News And Announcements
UK retail sales unexpectedly fall in February
UK retail sales unexpectedly fell in February, with online shopping dropping back below pre-pandemic levels and storms keeping shoppers away, according to figures released on Friday by the Office for National Statistics.
UK consumer confidence plunges as prices rocket - GfK
UK consumer sentiment plunged again in March as fears about the soaring cost of living intensified, a survey showed.
Fed's Evans sees six more rate hikes this year
Federal Reserve Bank of Chicago President Charles Evans said on Thursday that he sees six more 25 basis point rate hikes this year.
UK's Sunak hints at energy bill help after mini-budget criticism
UK Finance Minister Rishi Sunak’s mini-budget was under fire on Thursday for failing to tackle the cost of living crisis hitting the lowest paid and vulnerable.
UK widens sanctions against Russia
The UK has imposed fresh sanctions on a number of Russian businesses and individuals, including a private paramilitary organisation and the stepdaughter of Sergey Lavrov, Russia’s foreign minister.
Retail sales growth slows in March - CBI
UK retail sales growth slowed in March as living costs rose, according to a survey released on Thursday by the Confederation of British Industry.
BoE may delay bank capital move because of Ukraine war
The Bank of England is considering delaying plans to tighten banks' capital requirements because of concerns created by Russia's invasion of Ukraine.
Eurozone economic outlook darkens 'significantly' - survey
Eurozone growth slowed in March, a closely-watched survey showed on Thursday, as the war in Ukraine weighed heavily.
Ofgem probing National Grid on condition of Cumbria substation
Ofgem launched an investigation into National Grid on Thursday, probing whether the company’s transmission operation breached its obligations over the condition of the Harker substation in Cumbria, and delayed connecting power generation to the site.
Business optimism tumbles amid soaring costs
Business optimism has slumped, a closely-watched survey showed on Thursday, after cost inflation soared to fresh highs.
Sunak gambles with election-year tax cut as poor face living squeeze
UK Finance Minister Rishi Sunak placed a long-term bet on the 2024 General Election by pledging a cut in income taxes, while trying to ease the immediate financial pain of Britons with a reduction in fuel duty and threshold rise for National Insurance contributions.
US new home sales unexpectedly drop in February
Sales of new US single-family homes unexpectedly fell in February, according to figures released on Wednesday by the Commerce Department.
UK govt cuts fuel duty by 5p a litre
The UK government will cut fuel duty by 5p per litre, at a cost of £5bn, with the reduction to take effect from 6pm on Wednesday, Finance Minister Rishi Sunak has announced.
UK govt raises NI contributions threshold
The UK government on Wednesday lifted the national insurance (NI) threshold in an attempt to deflect criticisms from the upcoming manifesto-busting rise in NI contributions next month.
Sunak to cut income tax basic rate by 1p in 2024
UK Finance Minister Rishi Sunak said the basic rate of income tax would be cut by 1p in the pound in 2024 to 19p.
UK govt lowers 2022 & 2023 growth forecasts
UK economic growth this year and in 2023 will be slower than forecast at last autumn’s budget, as rising inflation and the Ukraine war take their toll, said Finance Minister Rishi Sunak.
Strong house price growth continues near 10pc in January
Strong growth in house prices continued at the start of 2022, with official data released on Wednesday showing a near-10% jump in prices in January, although market watchers were not expecting the surge to last.
Ifo cuts German growth forecast, cites Ukraine conflict
The Ifo Institute cut its German growth forecast on Wednesday and lifted its inflation forecast, citing the impact of the Russia-Ukraine conflict.
UK inflation hits new 30-year high
UK inflation hit a new 30-year high in February as the cost of living crisis intensified, according to data released on Wednesday by the Office for National Statistics.
Record number of manufacturers expecting price increases - CBI
The proportion of UK manufacturers expecting to raise prices in the next three months hit a record high in March amid inflationary pressures, according to a survey released on Tuesday by the Confederation of British Industry.