Economic News
Number of UK smokers falls even as e-cigarettes gain in popularity
A report from the Office for National Statistics revealed a marked decrease in the number of adult smokers last year even as demand for e-cigarettes increased.
FX round-up: More hawkish BoE sees sterling shoved higher
Sterling got a firm shove higher thanks to a more-hawkish-than expected leaning by Bank of England's policy makers in holding the benchmark rate and QE unchanged.
London close: More hawkish BoE sends sterling higher and pushes FTSE down
London stocks were diving amid a cruel sea of tumbling UK equities indices after the Bank of England held its benchmark interest rate but surprised with a more hawkish stance than expected.
Commodities: Gold, silver decline as UK, US central banks set hawkish tones
Precious metals gold and silver went for a run south on Thursday with each hitting multi-week lows as markets mulled more hawkish stances from the Bank of England and US Federal Reserve.
Trump signs Qatar weapons deal despite terrorism claims
Qatar has signed a deal to buy $12bn worth of F15 fighter jets from the US, despite President Donald Trump’s claims that the state has been funding terrorist organisations.
US industrial output slips in May, but economists sanguine
Industrial production in the States undershot market forecasts in May, on the back of weakness in factory and utilities output.
Hammond pulls out of Mansion House speech, citing Grenfell Tower tragedy
Chancellor Philip Hammond has pulled out of giving his annual Mansion House speech in the City of London on Thursday evening, after the Grenfell Tower fire.
US import prices fall more quickly than expected in May
Import prices Stateside fell more than expected last month amid a large drag from declining fuel import costs.
US initial jobless claims drop more than expected
The number of Americans filing for unemployment benefits fell more than expected last week, according to data from the Labor Department.
Empire State manufacturing improves more than expected in June
Business conditions in the New York region improved a lot more than expected in June, according to a survey from the New York Fed.
Hammond to push for soft Brexit and infrastructure boost, as DUP talks stumble
Chancellor Philip Hammond will make a case for avoiding a 'hard' Brexit and boosting investment in UK infrastructure projects, as he delivers his annual Mansion House speech to the City of London later on Thursday.
Philly Fed manufacturing deteriorates less than expected
Manufacturing conditions in the Philadelphia region deteriorated a little less than expected in June, according to a survey released on Thursday.
Queen's speech delayed by two days, Commons leader confirms
The Queen's speech that will confirm the state opening of parliament has been pushed back to Wednesday 21 June, the leader of the House of Commons has announced.
MPC votes 5 to 3 to keep Bank Rate at 0.25%
The continued drop in the rate of unemployment prompted two more rate-setters on the Monetary Policy Committee to vote for an immediate 25 basis point increase in Bank Rate.
UK retail sales much worse than expected as households feel the pinch
UK retail sales shrank much more than expected in May, according to official data published on Thursday that shows how households are feeling the pinch from rising inflation and falling wages.
June 2017 FOMC - Economists react
"As we look forward, there are unanswered issues/questions. The three recent rate hikes have been accompanied by lower bond yields and a significantly flatter yields curve. At what point does the Fed become concerned? The renewed inflation weakness is puzzling —the unemployment rate is at 4. 3%, a 16-year low, well-below the Fed’s estimate of the natural rate of unemployment, but wage increases remain modest even though there is mounting anecdotal evidence of pockets of labor market tightness and skill mismatches.
Heathrow hit by chaos again after baggage systems failure
Many passengers travelling from Heathrow on Thursday were forced to set off with only their hand luggage after the airport suffered a baggage systems failure.
Trump reportedly under investigation for obstruction of justice in Russia probe
US President Donald Trump is being investigated by the FBI for a potential obstruction of justice related to the ongoing inquiry into Russian meddling in last year's election, according to media reports in the country.