Economic News News


world at night

Ebola fears spark emergency Cobra meeting

Wed, 30 July 2014

The UK government has called a meeting of its emergency Cobra committee to prepare precautions should the outbreak of Ebola virus currently gripping west Africa spread to these shores. The European U... [more]

Bank of England

Bank of England finalises bonus clawback, proposes new rules for individuals

Wed, 30 July 2014

- BoE can claw back bonuses 7yrs after award - New proposals to hold individuals to account - 'Toughest banking rules in the world' The Bank of England (BoE) has finalised rules on bankers bonuses th... [more]


Eurozone economic mood stable but consumers downbeat on jobs

Wed, 30 July 2014

Eurozone economic sentiment remained broadly stable in July, although employment concerns weighed on consumer confidence, according to data published on Wednesday by the European Commission (EC). The... [more]


UK firms less optimistic about prospects and jobs in July - survey

Wed, 30 July 2014

British companies were less optimistic about their prospects in July and fewer firms expect to increase staff numbers in the next year, a survey showed. Companies' expectations of their own prospects... [more]

sse energy electricity

Ofgem sets electricity pricing controls, SSE disappointed

Wed, 30 July 2014

Household electricity bills are due to fall by around £12 a year after energy regulator Ofgem set industry pricing controls for the next eight years. The regulator said on Wednesday that it had ... [more]

Bank of England to impose tough new bonus clawback rules

Tue, 29 July 2014

The Bank of England (BoE) has decided to push ahead on its plans for super-tough bonus clawbacks on City bankers. The rules have been described as the toughest in the banking world but also "unreason... [more]

Average CEO is 54, male, studied at Harvard, Oxford or Cambridge

Tue, 29 July 2014

The average Chief Executive Officer (CEO) is a 54-year-old male who studied economics at Harvard, Oxford or Cambridge, according to a survey. The Where Do CEOs Come From app, which surveyed managemen... [more]

BoE's Broadbent plays down concerns over UK deficit

Tue, 29 July 2014

Bank of England's (BoE) Deputy Governor Ben Broadbent argued that Britain's large current account deficit does not pose an "existential threat" to the economy. Broadbent admitted that the current acc... [more]

Mortgage lending picks up in June, but debt levels a concern

Tue, 29 July 2014

The fallout from the Mortgage Market Review (MMR) appears to be passing, economists said following the release of the latest statistics on personal and mortgage lending. Total lending to individuals ... [more]

Tesco and Morrisons hit as UK grocery market falls

Tue, 29 July 2014

The British grocery market hit its lowest growth rate for a decade as discounters took another bite out of Tesco and Morrisons' business. Grocery price inflation fell to a historic low of 0.4% and th... [more]

BoE policy should continue to support the recovery, IMF says

Mon, 28 July 2014

The recovery of the British economy remains at an early stage and there is still slack in the economy. Hence, the Bank of England should continue to support the recovery the International Monetary Fu... [more]

Britain paves the way for more fracking

Mon, 28 July 2014

The government is set to allow fracking in Britain's national parks and other protected areas in "exceptional circumstances". The move is part of plans to expand fracking across the country to tap sh... [more]

UK house prices flat in June, but market still unsustainable

Mon, 28 July 2014

British house prices were flat last month as a mortgage clampdown took its toll, although experts said a sustainable market was still "some way off". Prices were unchanged in June against May, althou... [more]

UK house prices slow in July, Hometrack survey reveals

Fri, 25 July 2014

House prices in Britain rose at the slowest pace in more than a year in July following the introduction of tougher mortgage rules, according to a Hometrack survey on Friday. Prices climbed 0.1% this ... [more]

UK GDP back at pre-crisis levels after 0.8% rise in Q2

Fri, 25 July 2014

UK gross domestic product (GDP) grew at 0.8% in the second quarter as had been widely expected, data published on Friday showed. The figure means the UK is now back at levels seen prior to the recess... [more]

Wreckage of Air Algerie plane found in Mali - UPDATE

Thu, 24 July 2014

The wreckage of an Air Algerie commercial plane that crashed in Tilemsi, Mali has been found, according to French media. The plane, carrying 116 people, the majority of which were French, went missin... [more]

UK banks told to build bond buffer under new world rules

Thu, 24 July 2014

UK banks will be required to build a buffer of loss-absorbing bonds at least as big as the capital already held under new international rules, according to a Bank of England (BoE) official. The crack... [more]

UK retail sales rise less than forecast, ONS reveals

Thu, 24 July 2014

UK retail sales rose less than expected in June as clothing volumes fell, according to figures from the Office for National Statistics (ONS)on Thursday. Sales including auto fuel increased 0.1% from ... [more]

Carney says rate rise will be restrained by cautious dynamic

Wed, 23 July 2014

Bank of England Governor Mark Carney said interest rate increases will be more restrained than in the past as the economy continues to face challenges. Speaking in Glasgow ahead of the opening of the... [more]

UK mortgage approvals rise in June, BBA reveals

Wed, 23 July 2014

UK mortgage approvals rose in June despite the introduction of stricter rules on borrowing, data from the British Bankers' Association (BBA) revealed on Wednesday. The BBA's members approved 43,265 m... [more]

UK retail sales rise in July, CBI data shows

Wed, 23 July 2014

UK annual retail sales growth accelerated in July, signalling a recovery in consumer spending, according to a survey by the Confederation of British Industry (CBI) on Wednesday. The CBI distributive ... [more]

Bank of England votes unanimously on policy decision - UPDATE

Wed, 23 July 2014

The Bank of England (BoE) voted unanimously on keeping interest rates at a record low of 0.5% and asset purchases at £375bn, minutes from the central bank's last meeting revealed on Wednesday. A... [more]

UK factory orders slow in July, CBI reveals

Tue, 22 July 2014

UK factory orders slowed more than forecast in July, the Confederation of British Industry (CBI) revealed on Tuesday. The CBI survey's monthly total order book balance eased back to +2 from +11 in Ju... [more]

Pop-up retailers could add £2.1bn to economy this year

Tue, 22 July 2014

Pop-up retailers are set to add £2.1bn to the UK economy in 2014, a study by CEBR and EE has found. The research showed that the trend for temporary shops, which operate from stalls or empty ret... [more]

UK banks to set aside a further £1bn for PPI compensation

Tue, 22 July 2014

The UK's biggest banks will next week announce that they have set aside a further £1bn to meet payment protection insurance (PPI) mis-selling related compensation claims, reports have claimed. A... [more]

FTSE 100 Top Risers

Name Last Chg.% Time
Barclays 228.40 4.24 17:05
Travis Perkins 1,689.00 2.67 16:59
Royal Bank of Scotland Group 362.90 2.51 16:59
Capita 1,235.00 1.65 16:42
Reckitt Benckiser Group 5,295.00 1.44 16:55

FTSE 100 Top Fallers

Name Last Chg.% Time
Antofagasta 816.00 -4.56 16:40
GKN 351.90 -4.02 17:07
Sainsbury (J) 313.80 -2.94 17:11
Compass Group 983.00 -2.48 17:07
BHP Billiton 2,048.00 -2.29 17:07