Portal:Business and Economics

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Welcome to the Business and Economics Portal.

The home of business and economics on wikitextbook

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The Bank of England is the central bank of the United Kingdom, and as such it convenes the Monetary Policy Committee, which is responsible for the monetary policy of the country. It was established in 1694 to act as the English Government's banker, a role which it still fulfils today. The Bank's building is located in the City of London, on Threadneedle Street, and hence it is sometimes known as The Old Lady of Threadneedle Street or The Old Lady. The current Governor of the Bank of England is Mervyn King, who took over on June 30 2003 from Sir Edward George.

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Sir Richard Branson (born 18 July 1950, Shamley Green, Surrey), sometimes abbreviated as SRB for "Sir Richard Branson", is an English entrepreneur, best known for his Virgin brand, a banner that encompasses a variety of businesses. Branson's worth is estimated at over �3 billion according to The Sunday Times Rich List 2006. On 12 October 2006, he said he plans to invest �3 billion of Virgin's profits over 10 years to fight global warming.

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Business and Economics in the news

BA strike action talks to resume

2010-03-10 00:04:31 UTC [BBC News | Business | UK Edition]

Talks aimed averting strike action by BA cabin crew are due to resume later, after a deadline was extended.

Investigators to look into Toyota incident

2010-03-10 00:01:04 UTC [Latest Business News from Times Online]

Federal safety investigators in the US are sending a technical specialist to investigate a Toyota Prius car that reportedly accelerated out of control on a California freeway on Monday.

Deutsche Bahn may run London to Frankfurt service

2010-03-10 00:01:00 UTC [Latest Business News from Times Online]

Deutsche Bahn could start high-speed train services from London to Frankfurt by December 2012, Eurotunnel has announced.

Banking fraud 'moves to internet'

2010-03-10 00:00:44 UTC [BBC News | Business | UK Edition]

Fraudsters are continuing their switch from traditional card fraud to raiding online bank accounts, new research shows.

Trade gap widens unexpectedly

2010-03-09 20:38:26 UTC [BBC News | Business | UK Edition]

The UK goods trade deficit with the rest of the world widens in January, causing the pound to dip below $1.50.

US gloom weighs on FTSE

2007-11-07 00:00:00 UTC [Guardian Unlimited Business - top stories]

Market report: London shares resumed their downward trek today, knocked by volatile oil prices, a tumbling dollar, jitters around banks and more anxieties on Wall Street. By Katie Allen.

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16.1.07 UK inflation hits 3.0%. The latest CPI figures show that inflation has increased to 3.0%. This is the highest level inflation can rise to without the Governor of the Bank of England, Mervyn King, having to write an open letter to the Chancellor of the Exchequer, Gordon Brown.

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11.1.07 Shock as UK rates rise to 5.25%. The Bank of England has raised interest rates to 5.25% from 5% in the hope of reducing inflation. Many economists had been expecting an increase in the near future, although they expected the bank to wait until next month to raise the rate. The Consumer Price Index has recently risen to 2.7%, the highest level in more than ten years. This increase in interest rates will add �16 to the monthly payments of those with a �100,000 repayment mortgage.

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