BRITISH PM GORDON BROWN"S NEW CABINET ARRIVES FOR FIRST MEETING

Chancellor of the Exchequer Alistair Darling arrives at No.10 Downing Street his first Cabinet meeting with the new British Prime Minister Gordon Brown on June 29, 2007. (UPI Photo/Hugo Philpott)

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Britain set for drastic economy moves

LONDON, Nov. 22 (UPI) -- British Prime Minister Gordon Brown is about to implement drastic moves aimed at stemming the soaring number of home foreclosures, sources say.

Lloyds TSB shareholders approve merger

GLASGOW, Scotland, Nov. 19 (UPI) -- Lloyds TSB shareholders gave their approval Wednesday for the purchase of HBOS with 96 percent voting yes at a shareholder meeting in Glasgow, Scotland.

Britain prodded reluctant banks on rates

LONDON, Nov. 9 (UPI) -- British bankers had to be strong-armed by Chancellor Alistair Darling into passing along a Bank of England interest rate cut to consumers, sources say.

Britain guarantees Icesave accounts

LONDON, Nov. 6 (UPI) -- The British Treasury will cover $1.57 billion in losses suffered by British citizens with accounts at a failed Icelandic bank, Alistair Darling said Thursday.

Darling says BOE could cut lending rate

LONDON, Oct. 30 (UPI) -- Britain's Chancellor of the Exchequer Alistair Darling suggested a Bank of England lending rate cut was possible but didn't declare it a done deal.

Brown bending his own fiscal rules

LONDON, Oct. 29 (UPI) -- The recession means Britain needs to break the rules of fiscal prudence he set as chancellor of the exchequer, Prime Minister Gordon Brown said Wednesday.

Britain partially nationalizes three banks

LONDON, Oct. 13 (UPI) -- The British government said Monday it was ready to inject $64 billion into three banks in a move offered as a model rescue plan to other nations.

Walker's World: Europe fails to act

WASHINGTON, Oct. 6 (UPI) -- Leaders of the four big European economies -- Germany, Britain, France and Italy -- met in Paris Saturday and failed to come up with any kind of common European solution to the financial crisis that is battering their banks.

Darling vows financial crackdown

MANCHESTER, England, Sept. 22 (UPI) -- Britain's chancellor of the exchequer Monday said a worsening economy mandates the need for tougher financial and banking regulations.

Inflation jumps in Britain

LONDON, Sept. 16 (UPI) -- Inflation in August jumped more than expectations in Britain, reaching 4.7 percent, the Office for National Statistics said.