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Exxon barred from Iraqi oil, gas auction
LONDON, Jan. 12 (UPI) -- Interest paid on saving accounts in Britain fell to the lowest rates since 1995, the Bank of England said Monday.
Interest paid on various savings accounts averaged 0.81 percent, The Daily Telegraph reported.
The declining rates in December come on the heels of the Bank of England's decision to cut key lending rates. Rates could fall further, as the BOE cut rates in December to 1 percent and last week to 0.5 percent.
Banks usually adjust their rates at the first day of the month, the British newspaper said.
International bank ICICI has already reduced its one-year fixed rate bond rate from 5.1 percent to 4.65 percent. The Anglo Irish Bank has also reduced its one-year fixed rate bond from 5 percent to 4.6 percent, the Telegraph reported.
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| Additional Business News Stories | |
BOGOTA, Feb. 14 (UPI) --
Colombia's energy industry is heading toward a price fall because of oversupply of electricity, which could bodes ill for the expanding power generation sector.
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SINGAPORE, Feb. 14 (UPI) --
Sikorsky plans to expand business operations in Asia and is opening an office in Malaysia to kick off the effort.
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Compared to whites, greater shares of both black and Hispanic young adults say owning their own home is among their top priorities. While 25 percent of blacks and 26 percent of Hispanics say owning a home is of the highest importance in their lives,...
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President Barack Obama has revealed a budget that, once again, will give the Republican party a chance to show that vitriol is more fun than compromise.
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