Tag: United Kingdom

• Monday, July 9th 2012 - 06:13 UTC

  UK Serious Fraud Office investigating the rigging of the Libor rate

  

  The United Kingdom Serious Fraud Office (SFO) has confirmed that it has formally launched an investigation into the rigging of inter-bank lending rates. The case could lead to criminal charges being brought against individuals.

• Saturday, July 7th 2012 - 01:02 UTC

  Europe’s tallest skyscraper the Shard opens in London with 26 floors of vacant office space

  

  Europe's tallest skyscraper the Shard was inaugurated in London in a dazzling sound and light show befitting its status as the capital's brashest and most controversial building.

• Thursday, July 5th 2012 - 22:25 UTC

  Bank of England pumps further £50 billion to the economy; total stimulus £375 bn

  

  The Bank of England has announced on Thursday it will pump a further £50bn into the UK economy over the next four months through its quantitative easing (QE) program to try to help the economy.

• Thursday, July 5th 2012 - 18:07 UTC

  Drastic cut in UK Armed forces manpower preparing for “the Army of the future”

  

  UK’s Defence Secretary Philip Hammond announced that 17 units are to be axed from the British army as part of sweeping reforms that will reduce its overall strength by 20.000 posts.

• Wednesday, July 4th 2012 - 23:00 UTC

  Libor rate manipulation: Barclays’ former CEO does not convince PMs and points to Bank of England

  

  British banker Bob Diamond has revealed that one of his big fears during the 2008 global credit crisis was that his bank, Barclays, would be taken over by the British government.

• Wednesday, July 4th 2012 - 18:29 UTC

  Cameron prepared to restrict immigration from Euro zone countries

  

  Britain could restrict the immigration of Greeks and other citizens of Euro zone countries affected by Europe's sovereign debt crisis in the event of “extraordinary stresses and strains”, Prime Minister David Cameron said.

• Wednesday, July 4th 2012 - 05:58 UTC

  Barclays CEO resigns as the Libor rate fixing scandal widens

  

  UK Barclays chief executive Bob Diamond suddenly quit on Tuesday over an interest rate-rigging scandal that threatens to drag in a dozen more major lenders but suggested the Bank of England had encouraged his bank to manipulate the figures

• Monday, July 2nd 2012 - 06:19 UTC

  PM Cameron suggests referendum on UK’s conditions and EU membership

  

  British Prime minister David Cameron has indicated that a referendum on the United Kingdom’s conditions of European Union membership is increasingly likely, but ruled out one that offers voters a straight “in or out” choice.

• Saturday, June 30th 2012 - 05:12 UTC

  Wikileaks Assange “declines to comply” police order and remains at Ecuadorean embassy

  

  Wikileaks founder Julian Assange is ignoring a London Metropolitan Police order to surrender himself at a police station, his representative has said. Susan Benn said he was advised to “decline to comply” and will remain inside the Ecuadorian embassy while his application for asylum is processed.

• Friday, June 29th 2012 - 01:13 UTC

  Britain forecasted to import 80% of gas consumed as early as 2016

  

  Britain’s declining oil and gas industry may be a minnow on the world stage, 20th largest oil producer and 15th largest gas producer in 2010, but it is still remarkably important for jobs and the UK economy, reports Citywire.