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Record-low interest rate enters fourth year
Mar 8th, 2012
The Bank of England on Thursday voted to hold its key interest rate at 0.50 percent with Britain at risk of fresh recession and three years after it slashed borrowing costs to the current record-low. (Source: AFP) -
By Huw Jones LONDON (Reuters) - The Financial Conduct Authority (FCA) has asked mortgage lenders to check if customers can pay back the loans, stepping in early to head off possible defaults in a sector the government sees as key to reviving growth. The FCA said the capital on 2.6 million interest-only home loans will be due for repayment over the ... [Full Article]
By Patrick Temple-West WASHINGTON (Reuters) - Apple Inc came under fire on Tuesday at a Senate hearing over an investigation that alleged the U.S. high technology icon has kept billions of dollars in profits in Irish subsidiaries and paid little or no taxes to any government. "Apple effectively shifts billions of dollars in profits offshore, p... [Full Article]
By Dorene Internicola NEW YORK (Reuters) - Baby boomers, the generation that vowed to stay forever young, are getting older, designing senior-friendly gyms and becoming their own personal trainers. In exercise havens for the over-50 set, the cardio machines are typically low impact, the resistance training is mainly air-powered and some group fitne... [Full Article]
By Leah Schnurr NEW YORK (Reuters) - U.S. stocks continued their climb into uncharted territory on Friday, racking up the fourth week of gains in a row as encouraging economic data prompted investors to pick up shares of growth companies. The Dow and the S&P 500 finished at fresh record highs, driven by gains in energy and industrial shares. Th... [Full Article]
LONDON (Reuters) - British retailer Marks & Spencer posted its lowest annual profit since 2009 on Tuesday as a struggling general merchandise division dragged on growth in food sales. The 129-year-old firm, which serves 21 million shoppers a week from over 700 UK stores, said it made a profit before tax and one-off items of 665.2 million pounds... [Full Article]
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