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UK Mutual Firms Need to Prepare For Worsening Credit Conditions, Says BOE Official 1156 GMT - U.K. mutual firms need to take steps to be ready to support their clients and broader economic resilience in case credit conditions deteriorate, Bank of E... | 08:26am
FTSE 100 Falls as BAE Systems Drops; Shell, Next Rise 0808 GMT - The FTSE 100 drops 0.2%, or 18 points to 7770 as losses for a range of stocks after the U.S. Federal Reserve raised interest rates offset gains for companies reporting results. BAE Sy... | 04:25am
Sterling Rises to 11-Month High Versus Weak Dollar 0837 GMT - Sterling rises to an 11-month high of $1.2594 against a weaker dollar after the Federal Reserve raised interest rates but hinted that rates might have peaked, while U.S. banking sector c... | 05:01am
Shell Buyback Rate May Face Pressure as Economy Softens 0850 GMT - Shell shares rise 2% after reporting better-than-expected first-quarter earnings. Earnings in the period modestly exceeded market expectations driven, like most other oil companies ... | 07:17am
Spending up a little bit. gdp in the first half of the year was a little positive. but a recession is not a statistic. it is a process. when sales fall, which they have been easing quite dramatically, then production falls. when production falls, employment is weak which you have seen. incomes weak and then sales fall. we get in to a cycle. that cycle is what we see in our forward-looking indicators. that is starting so that when going forward, you're going to see production fall, you are going to see sales fall, incomes fall, jobs fall. that's a recession. >> increase in unemployment. >> abso...