Economic News

(Updating to add 2007 growth forecast, recasting lead) LONDON (AFX) - Chancellor of the Exchequer Gordon Brown has maintained his relatively rosy predictions for UK economic growth, at the same time as announcing a raft of measures to combat climate change and a surprise announcement to cut the basic rate of income tax. In his eleventh and probably final budget, Brown said he continues to expect ...

NEW YORK (AP) - Stocks opened moderately higher Wednesday as investors treaded water ahead of the Federal Reserve's latest take on the economy, which could signal where interest rates are headed. While Wall Street largely expects the Fed will leave short-term interest rates unchanged at 5.25 percent, investors are eager to learn whether the central bank will reveal a shift in its assessment of th ...

NEW YORK (AP) - Stocks were little changed in tepid trading Wednesday as investors awaited the Federal Reserve's latest take on the economy, which could signal where interest rates are headed. The Dow Jones industrials slipped after two sessions of gains, while other indexes nudged higher. While Wall Street largely expects the Fed will leave short-term interest rates unchanged at 5.25 percent, in ...

(Updating to add further details) LONDON (AFX) - Chancellor of the Exchequer Gordon Brown has maintained his relatively rosy predictions for UK economic growth over the coming two years. In his eleventh and probably final budget, Brown said he continues to expect GDP will grow between 2.50-3.00 pct in 2008 and 2009. He made no reference to his PBR forecast of 2.75 pct to 3.25 growth. Brown, who ...

(Adds second part of Brown's speech) LONDON (AFX) - In this my eleventh Budget, my report to the country is of rising employment and rising investment; continuing low inflation, and low interest and mortgage rates; and this is a Budget to expand prosperity and fairness for Britain's families - and it is built on the foundation of the longest period of economic stability and sustained growth in ou ...

(Updating to add further measures) LONDON (AFX) - Chancellor of the Exchequer Gordon Brown has maintained his relatively rosy predictions for UK economic growth over the coming two years at the same time as announcing a raft of measures to combat climate change and a cut in the basic rate of income tax. In his eleventh and probably final budget, Brown said he continues to expect GDP will grow be ...

BRUSSELS (AFX) - European Central Bank president Jean-Claude Trichet said wage rises must remain moderate in the euro zone, to keep inflation under control and also to reduce unemployment. If rises in wages and unit labour costs cease to be moderate, this "would create a problem for price stability," he told the European Parliament's economic and monetary affairs committee. Trichet sai ...

LONDON (AFX) - Chancellor of the Exchequer Gordon Brown has maintained his relatively rosy predictions for UK economic growth over the coming two years. In his eleventh and probably final budget, Brown said he continues to expect GDP to grow between 2.50-3.00 pct in 2008 and 2009. Brown, who is thought to be a shoo-in to become Prime Minister when Tony Blair quits some time before the Labour Par ...

(adds Ryanair comment in par nine) LONDON (AFX) - The UK government is "open to changing the definition" of Air Passenger Duty (APD), according to the Treasury's full report on the 2007 Budget speech, which was made earlier today by the Chancellor Gordon Brown. "The aviation industry has suggested to government that the way in which Air Passenger Duty defines different classes of  ...

LONDON (AFX) - Following is an at-a-glance guide to UK Chancellor Gordon Brown's budget speech. ECONOMY UK 2007 GDP growth forecast left unchanged at 2.75-3.25 pct UK 2008 GDP forecast left unchanged at 2.50-3.0 pct UK 2009 GDP forecast left unchanged at 2.50-3.0 pct Inflation to drop to 2.0 pct target by end of 2007, remain there in 2008, 2009 Business investment see rising 7.0 pct in 2007 Cons ...