mervyn king

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...

Britain, the last of the G7 nations still in recession, finally emerged from it during the last quarter of 2009, but barely. GDP grew by just 0.1%. Economists had expected slightly higher growth at 0.4%.

Bank of England Governor Mervyn King won the fight in Britain to break up the banks that were "too big to fail." Now the big question is: Will Paul Volcker (pictured) get the Obama administration to follow suit? King got a lot of help from European regulators, who called for more and smaller banks...