UK Chancellor George Osborne's austerity plan has received the backing of the US Treasury Secretary.
Timothy Geithner told the BBC that he was "very impressed, as just one man looking from a distance, at the basic strategy that he's adopted".
He said Mr Osborne had been handed "problems not created by this government".
But he said the chancellor had "locked his government and the coalition into a set or reforms that are very good". MORE...
John Lewis chief warns against rise in interest rates
John Lewis's managing director has urged the Bank of England not to raise interest rates amid retail fears over how a rate increase would affect consumer confidence.
Andy Street - speaking out about inflationary pressures on the industry as he unveiled plans to open a new store in Birmingham in 2014 - told the Independent: "Putting up interest rates would not make a jot of difference to inflation. But it would make a big difference to consumer confidence."
Street's view reflects the debate going on among economists about how much impact, if any, a rise in interest rates would have on dampening domestic inflation or whether Britain has imported higher prices. MORE...
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