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The Bank of England's Monetary Policy Committee has slashed the base rate by 0.25%, bringing it down to 5.00%.

The cut has been predicted by many across the financial industry.

 
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FT.com - UK Homepage

FT.com - UK Homepage
  • B&B shares slide after TPG walks away from rescue
    Bradford & Bingley shares fell below their rights issue price at the open after its largest investors were forced to step in to rescue the ailing mortgage lender. Private equity group TPG Capital pulled out of a £400m capital increase after Moody's downgraded B&B

  • Sales fall accelerates at John Lewis
    The department store chain reported an 8.3% fall in weekly sales for the period to June 28, further evidence of the gloom that is enveloping Britain's high streets

  • Origin tells shareholders to reject BG
    Origin has advised shareholders not to accept BG's bid, saying the firm had seen continued strong interest in the coal seam gas sector

  • UBS confirms facing further write-downs
    The Swiss bank, Europe's biggest casualty of the US subprime crisis, confirmed it faced further heavy write-downs on exposures to troubled US credits, meaning second-quarter would be 'at or slightly below' break-even

  • UK aid doubles for border region of Pakistan
    Britain is increasing financial assistance to £480m by 2011 to channel more cash into areas on the Afghan border that are plagued by Islamist militancy


 

 

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