U.K. Wealth Fund to Target Private Equity, Infrastructure Investment

London Mayor Boris Johnson’s fledgling British sovereign-wealth fund plans to combine local public pension funds and invest billions of pounds in private equity and infrastructure projects.

Chancellor's economic strategy is 'risky', says Item Club

Chancellor George Osborne's economic plans are 'risky', and could contribute to a slowdown in UK growth, the EY Item Club has warned.

Academics attack George Osborne budget surplus proposal

George Osborne’s plan to enshrine permanent budget surpluses in law is a political gimmick that ignores “basic economics”, a group of academic economists has warned.

Britain prepares to review bank tax to stop potential exodus - report

LONDON (Reuters) - Britain is prepared to review a tax on banks to head off the threat that large multinational banks like HSBC could leave London's financial centre and shift their operations overseas, the Sunday Times reported, citing industry sources.

Retail sales rise in October amid widespread discounting

Shoppers gave George Osborne a pre-Christmas boost as they took advantage of falling prices in October to boost high street sales, according to official figures.

George Osborne likely to miss deficit reduction target as UK borrowing rises

The chancellor is on course to miss his deficit-cutting target this year, according to the latest figures, giving him a headache in the run up to the 2015 election when the economy takes centre stage.

IMF predicts Britain's GDP growth rate will surge to 3.2% by year end

The International Monetary Fund has raised its forecast for Britain's economic growth rate for the second time this year.

UK first-time home-buyers reach highest level since 2007

(Reuters) - The number of first-time homebuyers in Britain hit its highest level since the start of the financial crisis in the first half of 2014, helped by the recovering economy and policies such as Help to Buy, a survey showed on Saturday.

Manufacturing boosts UK industry but exports weaker

There were fresh warnings on Tuesday night that the UK's economic recovery was too reliant on hard-pressed consumers after official data showed exports falling.

Bank of England holds UK interest rates at record low

The Bank of England has kept interest rates at a record low of 0.5%, despite signs that the UK economy is improving.

UK public finances improve in October as economy grows

The UK's public finances improved in October, as a recovering economy and housing market boosted tax revenues.

London’s Mayor Sees More Kuwait Investment in Developments

Kuwait is interested in investing in London real estate projects after focusing on completed properties for several years, Boris Johnson, the city’s mayor, said after meeting with members of the Kuwait Investment Authority.

Public borrowing figures show George Osborne on track to meet target

Chancellor George Osborne is on track to meet his budget goal for this year, economists said on Tuesday after the latest public finance figures suggested a quickening economic recovery was boosting government coffers.

Five U.K. Banks Must Raise Extra $21 Billion Capital

Five U.K. banks must find 13.4 billion pounds ($21 billion) to plug a 27.1 billion-pound capital shortfall by the end of the year, the Bank of England said.

Goldman Sachs Deal Averted Osborne Embarrassment, Group Says

Goldman Sachs Group Inc. (GS) was able to avoid paying as much as 20 million pounds ($31 million) in U.K. taxes as the government fought to shield Chancellor of the Exchequer George Osborne from political embarrassment, an advocacy group said at a London trial.

Osborne Sticks to Austerity as Investors Say Downgrade Came Late

U.K. Chancellor of the Exchequer George Osborne said he won’t give in to opposition calls to change his economic policy after Moody’s Investors Service’s decision to strip the U.K. of its Aaa status.

Osborne backs break-up of banks that fail to reform

The UK's big banks will be broken up if they fail to follow new rules to ring-fence risky investment operations from High Street outlets, Chancellor George Osborne has announced. He has said taxpayers are angry at banks' behaviour and will never again be expected to bail them out.

Britain Is Outside Euro Zone but Not Euro Crisis

LONDON — Having kept their own currency and central bank, British politicians pride themselves on their foresight in staying outside the beleaguered euro.

IMF chief Christine Lagarde will struggle to bag more funds for a 'firewall'

Global politics and economic theory don’t lend themselves easily to punchlines. But in January this year, Christine Lagarde managed to inject a little light relief into proceedings at the World Economic Forum.