ECONOMY

Is Britain on The Brink of Another Financial Crisis?

Trio jailed for sophisticated hacking of U.K banking system

It seems that numerous MP's have still not learnt their lesson about understanding what an acceptable expense is, as yesterday it was revealed that 237 MPs-more than a third of the Commons-put first class rail journeys on expenses.

£154 million is the total up for grabs tonight, the biggest-ever lottery jackpot. And only one saying springs to mind when learning this 'you have to be in it, to win it'.

Sky News today reported that the former Conservative Party leader Duncan Smith, will make a speech in which he will attack the government spending cuts, saying that unless immigration is brought under control, any implementations will be doomed.

The Greek economic crisis may affect the Eurozone first, with France and Germany set to lose a vast amount of money if Greece defaults, but there will be considerable damage done to the United Kingdom as well.

Eurozone finance ministers on Monday have failed to agree a critical €12bn worth of aid payments to Greece, instead vowing to wait until the country has proven itself capable of passing the austerity measures that have cause widespread protests and violence on the streets of Athens

There is a growing fear in Paris that France is on the verge of a credit downgrade because of its exposure to Greek debt

Over 750,000 civil servants are set for strike action in support of the teacher's strike which will cause disruption to a million school children. The strike planned by teachers which now has the full support of civil servants is planned for Thursday June 30, with the dispute over public sector pensions.

Following a ceasefire agreement, the last American ground troops left Vietnam in 1973 and in 1975, Saigon (officially now named Ho Chi Minh City) fell to the North Vietnamese Army.

Greece has been pushed ever closer to the harsh reality of default after Wednesday's general strike all but shut the country down. The strikes have closed schools, central and local government offices around the country, while hospitals were operating on skeleton staff. Port and public transport services were disrupted, while a walkout by journalists forced most morning news programming off the air.

George Osbourne is proposing the biggest bank shake up since the 1930's with controversial plans to ring fence retail arms of banks. He is set to face 'formidable opposition' from the banks in what could be one of the most challenging reforms of the banking sector. The Chancellor wants banks to ring fence their retail banking arms to protect the public if their trading and investment arms were to hit serious trouble.

The Consumer Prices Index rate of inflation held firm at 4.5 per cent last month, despite hopes for a slight dip.

Greece has become the lowest rated country in the world, falling behind nations such as Jamaica and Grenada after Standard and Poor's cut the country's rating by three notches. Greece now has a credit rating of CCC, down from its rating of B and it is expected to be reduced further. There is now growing frustration in Europe over the efforts being made by the Greek government with a default the most likely outcome.

Ed Miliband's has tried to use his speech this afternoon to detract away from the controversies of the last week. It has no doubt been the toughest of week in his short political career with questions over his relationship with David Miliband and his own performance as leader, Ed Miliband was keen to talk about policy and show the Labour Party was standing up for people. The speech was designed to give us an insight into what the future of the Labour Party will look like under his leadership ...

The Government and academic institutions have been accused of keeping parents and students in the dark over the 2012 tuition fee increases. From 2012, universities will have the power to charge a maximum of £9,000 for academic courses - a treble in fee increases. When the legislation was passed by parliament last year, students were told they would receive clear information over the rises but the coalition government has been found wanting. One in three teenagers admits knowing little or nothing...

he Sarah Palin documents that were released to major news corporations on Friday tell story of an Alaskan governor who craved attention from the national and international media. The attention seeking former Alaskan governor quit half way through her four year term because of a drive to sell books and appear on American chat shows rather than serve the people of Alaska who voted for her.

With youth unemployment remaining at near record levels many university students graduating in the coming months will face a slew of challenges unique to their generation.

The Chairman of the English Football League has claimed that players would accept being paid less in order to receive greater job security. Speaking after a two day meeting in Cyprus, The English Football League Chairman Greg Clarke has revealed that clubs have agreed to find new ways to curb spiralling deb in the Football League. The meeting was set after it was revealed that the debt across the 72 clubs of the Football League was growing at a compound rate of over 15-20 per cent.

British households will be hit with a rise in gas prices as Scottish Power became the first of the six major suppliers to disclose a new round of price increases.

It will soon be that time of the month again. Yes next week the Bank of England's Monetary Policy Committee will meet to determine interest rates, or to be more precise determine to hold interest rates.

A generation of Britons believe they will never own their own property, a new survey has shown

British economic growth is likely to be less impressive than previously thought, according to the British Chambers of Commerce, who today published their revised growth projections for this year and the next.

As expected the second estimate of the United Kingdom's first quarter GDP growth remained unchanged by the Office for National Statistics.

The second estimate of first quarter GDP for the United Kingdom is due to be released tomorrow, although little or no change is expected in the 0.5 per cent growth given at the first estimate.

Following the resignation of its Managing Director Dominique Strauss-Kahnafter his arrest for sexual assault last week in New York, the International Monetary Fund is now without a leader.In the next one to two month the international financial organisation has to appoint Strauss-Kahn replacement. The race is on to find a replacement and while Europe has claimed the need for a European to be appointed, due to the difficult financial crisis affecting many of its member states, China, Russi...

Despite concerns that the government is cutting "too far, too fast" figures released today revealed that government borrowing in April was on the up, as was overall public spending.

Last year's Iceland ash cloud caused many Britons to check their travel insurance policies for an eventuality that few had previously considered. So, few could have imagined that the industry would have to deal with a similar episode so soon after the first with forecasters warning that the plume from the Grimsvotn volcano could be blown to northern Scotland tomorrow, and the rest of Britain by Thursday.

The giant ash cloud from an Icelandic volcano threatening to shut European airspace hit airline shares this morning.