Bank of England

Mervyn King was outvoted by fellow policymakers in his attempts to pump even more money into the economy this month.

The UK faces a slow recovery from recession as the financial crisis continues to impact on public and private spending, according to the Bank of England.

Investors are braced for their dividend income to fall by 13% this year as Britain's quoted companies horde cash to ride out the recession, reports the Guardian.

Millions of investors in with-profits endowments, pensions and bonds who thought the market's rebound might enhance their returns had their hopes dashed last week, according to The Times.

The Bank of England has held interest rates for a fifth consecutive month today, while expanding its quantitative easing measures.

Mortgage approvals for house purchase and remortgaging in June have risen above the previous six-month average.

The Bank of England's Monetary Policy Committee (MPC) noted improving market conditions before unanimously voting to hold interest rates at 0.5%, the minutes of the July meeting have revealed.

The government was forced to borrow £13bn in June, almost double the amount in the same month last year, as shrinking tax receipts continued to put pressure on public sector finances.

Shareholders in Friends Provident are expected to urge the group to return to takeover talks with Resolution after the insurer roundly rejected its latest proposal, reports The Times.

The Conservatives have said they will abolish the FSA and give the Bank of England greater responsibilities as part of radical plans to strengthen financial regulation in the UK.