Mixed economic signals for Britain's new government

Britain's new government faced mixed economic signals on Wednesday, as official data showed unemployment at a seven-year low while the Bank of England slashed its annual growth forecasts. Both updates came as the EU said that Britain had failed to meet budget deficit targets and would have to remain under Brussels oversight for another two years to make sure it does. In a boost for Britain's Conservative Prime Minister David Cameron -- who won last week's general election on his e