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Bank of England hikes interest rate from 0.10% to 0.25% to combat inflation
World

Bank of England hikes interest rate from 0.10% to 0.25% to combat inflation

The BoE's monetary policy committee voted 8-1 in favour of the first interest rate hike in more than three years, but unanimously decided to maintain quantitative easing stimulus

Global stock market down on inflation as investors worry about brewing energy crisis
World

Global stock market down on inflation as investors worry about brewing energy crisis

World markets have come under pressure in recent weeks as the reopening of economies and supply chain woes fuel inflation, with a rally in commodity prices a major contributory factor

UK economy could suffer deepest annual contraction in more than three centuries due to covid-19, warns Bank of England
Business

UK economy could suffer deepest annual contraction in more than three centuries due to covid-19, warns Bank of England

The Bank of England warned Thursday that the British economy could suffer its deepest annual contraction in more than three centuries as a result of the coronavirus pandemic, before bouncing back next year

Gold prices slip after rising 1% in previous session as dollar firms up; weak equities cap losses
Business

Gold prices slip after rising 1% in previous session as dollar firms up; weak equities cap losses

Spot gold eased 0.2 percent to $1,689.45 per ounce by 0031 GMT, while plummeting US crude oil prices increased bullion’s safe-haven appeal on Monday.

Fed, Bank of England ramp up emergency responses to escalating coronavirus recession; push deeper into uncharted territory
Business

Fed, Bank of England ramp up emergency responses to escalating coronavirus recession; push deeper into uncharted territory

The Fed, in its boldest move to date to soften the historic shutdown of much of the US economy, pledged $2.3 trillion to help local governments on the front lines of the health crisis and to prop up small and mid-sized businesses.

Gold gains after a fall in previous session; set for second weekly drop amid flight for cash, widening economic fallout
Business

Gold gains after a fall in previous session; set for second weekly drop amid flight for cash, widening economic fallout

Spot gold rose 0.4 percent to $1,475.43 per ounce by 0029 GMT. It was down more than 3 percent for the week

Asia shares seek calm as Wall Street ekes out gains; bonds rally, oil bounces back, dollar rush causes stress
Business

Asia shares seek calm as Wall Street ekes out gains; bonds rally, oil bounces back, dollar rush causes stress

The dollar’s surge is a nightmare for the many countries and companies that have borrowed heavily in the dollar, leading to yet more selling of emerging market currencies in a negative feedback loop.

Asian markets skid again; selling restrained by hopes of central bank rate cuts, stimulus talks
Business

Asian markets skid again; selling restrained by hopes of central bank rate cuts, stimulus talks

Speculation of more central bank rate cuts and possible fiscal stimulus saw US Treasury yields edge up from historic lows, and oil prices paused after the steepest fall since the 1991 Gulf war.

Sensex surges over 800 points in morning session, Nifty regains 11,900-mark; RIL, HDFC, ITC lead amid firm global cues
Business

Sensex surges over 800 points in morning session, Nifty regains 11,900-mark; RIL, HDFC, ITC lead amid firm global cues

HDFC was the top gainer in the Sensex pack, rising up to 2.5 percent, followed by Reliance Industries, UltraTech Cement, Hero MotoCorp, ITC, IndusInd Bank and HDFC Bank.

World War II codebreaker Alan Turing will be featured on UK's new 50 pound note
World

World War II codebreaker Alan Turing will be featured on UK's new 50 pound note

He killed himself at the age of 41 after facing chemical castration under Victorian-era homophobic laws.

Global economy: Euro zone growth limping as US-China trade war escalates
Business

Global economy: Euro zone growth limping as US-China trade war escalates

Trade fears in Britain are focused on what deal it can strike with the European Union before leaving the bloc at the end of March.

Two years on, Brexit reflects poorly on UK's economy as Therasa May govt remains split on relations with EU
World

Two years on, Brexit reflects poorly on UK's economy as Therasa May govt remains split on relations with EU

There are those who favor a "hard Brexit," a clean break that takes Britain out of the bloc's free trade union but also gives it more freedom to strike new trade deals around the world.

Former RBI governor Raghuram Rajan among probables for top job at Bank of England, says report
Business

Former RBI governor Raghuram Rajan among probables for top job at Bank of England, says report

Raghuram Rajan, former governor of the Reserve Bank of India (RBI), has been named as one of the possible contenders for the top job at the Bank of England

Bitcoin loses more than one-fifth of its value after recently hitting all-time high
News & Analysis

Bitcoin loses more than one-fifth of its value after recently hitting all-time high

The fall tempers an astronomical rise for the cryptocurrency in recent months - bitcoin was up almost 1100 percent year-to-date on Wednesday.

Bitcoins not big enough to threaten global economy, investors need to do their homework, says Bank of England dy gov
Business

Bitcoins not big enough to threaten global economy, investors need to do their homework, says Bank of England dy gov

The cryptocurrency has climbed 10-fold so far this year, the largest gain of all asset classes and prompting sceptics to warn it is a classic speculative bubble.

Bank of England pushes the cyber security testing framework for banks with CBEST
News & Analysis

Bank of England pushes the cyber security testing framework for banks with CBEST

The recent theft of money from accounts at retailer Tesco's online banking arm caused the British authorities to enact contingency plans to allow lenders to share information after the attack, the Bank of England said on Wednesday.

'Today financial markets are beyond the control of policymakers', says Sebi chief UK Sinha
Business

'Today financial markets are beyond the control of policymakers', says Sebi chief UK Sinha

The Sebi chief noted that balance sheets of major banks like that of the US Fed, the European Central Bank, Bank of England and Bank of Japan, which have been following near-zero or even negative interest policies, have become too large

Bank of England chief defends post-Brexit policy, says BoE action reduced recession risks
World

Bank of England chief defends post-Brexit policy, says BoE action reduced recession risks

Carney said he was "absolutely serene about" forecasts made by the BoE ahead of the shock vote outcome.

Oil prices slide further as Brexit concerns resurface
Business

Oil prices slide further as Brexit concerns resurface

A warning from the Bank of England that there was evidence risks from the 23 June Brexit vote "have begun to crystallise" sent shudders through world markets