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UK interest rates held at 0.5% for third year

UK interest rates have been held at 0.5% by the Bank of England, marking three years since rates were first cut to the record low. Many analysts expect rates to remain at that level for at least another year. The monetary policy committee (MPC) also decided to make no change to its quantitative easing (QE) programme. QE is the bank's scheme to boost the economy by buying bonds. Last month the bank boosted spending on it by £50bn, taking the total stimulus to £325bn. The BoE started its QE programme, which buys mainly government-issued bonds in an attempt to free-up cash for lending, in 2009. Ian McCafferty, chief economic adviser at the CBI business group, said: "Since the MPC has been signalling that the current policy stance is broadly appropriate, it appears that the economic climate would have to deteriorate to prompt a further extension of QE. "Nevertheless, with economic conditions fragile and the level of uncertainty high, monetary policy dec...

London transport: Bus, Underground and Overground prices rise

Passengers using London's transport network today are facing up to an increase in fares. The average price has risen by 5.6% with Tube, bus, London Overground, Docklands Light Railway, boats and Tram services affected. The cost of a single ticket on London Underground from zone one to two will rise 8% - from £2.50 to £2.70. Transport for London (TfL) said the rise was to ensure transport upgrades and frontline services were protected. Mayor of London, Boris Johnson, said the increase would have been greater without £136m of extra government money. TfL said the investment programme which the increased fares fund, includes upgrades to the Tube and the delivery of Crossrail - the east-west rail line. Sent from my BlackBerry® smartphone

We'll pay your mortgage

When they saw the house on El Dorado Drive in this Los Angeles suburb being painted a startling orange and green and giant billboards hung on the outside, Scott and Beth Hostetler's neighbours were initially angry and confused. Some even considered calling the police. But what they witnessed on Friday was not an offensive redecoration decision by the Hostetlers, but rather the debut of one of the more unusual schemes to arise from the housing crisis. In return for allowing the front of their four-bedroom house to become a garish advertisement, the Hostetlers are getting their nearly $2,000 (£1,268) monthly mortgage paid by the marketing company behind the project, Brainiacs From Mars. In a residential neighbourhood without heavy traffic, cars passing by the house slowed and drivers gawked at the vivid colors and a giant Brainiacs From Mars billboard.Romeo Mendoza, the company's founder and CEO, told Reuters that his ultimate goal is to turn 1,000 homes across the United States ...

British tourist killed in bee attack

A British man was stung to death by a swarm of bees while he was on holiday with his wife in Africa, it has emerged.Mick Bryan, 61, and Jacqueline, 43, were exploring Tanzania when the killer bees launched an attack on the Cambridgeshire couple at a remote campsite. The father-of-three attempted to drive off after the attack but collapsed and later died in hospital. His wife was also stung but survived.Speaking to The Sun, a family member said: “They were out in the middle of nowhere getting ready to have some lunch when they heard a buzzing noise. Mick shouted to Jacqueline to run. “He was covered in bees. He tried to drive off but it all happened too quickly. Jacqueline couldn't get any phone reception so she had to run to the main road for help.” His sister Louise Adam, 64, is also quoted as saying: “He was a wonderful man. He'd do anything for anyone.”A Foreign Office spokesman said: “We are aware of the death of a British National in Tanzania and are in contact with the fa...