uk-economy
BusinessBank of England’s Mann Sees Inflation Pressure Keeping Rates High
BankingUK Finance Firms Seek ‘bold’ Reforms to Counter Wall St Ascendancy
BusinessRetail Boss Calls for UK Tax Rises to Be Staggered to Avoid Stoking Inflation
InvestingUK Stocks Slip Ahead of U.S. Inflation Data; Smiths Group Rallies
UK Watchdog Urges Supreme Court to Act as $21 Billion Motor Finance Scandal Looms
Date: November 13, 2024
By Sinead Cruise and Lawrence White LONDON (Reuters) – Britain’s Financial Conduct Authority is pressing the Supreme Court to expedite a decision to permit lenders to appeal a crucial judgment that may pave the way for a multi-billion pound consumer redress scheme linked to motor finance commissions. The watchdog said it would also consult on...
Sterling Drifts Near 3-month Lows vs Dollar
Date: November 13, 2024
By Medha Singh (Reuters) – The pound hovered near three-month lows against a stronger dollar on Wednesday, after a sharp fall in the previous session following data that showed inflation was easing in the UK. Sterling dipped 0.1% to $1.2795 after hitting its lowest since early August at $1.2719 on Tuesday, after data showed regular...
British Writer Harvey Wins Booker Prize for Space Story ‘Orbital’
Date: November 13, 2024
LONDON (Reuters) – Britain’s Samantha Harvey won the 2024 Booker Prize for her novel ‘Orbital’, a story about a single day aboard the International Space Station which she wrote during COVID-19 lockdowns. The novel, Harvey’s fifth, was the top selling book on the shortlist of six finalists and has sold more copies than the past...
UK Grocery Inflation Higher Again as Countdown to Christmas Begins
Date: November 12, 2024
By James Davey LONDON (Reuters) – British shoppers faced renewed pressure on their budgets in October after grocery price inflation edged higher for the second month in a row, industry data showed on Tuesday. Market researcher Kantar said annual grocery price inflation was 2.3% in the four weeks to Nov. 3, having been 2.0% in...
Earnings, China Worries Drag FTSE 100 to Three-Month Low
Date: November 12, 2024
By Pranav Kashyap (Reuters) – London’s benchmark index hit its lowest point in over three months on Tuesday, fuelled by concerns over Donald Trump potentially appointing a China hawk as the leading U.S. diplomat, along with some disappointing corporate updates. The blue-chip FTSE 100 fell 1% by 1311 GMT, trading at its lowest level since...
Pound Hits 3-month Low on Jobs Data and Dollar’s Trump Rally
Date: November 12, 2024
By Harry Robertson LONDON (Reuters) – The pound fell to a three-month low after data on Tuesday showed regular wage growth cooled and unemployment ticked up, and as currencies felt the pressure of a surging dollar after Donald Trump’s U.S. election victory. Sterling fell as much as 0.5% to $1.2806, its lowest since Aug. 15,...