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British pound falls to its lowest for five years

11.04.2015 16:42

British pound falls to its lowest for five years

YEREVAN, April 11. / ARKA /. The British pound has fallen to its lowest level against the dollar for nearly five years on weak UK industrial output figures and uncertainty over the outcome of the election, Vestofinance.ru reports citing news agencies.

Sterling fell as low as $1.4618 before recovering slightly in late trading. Earlier, the Office for National Statistics (ONS) said UK industrial output figures rose by just 0.1% in February from January.

The small increase was below analysts' forecasts for a 0.3% gain. Oil and gas production fell sharply, while the construction sector contracted by 0.9% in February, compared with forecasts for a rise of 2%.

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British offshore areas capitulate against EU tax authorities

07.05.2013 14:31

British offshore areas capitulate against EU tax authorities

The British offshore territories agreed to reveal part of data about the account holders at their banks, The Treasury of the United Kingdom reported, BBC said

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