UK economy expands more than predicted

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Source: Bloomberg
UK economy in third quarter expanded more than was previously predicted by economists. GDP advanced 0.6% compared to earlier forecast 0.5%. Nevertheless Bank of England warns that further rapid growth is unlikely given developments across Europe as debt burden harms demand. BOE predicts UK economy may stop expanding in current quarter and in the beginning of 2012.

 

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Thu, 22 Dec 2011 13:43:17 GMT

UK stocks rebound ahead of US employment data

UK shares accelerated on Thursday, recovering from a massive drop earlier this week as investors are looking forward data on US consumer confidence and nation's employment. Rally in shares was led by Royal Bank of Scotland jumping 2.3% and International Consolidated Airlines Group gaining 1.2% after it agreed to buy BMI, Lufthansa AG's unit. UK benchmark index FTSE 100 added 1.2% or 63.7 points in

Thu, 22 Dec 2011 10:55:36 GMT

British Airways prepare to buy Lufthansa's BMI

British Airways parent company IAG agreed to acquire Lufthansa's BMI unit for ВЈ172.5 million ($270.5 million) beating Virgin Atlantic Airways counterbid. IAG needs BMI division in UK to provide mainline operations at Heathrow, the European most active airport. Lufthansa has been thinking of sale after BMI wrecked $291 million in operating losses after takeover in 2009.

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