The Bank of England said on Thursday it would expand its quantitative easing program by 25 billion pounds to help kick-start Britain's recession-hit economy.
Oil major BP may start construction next year of a cellulosic biofuel plant as part of a push toward commercial production of new types of biofuels from next year, the head of the group's biofuels division said.
Sterling jumped, UK gilts tumbled and British stocks briefly slipped on Thursday after the Bank of England expanded its quantitative easing programme by 25 billion pounds, allaying some concerns about a bigger increase.
Britain's top shares fell 0.5 percent around midday on Thursday, as investors digested the Bank of England decision to keep interest rates on hold and said it will pump more money into the economy to spur growth.
The Bank of England expanded its quantitative easing programme by 25 billion pounds to 200 billion pounds on Thursday, continuing its unprecedented scheme to revive Britain's recession-hit economy.
Risk aversion ahead of key central bank policy decisions put pressure on Britain's leading shares around midsession on Thursday, with weakness in banks and miners offsetting modest gains in defensive telecoms and tobacco firms.
The Bank of England said on Thursday it would expand its quantitative easing programme by 25 billion pounds to help kick-start Britain's recession-hit economy.
Gold prices retreated on Thursday from the record highs they hit in the previous session as the dollar rose ahead of policy decisions from the UK and the euro zone, which curbed appetite for assets seen as higher risk.
An Afghan policeman killed five British soldiers at a checkpoint in Afghanistan and the Taliban said he was one of their fighters who had infiltrated the force.
Molson Coors Brewing Co said beer volumes continue to decline in the current fourth quarter as consumers remain focused on value, and shares fell 8.5 percent.
GMAC Financial Services, a lender that has received $12.5 billion in government bailouts, posted a third straight quarterly loss on Wednesday, hurt by red ink in its mortgage business.
The Australian Dollar opens higher today at 0.9120 against the greenback. As expected, the US Federal Reserve left interest rates unchanged at the current setting of zero to 0.25 per cent. The Aussie moved to an offshore high at time of writing of 0.9143. During the domestic session on Wednesday, the unit slid down to 0.8970 as retail trade fell 0.2 per cent in September. The disappointing number does not support the case for a third consecutive hike in interest rates by the Reserve Bank of Aust...
Kraft Foods Inc, which has secured a $9 billion bridge loan backing an expected bid for UK confectioner Cadbury, has been contacted by more banks keen to join the deal, senior bankers said on Wednesday.
Kraft Foods Inc faces a tougher task winning over Cadbury Plc shareholders after disappointing results reinforced the view that it will formalize its existing offer for the British chocolatier next week rather than present a higher bid.
The U.S. services sector grew modestly for a second month in a row in October and private sector employers cut jobs at the slowest pace in more than a year, adding to signs the economy is crawling back to health.
Molson Coors Brewing Co said beer volumes continue to decline in the current fourth quarter as consumers remain focused on value, pushing shares down 7 percent despite a better-than-expected quarterly profit.
The general insurance industry may not be able to cope with the increased frequency and severity of floods and typhoons brought about by climate change, the Association of British Insurers (ABI) said on Wednesday.
Freed British mercenary Simon Mann said his homecoming was the most wonderful he could have imagined, after earlier expressing relief that his West African coup attempt had failed.
Peterborough Renewable Energy Limited (PREL) has been granted approval to build a waste recycling and green power plant that could eliminate the need for landfill sites in the area, the government said on Wednesday.
The abruptly scrapped sale of GM's Opel is not the first example of a deal born of the financial crisis being undone by the economic recovery, and probably won't be the last.
U.S. food group Kraft will be willing to pay only 800 pence a share for Cadbury after Kraft's CEO cautioned on overpaying for the British confectionery group, Investec Securities said on Wednesday.
The U.S. services sector, which represents about 80 percent of U.S. economic activity, grew for the second consecutive month in October, while the labor market also showed signs of improvement in data published on Wednesday.