uk-economy
FinanceUK Insurer Aviva to Buy Direct Line in $4.65 Billion Deal
BusinessUK Business Morale Falls to 2024 Low but Pay Growth Strong, Surveys Show
UncategorizedUK’s FTSE 100 Set for Worst Week in 16 Months
TradingSterling Set to End Week in Red Against Dollar as Outlooks Diverge
UK Finance Minister to Visit China in January to Revive Regular Economic Talks, Sources Say
Date: December 20, 2024
By Joe Cash BEIJING (Reuters) – Britain’s finance minister Rachel Reeves will visit China for two days in January to revive high-level economic and financial talks that have been frozen since 2019, three people with knowledge of the plan said. Reeves is scheduled to meet China’s vice premier He Lifeng, the country’s economy tsar, on...
UK Retailers Report Gloomy Run-Up to Christmas, Cbi Says
Date: December 20, 2024
LONDON (Reuters) – British retailers reported a weak run-up to the Christmas holidays with sales falling again and businesses worrying about higher costs in 2025, the Confederation of British Industry said on Friday. The CBI’s monthly retail sales headline balance improved only marginally to -15 in December from -18 in November. It had also contracted...
UK Consumers Cautiously Shop More After Pre-Budget Slump
Date: December 20, 2024
By William Schomberg LONDON (Reuters) -British retail sales rose by a weaker-than-expected 0.2% in November, according to official data which suggested consumers had overcome their worries about the new government’s first budget but added to signs of only slow momentum in the economy. A Reuters poll of economists had forecast a monthly increase of 0.5%...
UK Borrows Less Than Expected in November but Reeves Still Under Pressure
Date: December 20, 2024
By Andy Bruce (Reuters) -Britain ran a smaller-than-expected budget deficit last month as a past lull in inflation pushed down interest paid on government bonds, giving a small boost to finance minister Rachel Reeves who has been under pressure following her budget announcement. Public sector net borrowing in November was 11.249 billion pounds ($14.06 billion),...
UK Car Manufacturing Hits 44-year Low in November, Industry Data Shows
Date: December 20, 2024
(Reuters) – UK car manufacturing hit its lowest November output since 1980, as the industry grapples with the shift to zero-emission vehicles and rising costs, according to data released Friday by the Society of Motor Manufacturers and Traders (SMMT). Factory lines produced 64,216 units in November, a 30.1% drop from the previous year. “While a...
UK’s FTSE 100 Slides After Fed’s Cautious Stance, BoE Holds Rates
Date: December 20, 2024
(Reuters) -Britain’s FTSE 100 dropped to a four-week low on Thursday after the U.S. Federal Reserve projected fewer interest rate cuts than expected in 2025, while the Bank of England kept borrowing costs on hold. The FTSE 100 fell 1.1%, hitting its lowest since Nov. 21, while the mid-cap FTSE 250 lost 0.9%, its lowest...