uk-economy
Top StoriesRent in England Hits Record High in 12 Months to November, Ons Says
BusinessUK’s National Grid to Invest up to $44 Billion in Transmission Business
Top StoriesUK Inflation Hits 8-month High but Underlying Pressures Steady
Top StoriesLondon’s Heathrow to Invest Nearly $3 Billion to Upgrade Airport
UK Employers Hold Pay Deals at 4% Before Expected Fall in 2025, Survey Shows
Date: December 18, 2024
(Reuters) – Pay deals awarded by British employers were steady in the three months to November and are likely to slow next year as companies economise to meet higher tax bills introduced by the new government’s first budget, a survey showed on Wednesday, Human resources data firm Brightmine said the median pay award held at...
UK’s FTSE 100 Hits Three-Week Low After Strong Pay Data; Bunzl Slumps
Date: December 18, 2024
(Reuters) – Britain’s FTSE 100 dropped to a three-week low on Tuesday after domestic data showing strong wage growth prompted investors to pare bets on Bank of England (BoE) interest rate cuts next year. The blue-chip index ended down 0.8%, while the mid-cap FTSE 250 lost 1.3%, its biggest one-day percentage fall in five weeks....
Sterling Gets a Lift From Hotter UK Wage Growth
Date: December 17, 2024
By Amanda Cooper LONDON (Reuters) – The pound rose on Tuesday, supported by data that showed UK wage growth picked up more than expected in the three months to October, which in turn raises the chances that the Bank of England will not rush to cut rates next year. Average weekly earnings, excluding bonuses, were...
UK’s Capita Flags up to 140 Million Pound Cash Outflow in 2024, Shares Fall
Date: December 17, 2024
(Reuters) – British outsourcing group Capita on Tuesday flagged a free cash outflow of 120 million pounds to 140 million pounds ($152.4 million-$177.8 million) in 2024, partly hurt by lower revenues, dragging down its shares. Shares in the FTSE Small Cap company fell as much as 7.9% to a more than one-month low of 16.07...
UK Pay Growth Speeds Up, Adding to Worries for Bank of England
Date: December 17, 2024
By William Schomberg and Suban Abdulla LONDON (Reuters) -British pay rose by more than expected in the three months to October, official data showed on Tuesday, prompting investors to further rein in bets on Bank of England interest rate cuts next year, despite warning signs of a slowdown in the economy. Average weekly earnings, excluding...
Olympics-UK Sport to Pump $418 Million Into Sports for La 2028 Games
Date: December 17, 2024
(Reuters) – UK Sport said it will invest 330 million pounds ($418 million) in Olympic and Paralympic sports for the 2028 Los Angeles Games, though athletics and canoeing will see their funding cut. Britain finished seventh in the athletics medal table at the Paris Games with 10 medals, with Keely Hodgkinson winning their only gold...