Economy, Britain | featured news

Britain's government may reconsider long-touted proposals for the U.K. to switch to Central European Time, a move which advocates insisted Saturday would bring lighter evenings and possibly offer the country's sluggish economy a boost.

British and Japanese officials warned Sunday of disastrous consequences for the global economy if last-minute talks among lawmakers in Washington failed to agree on raising the U.S. borrowing limit and averting a debt default.

Icelandic voters appeared Sunday to have rejected a government-approved deal to repay Britain and the Netherlands $5 billion for their citizens' deposits in the failed online bank Icesave.

Britain outlined the sharpest cuts to public spending since World War II on Wednesday.

Icelandic authorities should have made sure UK Icesave depositors were insured by the UK, a report says.

Icelanders are sure to vote against repaying $5 billion in "Icesave" debts if a referendum goes ahead on Saturday, but conditions are good for reaching a revised deal with Britain and the Netherlands, Iceland's Foreign Minister was quoted on Wednesday as saying.