Christopher Werth

The Bank of England is set to raise its rates, which means U.K. homeowners face the daunting prospect of increased mortgage payments.

Hollywood's biggest night was also a big night across the pond. British film "The King's Speech" took home three Academy Awards, including best picture. The film was paid for in part by the government's film funding organization, the U.K. Film Council. But because of budget cuts, that agency is on the chopping block. Christopher Werth explains.

Ireland votes today for a new government. Last year, a bailout saved the country from disaster but an opposition win may endanger the whole deal.

European limits on eel exports and fishing are finding no favor with fishermen, but some say they are essential to conserve eels.

British computer chip designer ARM already has components in 85 percent of mobile and smartphones. It now wants to break into the personal computer market, currently dominated by Intel.

Australian airline Qantas was forced to ground its Airbus A380 super jumbo fleet after one of its plane's Rolls-Royce engines exploded in midair over Singapore last year. That accident cost Quantas an estimated $80 million -- and didn't help Rolls-Royce or Airbus, either. Christopher Werth explains.

The Bank of England will announce its outlook for U.K. growth and inflation today. Amid cost-of-living concerns, the central bank faces a tough decision: Is the economic recovery strong enough to handle an increase in interest rates in order to curb inflation? Christopher Werth has more.

Nokia, the world's largest cell phone-maker, has joined together with software giant Microsoft to grab a larger share of the lucrative smartphone market. But as Christopher Werth explains, this union may not be enough to catch up with Apple and Google.

Officials from the London Stock Exchange Group PLC and Toronto based TMX group Inc. announced the merger today. Bringing the two companies together will produce the second largest mining- and resource-exchange in the world. Christopher Werth explains.

High prices of iron ore and other raw materials have hurt the steel industry. But the world's largest steel maker is predicting a strong 2011. As Christopher Werth explains, growth in the steel industry could mean growth in the global economy.