uk-economy
Top StoriesUK Grocery Inflation Edges Higher Again, Says Kantar
FinanceUK Regular Pay Rises by Annual 4.8% in Three Months to September
Top StoriesVital Signs Improve for English Healthcare Productivity, Think Tank Says
InvestingUK Stocks Rebound as Investors Await Key Data
NatWest Buys Back 1 Billion Pounds of Its Shares, Accelerating Full Privatisation
Date: November 11, 2024
LONDON (Reuters) – NatWest has bought back 1 billion pounds ($1.29 billion) worth of its own shares from Britain’s government, the bank said on Monday, as it continues its exit from state ownership following its bailout in the 2008 financial crisis. UKGI, which manages the government’s stake in the bank, said as a result of...
UK Public-Sector Pay Rises to Overtake Private Ones, Employers Say
Date: November 11, 2024
By Suban Abdulla LONDON (Reuters) – British public-sector employers now expect to raise pay faster than their private-sector counterparts for the first time since late 2020, after the new Labour government approved big public-sector pay rises funded in part by higher employer taxes. The Chartered Institute of Personnel and Development said 2,000 employers surveyed from...
Britain’s Reeves to Use Major Speech to Promote ‘free and Open’ Trade, the Observer Reports
Date: November 10, 2024
LONDON (Reuters) – Britain’s finance minister Rachel Reeves is expected to use a major speech this week to “promote free and open trade between nations” amid the threat of potential tariffs under Donald Trump’s presidency, The Observer newspaper reported on Saturday. Trump, who won the 2024 U.S. presidential election, has proposed imposing a 10% tariff...
UK Energy Regulator Proposes New Rules to Cut Backlog of Projects Awaiting Grid Link-Up
Date: November 9, 2024
LONDON (Reuters) – Britain’s energy market regulator on Friday proposed new regulations for grid companies to cut down the backlog of renewables projects waiting to connect to the grid. In a consultation document, Ofgem said projects waiting to be connected has reached more than 730 gigawatts, well above the 220-225 GW of generation projects the...
Homebuilder Woes, Lacklustre China Stimulus Drag FTSE 100 to 3-month Low
Date: November 8, 2024
By Sruthi Shankar (Reuters) – The UK’s FTSE 100 fell to a three-month low on Friday, dragged down by a profit warning from homebuilder Vistry and lackluster stimulus measures from China weighed on investor sentiment. The blue-chip FTSE 100 dropped 0.8%, having fallen about 1% earlier to its weakest level since August 8. The index...
Bank of England Cuts Rates but Sees Higher Inflation After Reeves’s Budget
Date: November 8, 2024
By Andy Bruce, Suban Abdulla, David Milliken LONDON (Reuters) -The Bank of England cut interest rates on Thursday for only the second time since 2020 and said future reductions were likely to be gradual as it predicted the British government’s first budget would lead to higher inflation and economic growth. The Monetary Policy Committee voted...