Word: englandisms
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...natural performer, he looked a bit like Leo McKern, who played Mortimer's most famous barrister, the blustery, homespun Horace Rumpole of the Bailey. The TV series ran in England, off and on, from 1978 to 1992 and repeated its success...
...banks want money, most of it will have to be loaned into the financial system. The Bank of England will further buttress the credit system by buying corporate loans and commercial paper...
...nation's premier experts on the financial world, Peter Spencer, chief economic adviser to the Ernst & Young ITEM Club, said that the time to save the U.K. from severe GDP contraction may have come and gone. According to The Daily Telegraph, The Government and the Bank of England have got "days not weeks" to take action to revive the economy or face a prolonged depression...
...creation of a bumper insurance scheme that will permit banks to buy cover against losses on bad loans in the hopes that this will encourage banks to start lending to Britain's cash-strapped companies and consumers. Also announced: a $74 billion scheme allowing the Bank of England - Britain's lender of last resort - to buy high-quality assets directly from financial institutions as well as other companies. An existing $370 billion plan granting a government guarantee on bonds issued by banks, earmarked to close in April, was extended to the end of 2009. And Northern Rock, the mortgage bank...
...Clearing access to credit for banks, firms and consumers is crucial. Interest rates may be at their lowest since the Bank of England was created more than 300 years ago, and the banking industry may have already received $55 billion in government money, but nervous British lenders are simply not lending enough. The result: British GDP will tumble 2.7% this year, Ernst & Young forecast on Monday, the biggest drop since 1946. "Without additional government intervention," it added, "a deep recession could evolve into a depression...