Britain’s former finance chief inherits a UK economy that was headed for recession even before the recent turmoil triggered by Liz Truss
Desperate motorists queued up at fuel pumps across Britain, draining tanks, fraying tempers and prompting calls for the government to use emergency powers to give priority access to healthcare and other essential workers
As well as grounding its planes, Thomas Cook has been forced to shut travel agencies, leaving the group’s 22,000 global employees out of a job
Britain has ramped up its economic growth outlook for next year, when the country will exit the European Union
Shares and the euro will likely face more turmoil in 2012, after a year in which markets and the currency slumped on fears over the debt crisis.
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/ 14 December 2011
Opec is due to hold a meeting to decide on oil production levels, with markets expecting it to keep it’s target of 24.84 million barrels per day.
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/ 2 November 2010
British energy giant BP announced a return to profit on Tuesday but revealed new shock estimates for the cost of its Gulf of Mexico oil spill.
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/ 1 February 2008
The Organisation of the Petroleum Exporting Countries (Opec) left unchanged its oil-production ceiling on Friday, snubbing United States demands for an increase as the cartel focuses on supporting prices that have fallen 10% since the start of the year. Explaining its decision, Opec said that stockpiles of crude were likely to increase in the first half of 2008.
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/ 24 January 2008
Global share prices rocketed on Thursday, though fears of an economic slowdown lingered as Société Générale revealed a massive €4,9-billion fraud-related loss it attributed to one of its traders. Europe’s leading share indices surged in morning deals, with gains of between 4% and more than 5% after a recovery on the Japanese market.
Gold struck a new all-time peak of almost $868 dollars on Thursday as the precious metal benefited from its safe-haven status amid record high oil, a struggling dollar and Pakistan tensions, analysts said. The price of gold reached a historic $867,90 an ounce on the London Bullion Market. It later slipped slightly to stand at $866,90.