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Added on the 12/07/2012 12:17:43 - Copyright : Ubisoft
Police have cordoned off the area where a suspected knife attack in northern England left at least eight people injured, including children, emergency services have said. IMAGES
Britain's Labour finance minister Rachel Reeves says that the country's public finances face an additional hole of £22 billion ($28 billion) inherited from the previous Conservative government. "We have inherited a projected overspend of £22 billion of spending this year that was covered up by the party opposite," says Reeves, appointed after the centre-left Labour party's landslide election victory on July 4. SOUNDBITE
UK Finance Minister Jeremy Hunt poses outside 11 Downing Street with the red, leather-covered box containing his speech before leaving to present the spring budget to parliament. Britain's Conservative government is expected to use the budget update to unveil tax cuts for millions of workers, in an attempt to woo voters before a general election. Prime Minister Rishi Sunak's party, which has been in power since 2010, is well behind the main opposition Labour party in opinion polls and looks likely to be dumped out of office. IMAGES
The EU has hit Apple with a 1.8-billion-euro fine ($1.9 billion) for violating the bloc's laws by preventing music streaming services from informing users about subscription options outside of its App Store. "Apple did so by restricting app developers' ability to inform users of Apple devices about alternative cheaper options to purchase music available on the internet outside of the Apple ecosystem," commission vice-president Margrethe Vestager says in a statement. SOUNDBITE
The EU sharply cut its eurozone growth forecast for 2024, Commissioner for the Economy Paolo Gentiloni says. Gentiloni says the European Commission predicts the single-currency economic area to grow by 0.8 percent in 2024, down from a previous forecast of 1.2 percent. SOUNDBITE
As new figures show the UK is in recession, with two successive quarters of falling GDP in Q3 and Q4 2023, the UK's Chancellor of the Exchequer Jeremy Hunt says that the economy is "more resilient than most people predicted" and insists that the government will "stick to our guns" on its plans to bring down inflation. News of the recession comes as voters go to the polls in two by-elections on Thursday, with the Conservatives fearful of losing one-time strongholds in Wellingborough, central England, and Kingswood in the southwest. SOUNDBITE
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