Posts Tagged ‘Britain’

Iceland to repay Britain $3.45 billion debt due to Icesave Bank failure

Vittorio Hernandez – AHN News Reykjavik, Iceland (AHN) – Iceland will start repaying a $3.45 billion (EUR 2.6 billion) from Britain in 2016. Reykjavik owed the amount to London after the online Icesave Bank failed two years ago. The agreement to repay ends two years of dispute over interest rates between the two countries after [...]

Britain’s FSA Refuses To Publish Results Of Royal Bank Of Scotland Probe

AHN News Staff London, England, United Kingdom (AHN) – Anger is growing throughout Britain over the refusal by the Financial Services Authority to publish the result of its investigation of the Royal Bank of Scotland failure. The FSA commissioned PricewaterhouseCoopers to probe the RBS, which needed a $67.5 billion (GBP 45 billion) government bailout after [...]

Europe and development aid: Waylaid

Exuberant promises to raise aid spending are unlikely to be fulfilled THERE is a lot of financial aid sloshing around inside the European Union. But there will soon be less of it flowing out. At the G8 summit in Gleneagles in 2005, when the rich world made heroic pledges to tackle poverty in Africa, EU [...]

Britain’s Budget Office Forecasts Inflation To Outpace Income Growth

AHN News Staff London, England, United Kingdom (AHN) – Britain’s Office for Budget Responsibility warned Monday that the country’s inflation rate would likely outpace income growth over the next two years. The OBR forecasts 2011 inflation rate at 2.8 percent, while average earnings will rise by only 2.2 percent. The higher Consumer Price Index outlook [...]

Britain is back on track, says George Osborne

Chancellor seizes on Office for Budget Responsibility forecasts to say government will stick to the course he set out in June budget George Osborne said that Britain was “back on track” today after hailing his fiscal watchdog’s report as proof that the government’s plan to take the UK out of the financial danger zone and [...]

UK economy ‘on the mend’

– Andrew Sparrow with all today’s political news, including George Osborne’s ‘autumn statement’ on the state of the UK economy – Read Andrew Sparrow’s lunchtime summary 4.19pm: Edward Leigh, a Conservative, says public spending is still going up, despite “these so-called cuts”. There should be more efficiency savings, he says. Osborne says there has to [...]

Ireland must find €17.5bn from reserves and pensions

Contribution demanded at meeting of eurozone ministers as proposals to shore up euro also outlined EU ministers tonight spelt out the terms of Ireland’s €85bn international financial rescue package, and revealed the Dublin government will have to raid its national pension fund and other cash reserves for €17.5bn as a condition of the deal to [...]

U.S. Refuses WikiLeaks Request For Information About Threatened Individuals

Tejinder Singh – AHN News Correspondent Washington, DC, United States (AHN) – The United States on Saturday responded with counter proposals to a letter from WikiLeaks requesting information about the persons mentioned in the thousands of documents set for release by the website. Citing WikiLeaks’ request for information regarding individuals who may be at “significant [...]

Economics focus: The joyless or the jobless

Should governments pursue happiness rather than economic growth? IN 2006 Richard Layard, an economist at the London School of Economics, argued that unhappiness was a bigger social problem in Britain than unemployment. In the “Depression Report”, which he co-wrote, Lord Layard pointed out that more people were claiming incapacity benefits because of depression and other [...]

British Troops Likely To Leave Iraq By May 2011

AHN News Staff Basra, Iraq (AHN) – Britain has announced that a majority of 150 of its remaining troops will come home from Iraq by spring next year. According to military spokesman Maj. Gen. Lorimer, Britain is planning to withdraw more than 100 British sailors from Iraq once they finish providing training sessions to the [...]

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