British economy is ‘coming back’ from recession: Osborne

The latest official figures showed that the British economy is finally 'coming back' from the recession/economic slump, Chancellor George Osborne said.


Long-term unemployed may be forced to work for free

Those who have been without a job for at least two years will have to enroll on "Help to Work" scheme or face reduced jobless benefits.

Work & Pensions Secretary Iain Duncan Smith has declared that every capable person should be given support as well as opportunity to do work.


EU regulators all set to introduce tougher stress tests for banks

European regulators are all set to introduce a tougher set of tests for the region's banks, as part of the efforts to prevent the recurrence of 2008-type economic crisis.

On Tuesday this week, the European Banking Authority (EBA) will introduce various crisis scenarios that the region's banks will have to prove they can endure without the help of taxpayer bailouts.


British factory orders grow at strongest pace in two decades

British factory orders grew at their fastest pace in around two decades in the three months to April this year, according to a fresh survey report by the Confederation of British Industry (CBI).

The industry body's Industrial Trends survey found that growth in total factory orders in the three-month period under review was the strongest since the year of 1995.


QinetiQ to sell its American arm for $215 million

Britain's defence group QinetiQ has confirmed that it has agreed to sell its American services division to the SI Organization Inc. for $215 million.



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