LONDON--Inflation in the U.S. needs to climb back toward the 2% target before the Federal Reserve should consider slowing the pace of its asset purchases, a senior Federal Reserve official said Thursday.

Thursday 12.30 BST. Global stocks are in sharp retreat, led by a savage plunge in Tokyo, as traders are spooked by the prospect of reduced central bank support and a slowing Chinese economy.

The updated figures from the Office for National Statistics showed that the UK's dominant services sector, which accounts for three quarters of national output, drove the recovery - growing 0.6pc over the three months.

LONDON | Thu May 23, 2013 12:22pm BST. LONDON (Reuters) - Britain's Financial Conduct Authority (FCA) said it has fined a wealth management unit of U.S.

Airline Flybe will end its direct Isle of Man to Gatwick flights from April 2014, it has confirmed. The company sold its slots at the London airport to Easyjet for �20m, blaming an increase in airport charges.

Thu May 23, 2013 7:07am EDT. * Pretax profit falls 22 pct to 72 mln stg. * Unveils 100 mln-stg plan to invest in retail business. * Cuts dividend, profits to be hit until 2016.

China's manufacturing is contracting in May for the first time in seven months, adding to signs that economic growth is losing steam for a second quarter.

Mothercare's UK business is still mired in the red despite attempts to improve its finances with a swingeing store closure plan.

The veteran investor's private equity fund Quantum Strategic Partners has backed the infrastructure effort. Hyperoptic is extending its fibre optic cables all the way into homes, allowing it to provide internet access at one gigabit per second, more than 10 times ...

Most children's financial habits are formed by the age of seven, it was claimed today by the government-backed Money Advice Service (MAS), as it urged parents not to "underestimate the effect their own good (and bad) money habits will have on their ...