uk-economy
FinanceUK Economy Contracts in September in Blow to Reeves’ Growth Push
Top StoriesUK Energy Regulator Approves $2.5 Billion Funding for New Subsea Cable
InvestingFTSE 100 Subdued as Pharma Stocks Weigh
TradingSterling Heads for Worst Weekly Performance Since January
UK Must Keep Trade Open and EU Close in Fragmenting World, Bank of England’s Bailey Says
Date: November 14, 2024
By Andy Bruce (Reuters) – Britain should stand up for free trade and rebuild ties with the European Union as the global economy fragments, Bank of England Governor Andrew Bailey said in a speech on Thursday that cast an eye towards Donald Trump’s White House return. Bailey said a commitment to open trade was vital...
UK Pensions Changes May Favour Bigger Fund Managers, Executives Say
Date: November 14, 2024
By Carolyn Cohn and Iain Withers LONDON (Reuters) – Britain’s plans to bulk up local government and private employer pension schemes into ‘megafunds’ to boost domestic investment are likely to benefit larger asset managers over smaller, more specialist ones, industry executives said. The megafunds’ consolidation will provide Britain with up to 80 billion pounds ($101.35...
Burberry Boosts UK Mid-Cap Stocks, Focus on Speeches From Reeves and Bailey
Date: November 14, 2024
By Sruthi Shankar (Reuters) -UK stocks rose on Thursday, with luxury firm Burberry leading gains in the mid-cap index after unveiling a turnaround plan, while investors awaited speeches from finance minister Rachel Reeves and Bank of England chief Andrew Bailey. Burberry rallied almost 19%, logging its biggest single-day percentage gain, after it announced a turnaround...
UK House Price Growth Quickens but Budget Clouds Outlook, Rics Survey Shows
Date: November 14, 2024
(Reuters) – British house prices rose in October at the fastest pace in more than two years, according to a survey that on Thursday that mostly reflected sentiment before finance minister Rachel Reeves published her budget at the end of the month. The Royal Institution of Chartered Surveyors said its house price balance rose to...
Sterling Squashed by Dollar Steamroller, Traders Watch Out for Reeves’ Speech
Date: November 14, 2024
LONDON (Reuters) – The pound dropped to its lowest against the dollar since early July on Thursday, brushed aside by the U.S. currency’s relentless rise following Donald Trump’s U.S. election victory. Those developments are swamping British news for investors, although they will be keeping an eye on finance minister Rachel Reeves’ first Mansion House speech...
UK Stocks Edge Higher, Burberry Boosts Mid-Caps
Date: November 14, 2024
By Sruthi Shankar (Reuters) – UK stocks edged higher on Thursday, with luxury firm Burberry leading gains in the mid-cap index after unveiling a turnaround plan, while declines in mining stocks kept overall gains in check. Burberry rallied 17%, on track for a record percentage gain, after it announced a turnaround plan to win back...