Reuters: Business News

Britain's top rating looks set to survive despite threat

Tue, 14 Feb 2012 15:02:48 +0000

LONDON (Reuters) - Britain's top-notch credit rating is expected to survive the threat of a downgrade because of the government's resolve to erase a huge budget deficit and the central bank's ability to print money.

Inflation drops to lowest since Nov 2010

Tue, 14 Feb 2012 13:56:21 +0000

LONDON (Reuters) - Inflation dropped sharply in January as the effect of a rise in 2011 sales tax fell away, supporting Bank of England forecasts for a sharp easing of price pressures this year and providing some relief for cash-strapped consumers.

U.S. retail sales rise 0.4 percent in January

Tue, 14 Feb 2012 15:40:11 +0000

WASHINGTON (Reuters) - U.S. retail sales rose less than expected in January as consumers cut back on car purchases and did less online shopping.

European shares slip on U.S. retail sales

Tue, 14 Feb 2012 17:04:53 +0000

LONDON (Reuters) - European shares fell on Tuesday, after weaker-than-expected U.S. retail sales cast doubt on the strength of the recovery in the world's biggest economy.

Moody's warns may cut AAA-rating for UK and France

Tue, 14 Feb 2012 12:54:08 +0000

NEW YORK (Reuters) - Rating agency Moody's warned it may cut the triple-A ratings of France, Britain and Austria and it downgraded six other European nations including Italy, Spain and Portugal, citing growing risks from Europe's debt crisis.

Greece rushes to meet lender demands, eyes defence cut

Tue, 14 Feb 2012 17:01:49 +0000

ATHENS (Reuters) - Greece's government was considering further cuts to defence spending and public sector salaries Tuesday to secure approval for a multi-billion-euro EU/IMF rescue package, government sources said.

UK bolsters clearing lawsuit against ECB

Tue, 14 Feb 2012 13:42:57 +0000

LONDON (Reuters) - Britain has filed a second lawsuit in the European Union's top court to stop the European Central Bank forcing clearers like London-based LCH.Clearnet to relocate to the euro zone.

EU to punish Spain for deficits, inaction

Tue, 14 Feb 2012 17:25:16 +0000

BRUSSELS/MADRID (Reuters) - The European Union is likely to take action against Spain's newly installed government by May for delaying austerity measures ahead of a regional election next month, sources familiar with the situation have told Reuters.

German economy pulls away from European pack

Tue, 14 Feb 2012 16:51:32 +0000

BERLIN (Reuters) - German analyst and investor sentiment leapt to its highest level in 10 months in February, reinforcing signs that Europe's largest economy is returning to growth as the rest of the euro zone faces a mild recession.

InterContinental looks to China to drive growth

Tue, 14 Feb 2012 14:18:09 +0000

LONDON (Reuters) - World No 1 hotelier InterContinental Hotels is looking to emerging markets and especially China to drive future growth after a recovery in the United States and a string of new Chinese hotel openings helped push 2011 profits up 26 percent.