Economic News
Minimum wage increase 'would boost public finances by £5.6bn a year'
Raising minimum wage rates to £10 per hour for workers over the age of 18 would boost the public finances by an estimated £5. 6bn a year says new study from Landman economics for UK trade union Unite.
London mayor accuses 'hard Brexit zealots' of ignoring economic evidence
London's mayor Sadiq Khan has criticised Brexit-supporters in the government of putting an “ideological obsession” ahead of Britain's interests.
Qatar-backed venture gets approval for Elephant & Castle scheme
A venture backed by Qatar’s sovereign wealth fund has been given the go-ahead for a contentious project to build almost 1,000 homes in London’s Elephant and Castle district.
Electoral Commission accuses Vote Leave of breaking campaign spending rules
The Electoral Commission has found Vote Leave, the pro-Brexit campaign backed by foreign secretary Boris Johnson and Conservative front-bencher Michael Gove, broke legal spending limits during the Brexit referendum.
Danske Bank shares down 3% after alleged $8.3bn laundering accusations
Danske Bank shares were down 3% after reports that its Estonian operations were allegedly used to launder as much as $8. 3bn, double previous estimates.
Shop prices fall more slowly in June, BRC survey shows
Shop prices fell more slowly in June but the pace of decline is likely to pick up again, a survey showed.
May pleads with EU leaders not to dismiss her Brexit plan
Theresa May is begging EU leaders to give her strategy a chance as she prepares to present a softer form of Brexit to her anti-EU cabinet members.
Retailers call for high street restructure, with sales tax to replace business rates
Retailers urged the government to urgently review business rates and set a sales tax on digital retail giants such as Amazon to save the UK's high streets.
Eurozone business picks up but uncertainty clouds outlook
Business activity in the euro-zone rose slightly more in June than previously believed as growth of output and new business speeded up.
UK services growth accelerates, improving odds on August rate hike
Activity in the UK dominant services industry improved much more than expected last month, suggesting the British economy grew 0. 4% in the second quarter of the year and raising the chances that the Bank of England will hike interest rates in August.