News And Announcements
German business confidence falls on 'bottleneck recession'
German business morale fell for the third month running in September, as manufacturers experienced a "bottleneck recession" due to the supply chain crisis, according to a survey released on Friday.
UK agrees to relax visa rules for foreign truck drivers - report
British Prime Minister Boris Johnson has reportedly approved the relaxation of UK immigration rules to allow more foreign truck drivers into the country to ease shortages at petrol stations and wider economic disruption.
UK August retail sales record unexpected 0.9% fall as shortages bite
UK retail sales volumes fell 0. 9% in August from July and unchanged year on year, the Office for National Statistics said on Friday, as grocery sales were hit by more people returning to restaurants and pubs.
Eurozone business growth slows as demand peaks
Eurozone business growth slowed markedly in September as demand peaked and supply chain problems affected production and deliveries, a survey showed.
BoE leaves policy unchanged as job fears loom
The Bank of England said it expected inflation to peak at more than 4% in 2021 but left monetary policy unchanged as the central bank focused on slowing growth and potential job losses over rising prices.
UK public borrowing falls as economy revives
UK public borrowing fell in August as the economy recovered but higher inflation pushed up the cost of public debt, official figures showed.
Fed's Bostic sees no taper at September meeting
The US Federal Reserve is unlikely to taper its bond-buying programme at its September meeting but action could come later this year, a hawkish member of the central bank's monetary policy committee said.
UK retail sales growth slows as demand subsides
UK retail sales growth slowed in August as demand unleashed after the end of lockdowns began to fizzle out, industry figures showed.
China trade surplus beats expectations
China's trade surplus rose unexpectedly in August as exports surged despite Covid-19 shutdowns.
Boris Johnson unveils £12bn tax rise for health and social care
Boris Johnson has announced a £12bn annual tax increase to fund higher health and social care spending that his critics said was unfair and inadequate.
UK medical officers recommend vaccines for children age 12-15
Britain's chief medical officers recommended Covid-19 vaccines for children as young as 12, arguing the move was warranted given the benefits of reducing educational disruption because of the pandemic.
UK house prices surge almost £5,000 in August
House prices surged in August, with the average property value across the UK increasing by almost £5,000 in just one month.
Electric vehicle demand surges despite industry's worst August since 2013
Electrified vehicle demand surged across the UK in August but supply chain constraints still undermined the overall market.
Heathrow passenger numbers increase to highest level of pandemic in August
Heathrow saw a 48% month-on-month increase in passenger numbers in August as roughly 2. 2m people travelled through the west London airport last month.
US existing home sales decline in August
Existing home sales fell in August, with supply remaining constrained and prices accelerating further.
UK households more pessimistic as living costs rise
UK households are feeling more downbeat about their finances, a survey showed on Wednesday, as a post-lockdown surge in confidence faded and living costs surged.
Evergrande raises $1.5bn after selling bank stake
China’s Evergrande is to sell part of its stake in Shengjing Bank for $1. 5bn, as the embattled firm looks to raise cash and paydown creditors.
Oil passes $80 per barrel for first time in three years
Benchmark oil prices have pushed past $80 a barrel for the first time in three years, as concerns about possible shortages grow.
Westminster temporarily suspends competition laws in effort to restock petrol stations
Downing Street has temporarily suspended competition laws as part of an effort to aide oil companies in targetting petrol stations that have run dry following days of panic buying.
EU unveils law for common phone charger in blow for Apple
The European Union on Thursday unveiled plans to make USB-C connectors the standard charging port for all smartphones, tablets and other electronic devices, in a move that will hit iPhone maker Apple.