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Welcome to the Business and Economics Portal.
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Today's featured article
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| The Bank of England is the central bank of the United Kingdom, and as such it convenes the Monetary Policy Committee, which is responsible for the monetary policy of the country. It was established in 1694 to act as the English Government's banker, a role which it still fulfils today. The Bank's building is located in the City of London, on Threadneedle Street, and hence it is sometimes known as The Old Lady of Threadneedle Street or The Old Lady. The current Governor of the Bank of England is Mervyn King, who took over on June 30 2003 from Sir Edward George.
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Famous and featured
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| Sir Richard Branson (born 18 July 1950, Shamley Green, Surrey), sometimes abbreviated as SRB for "Sir Richard Branson", is an English entrepreneur, best known for his Virgin brand, a banner that encompasses a variety of businesses. Branson's worth is estimated at over £3 billion according to The Sunday Times Rich List 2006. On 12 October 2006, he said he plans to invest £3 billion of Virgin's profits over 10 years to fight global warming.
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Business and Economics in the news
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UK housebuilder Persimmon reports a sharp drop in half-year profits as it struggles to deal with the housing market downturn.
E.On and Scottish and Southern Energy are to raise gas and electricity prices by up to 29%, blaming higher wholesale costs.
Retail sales defy grim forecasts to rise 0.8% in July, according to the Office for National Statistics.
Two of Britain's energy providers have dramatically raised gas and electricity
prices today, adding to the misery facing hard-pressed UK consumers and
putting more people into fuel poverty.
A surprise jump in high street sales last month today fuelled uncertainty over
the true state of consumer spending as Britain’s economic woes deepen.
Persimmon, the UK's biggest housebuilder, bravely predicted today that the
housing market would not get any worse.
Market report: London shares resumed their downward trek today, knocked by volatile oil prices, a tumbling dollar, jitters around banks and more anxieties on Wall Street. By Katie Allen.
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