News And Announcements
UK consumer credit jumps in June but mortgage lending falls short
Consumer credit expanded more quickly than expected last month amid a jump in credit card use but mortgage lending fell short of forecasts.
CMA launches 'greenwashing' probe into Asos, Boohoo and Asda
Two online fashion giants and a supermarket came under the scrutiny of the Competition and Markets Authority (CMA) on Friday, over the eco-friendly and sustainability claims made about products including clothing, footwear, and accessories.
Eurozone economic sentiment tumbles in July
Economic sentiment in the eurozone tumbled in July as the Ukraine conflict and surging inflation took their toll.
US pending home sales fall as mortgage rates rise
US pending home sales fell in June following a slight increase the month before, as mortgage rates rose, according to figures released on Wednesday by the National Association of Realtors.
Goldman Sachs forecasts eurozone recession in second half
A eurozone recession is coming, Goldman Sachs said in a research note.
EU agrees gas rationing plans, but with exemptions
European Union members agreed to reduce their gas consumption on Tuesday in the face of increased gas rationing by Russia, albeit in a more watered-down fashion than that first proposed.
Retail sales continue to fall in July - CBI
Retail sales continued to fall in the year to July, albeit it at a more modest pace, as the cost-of-living crisis continues to take its toll, according to a survey released on Tuesday by the Confederation of British Industry.
Lufthansa ground staff to stage 'warning strike' on Wednesday
Ground handling staff at Lufthansa are set to stage a “warning strike” on Wednesday across all of the airline’s locations, as disagreements between around 20,000 workers and the German flag carrier in collective bargaining continued.
UK industrial output slows - CBI
UK industrial output grew at the slowest pace in more than a year in the three months to July, reflecting softer demand domestically and internationally, according to a survey released on Monday.
Germany on brink of recession - Ifo
Germany is on the brink of recession, according to a survey released on Monday by the Ifo Institute.
Eurozone business activity falls unexpectedly in July
Business activity unexpectedly contracted in the eurozone in July as surging costs saw consumers retrench their spending, a survey released on Friday revealed.
Six high street banks broke CMA information rules
Six high street banks were found to have broken rules imposed by the Competition and Markets Authority under the Retail Banking Market Investigation Order 2017, it was revealed on Friday.
UK manufacturing output drops for first time since May 2020
UK manufacturing output fell in July for the first time since May 2020, according to a survey released on Friday.
UK consumer confidence remains at record low in July - GfK
UK consumer confidence remained at a record low in July amid surging prices and rising interest rates, according to the latest survey from GfK.
UK retail sales fall in June amid cost-of-living crisis
UK retail sales fell in June amid the cost-of-living crisis, according to figures released on Friday by the Office for National Statistics.
ECB hikes rates for first time in 11 years
The European Central Bank announced its biggest rate hike in more than 20 years on Thursday as it looks to tackle inflation, which hit a record 8. 6% in June.
Pfizer, Flynn fined £70m for price-gouging on epilepsy drug
The Competition and Markets Authority handed down £70m in fines to two pharmaceutical companies on Thursday, for charging hugely excessive prices for an anti-seizure drug.
Bank of Japan keeps rates unchanged; lifts inflation forecast
The Bank of Japan kept interest rates unchanged on Thursday as expected, but lifted its inflation forecast and cut growth estimates.
UK public borrowing still above OBR forecasts in June
UK public sector borrowing came in below expectations for June, according to fresh figures on Thursday, but was still above the Office for Budget Responsibility (OBR) forecast.
German government set to take 30pc stake in Uniper
Further details on the rescue plan for German energy firm Uniper were unveiled on Wednesday, with the federal government set to take a stake of 30% in the company.