‘New York is not dead, but it is on life support’

The situation has

driven the city’s jobless rate to more than 12% – almost double the national average – swollen the ranks of the homeless, and helped spur the departure of more than 300,000 people like Andrea, further straining public finances.

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UK economic outlook has deteriorated, Bank of England warns

While the Bank said the UK's banking sector was well-placed to cope with a severe downturn, it said banks must increase the amount of money they set aside to absorb shocks. Starting a year from now, banks will be required to set aside a sum equal to 2% of their assets...

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Sainsbury’s customers switching to own-brand products

Announcing Sainsbury's latest trading update, Mr Roberts said: "We really understand how hard it is for millions of households right now and that's why we are investing £500m and doing everything we can to keep our prices low, especially on the products customers buy...

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