Brown gave his assurances that stable economic policies would keep inflation down in the medium to long term.
Three leading hedge funds are planning a break-up of beleaguered British bank Northern Rock , according to a newspaper report on Sunday.
