Business in EuropeEuropean Economy Business Blog |
Reuters - British interest rates will probably fall further, the Bank of England signaled on Wednesday, with the economy already sliding into recession and unemployment recording its biggest jump since 1992.
Comments Off AFP - More grim news that Germany and Britain are battling recession and devastating profit results increased pressure Wednesday on world leaders ahead of a crisis global economy summit this weekend.
Comments Off AP - The Bank of England warned Wednesday that it expects inflation to fall below its target of 2 percent next year as the economy contracts, stoking expectations the Bank will slash interest rates again to ward off the risk of deflation.
Comments Off Reuters - The British economy will shrink sharply next year and inflation will tumble, the Bank of England predicted on Wednesday, suggesting that it will cut interest rates even below their current half-century low.
AP - Spanish airline Iberia said Wednesday its 3rd-quarter profits plummeted 80 percent to 30.4 million euros ($38.8 million) compared to the same period of 2007, as international economic slowdown sapped demand.