Bank of England

Barclays to Cut 3,700 Jobs As Part of 'Project Transform'

Barclays new chief executive pledged a fresh course for the British lender on Tuesday, axing at least 3,700 jobs and pruning its investment bank as he seeks to rebuild its reputation and boost profitability after a series of scandals.

The Financial Landscape: Are the Unemployed Against Their Benefits?

The New York Times has found some unemployed people to argue against an extension of jobless benefits: "In a recent survey of the unemployed by Rutgers University, more than one in four respondents was opposed to renewing the current extended unemployment benefits.

Bank of England Keeps Rates Unchanged

The Bank of England said Thursday that it decided to keep its emergency stimulus program unchanged and the central bank's key lending rate at its record low of 0.5%.

Bank of England Leaves Interest Rates, Asset Buying Unchanged

The Bank of England left interest rates at 0.5% for the 20th month in a row and maintained its asset-buying program unchanged, Reuters reported. The interest rate decision was widely expected by economists. Still, mixed economic data and a divided policy-making board mean that the future is uncertain for the asset-buying program.

Bank of England Lowers Forecast for UK Economic Growth

Bank of England Governor Mervyn King said that the U.K. economy will grow slower than previously forecast. King said that growth may peak at 3% annual pace, rather than the 3.6% rate forecast in May, according to Bloomberg News. Inflation will also be lower than expected, hitting 1.5% in two years, rather than the expected 2%.