uk-economy
Top StoriesSterling Rises After UK Unemployment Rate Unexpectedly Falls
Top StoriesUK’s Just Group Beats First-Half Profit Estimate as Demand for Pension Insurance Soars
Top StoriesBritain’s CEOs Get Record Pay in 2023, Research Shows
Top StoriesUK Employers Plan Smallest Pay Rises in Two Years, Survey Shows
Bank of England Rate Cut Boosts Comeback Factor for UK Markets
Date: August 2, 2024
By Naomi Rovnick and Amanda Cooper LONDON (Reuters) -Big investors are growing more confident about a comeback for neglected UK assets, with the Bank of England’s move to cut interest rates from a 16-year high burnishing the feel-good factor from the new British government’s landslide election win. The BoE cut rates by a quarter point...
UK Public Sector Workers Get Above-Inflation Pay Rises, Worth 9 Billion Pounds
Date: July 29, 2024
LONDON (Reuters) -British public sector workers such as teachers and doctors are set to receive inflation-busting pay rises worth 9.4 billion pounds ($12.1 billion) that will pressure the public purse but help avoid disruptive industrial action, the government said on Monday. The new Labour government said it would make cuts to public spending in other...
NatWest First-Half Profit Down 16% as Mortgage Competition Bites
Date: July 26, 2024
LONDON (Reuters) – NatWest’s first-half pretax operating profit fell by a less than expected 16% to 3 billion pounds ($3.86 billion), it said on Friday, with margins hit by mortgage market competition and savers shifting deposits to higher-paying products. The British bank said this month that the government’s stake in it fell below 20%,...
UK Car Output Logs Fourth Consecutive Monthly Fall in June, Data Shows
Date: July 25, 2024
(Reuters) – UK’s car output fell for the fourth consecutive month in June, as more manufacturers wound down old models and transitioned towards electric vehicles, industry data showed on Thursday. A total of 62,231 cars rolled off production lines in June, down 26.6% from a year earlier, the Society of Motor Manufacturers and Traders...
UK Pay Settlements Hold at 4.9% in Three Months to June
Date: July 24, 2024
By David Milliken LONDON (Reuters) – British employers offered average annual pay settlements of 4.9% in the three months to June, unchanged from the previous month, industry data showed, highlighting continued strong wage growth that may sustain the Bank of England’s inflation worries. Brightmine, which compiled the data based on 145 pay settlements covering 370,000...
UK Conservative Party to Announce New Leader on Nov. 2
Date: July 23, 2024
LONDON (Reuters) -Britain’s Conservative Party said on Monday it will name its new leader on Nov. 2, following the party’s worst-ever election performance this month that prompted former Prime Minister Rishi Sunak to say he would stand down. Sunak will remain acting leader until the appointment of a successor, the Conservative Party said in...