uk-economy
BankingBarclays Says Bank of England to Hold Rates in December Meeting
BankingBank of England Cuts Rates Again, Sterling Higher
FinanceBritain’s Bt Maintains Profit Outlook Despite Revenue Weakness
FinanceUK House Prices Hit Record High but Rise by Least in 3 Months, Halifax Says
Bank of England Readies New Rate Cut as Budget Hangs Over Outlook
Date: November 7, 2024
By Andy Bruce LONDON (Reuters) – The Bank of England is likely to cut interest rates on Thursday for only the second time since 2020 but the big question for investors is whether the BoE sends a signal about its subsequent moves after the government’s inflation-raising budget. The BoE has had almost a week to...
UK Orders China-Registered Firm to Sell Stake in Scottish Chip Company
Date: November 7, 2024
LONDON (Reuters) – The British government on Wednesday ordered China-registered Future Technology Devices International Holding Ltd to sell 80.2% of Scotland-based chip company FTDI over national security risks. “The order has the effect of requiring FTIDHL to sell 80.2% of FTDI within a specified period and by following a specified process,” the government said in...
FTSE 100 Pulls Back From Early Gains After Trump’s Victory
Date: November 6, 2024
By Nikhil Sharma and Sruthi Shankar (Reuters) -The UK’s benchmark FTSE 100 slipped on Wednesday as losses in shares of homebuilders and precious miners countered an upbeat global market sentiment following Republican Donald Trump’s election as U.S. president. The blue-chip FTSE 100 was down 0.1%, while the FTSE 250 midcap index rose 0.3%. Both indexes...
M&s and Wetherspoons Face Multi-Million Pound Hit From ‘double Whammy’ Budget
Date: November 6, 2024
By James Davey and Yamini Kalia LONDON (Reuters) – Marks & Spencer and JD Wetherspoon, two of Britain’s biggest high street employers, said higher taxes and a jump in the minimum wage would cost them a combined 180 million pounds ($232 million) annually. Britain said last month it would raise employers’ National Insurance (NI) social...
UK’s Queen Camilla, Suffering Chest Infection, to Resume Engagements Next Week
Date: November 6, 2024
LONDON (Reuters) – Queen Camilla, the wife of Britain’s King Charles, will resume engagements next week when she will host a reception for a literary prize, Buckingham Palace said, after a chest infection forced her to cancel events this week. Camilla, 77, pulled out of her planned engagements for the rest of this week to...
UK Homebuilder Persimmon Flags Cost Concerns After Strong Q3 Sales
Date: November 6, 2024
(Reuters) -British homebuilder Persimmon’s sales rates since the start of the third quarter were well ahead of last year, it said on Wednesday, but flagged concerns about higher costs emerging in price negotiations for 2025. The prospect of rising costs that could offset an improvement in sales across the British building sector is underscored by...