Economic News
House prices cool as London dip continues
House prices in London have fallen for the second consecutive month after a nine-year streak of increases, according to data from the UK Office for National Statistics (ONS) released on Wednesday.
Brexit minister admits UK will have to pay £39bn divorce bill before trade deal is agreed
Brexit minister Suella Braverman was forced to admit to lawmakers that the UK is legally bound to pay the £39bn divorce bill even if it doesn’t manage to secure a trade deal with the European Union.
Turkish central bank executes emergency rate hike to stem lira weakness
Turkey's central bank has hiked interest rates following an emergency meeting by rate-setters in Ankara.
Cofunds' botched accounts transfer leaves hundreds of investors locked out
Some Cofunds clients report they are unable to access their investment accounts online after a mass IT transfer earlier this month went wrong.
US crude oil inventories jump over latest week, DoE says
US crude oil and product stockpiles jumped last week, on the back of a jump in net imports.
US new home sales drop 1.5% in April
Sales of new US single-family homes fell in April, according to figures released on Wednesday by the Commerce Department, which revised down its data for each of the last three months.
US service sector activity, price pressures jump in May - IHS Markit
The pace of growth in America's economy accelerated in May, according to the results of two widely-followed surveys, amid signs of heightened price pressures in the pipeline.
Retail sales pick up but remain weak, CBI says
Retail sales picked up in May after two months of declines but remained weak, a CBI survey showed.
Europe open: Stocks drop sharply as Trump douses optimism on trade, geopolitics
European stocks have started the morning lower after the US President said he was not happy with the results of recent trade talks between his country and China.
UK inflation unexpectedly falls to 13-month low
Inflation fell unexpectedly in April, casting doubt on when the Bank of England will next decide to increase interest rates.
Eurozone boom tailing off, surveys say
European economic growth is slowing further, manufacturing and services industry surveys indicated on Wednesday.
Trump warns US-North Korean summit could be delayed
The US president warned that the summit with North Korean leader Kim Jong-Un set for 12 June in Singapore could be delayed.