Britain’s Lloyds Banking Group is close to a deal with the government for a £258bn asset insurance scheme, according to BBC sources. The agreement could increase the taxpayer's share in the bank from its current level of 43% to as much as 70%, according to reports.
A leading Spanish Senator welcomed Gibraltar’s Chief Minister’s decision not to greet the Princess Royal at the runway when she arrived on an official visit to the Rock
Chinese Premier Wen Jiabao has said the current year will be the most difficult the country has faced this century because of the global economic crisis. Addressing parliament this week, Mr Wen reiterated that there would be a 585 billion US dollars investment program to stimulate the Chinese economy.
The Bank of England slashed Thursday rates to 0.5% and unveiled plans to pump up to £150 billion into the economy in its boldest bid yet to tackle the recession. Official borrowing costs have now fallen for six months in a row but the Bank's Monetary Policy Committee believes rate cuts alone will not be enough.
The European Central Bank (ECB) has cut its key interest rate to 1.5% from 2.0%, the lowest since it started setting euro rates in January 1999. It followed a cut in UK rates by the Bank of England. US and Japanese rates are, in effect, already at zero.
At the Gibraltar border, a steady stream of pedestrians and vehicles enters the territory. It is mid-morning, and the Spanish are coming. Overhead, the Union flag flutters nervously, as it has, in one form or other, since Spain ceded the Rock to the UK in 1713.
Gordon Brown has received a standing ovation from the US Congress after he called for a renewal of the special relationship for our generation. Mr Brown, the fifth UK prime minister in history to address both houses on Capitol Hill, urged the US and UK to push for essential economic changes.
HRH Princess Anne arrived in Gibraltar Wednesday on an official visit to the disputed territory that has stirred up old tensions between Britain and Spain. The Spanish government made an official complaint to British authorities ahead of the royal visit describing it as inopportune and an affront to Spain, which contests London's rule over the strategic territory.
Car sales in Brazil and Germany soared in February helped by tax breaks and a cash bonus to scrap old vehicles. In Brazil Fiat SpA reported its third straight sales increase in February and in Germany sales rose by 22% compared with the same month last year, reaching their highest level for 10 years.
The British government has been challenged to explain why Britain's most eminent historian has been barred from seeing a file kept on him by the domestic spy agency, MI5.