Economy

 

Banks' home loan approvals fall to 12-month low

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LONDON - British banks approved the smallest number of home loans in a year during August, industry data showed on Tuesday, adding to recent signs some of the heat in the housing market is fading.

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UK August public finances show further slippage, income tax weak 23 Sep 2014

LONDON - Britain's public finances continued to deteriorate in August after a weak start to the financial year, posing a challenge for Chancellor George Osborne as next year's general election approaches.

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Eyeing 2015 election, Labour says it can be trusted to revive the economy 23 Sep 2014

MANCHESTER England - The Labour party promised on Monday to keep a firm grip on spending if it wins next year's election, seeking to persuade voters with tough budget talk that the recovering economy will be safe in its hands.

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UK August retail sales recover, driven by furniture and vacuum cleaners 18 Sep 2014

LONDON, Sept 18 - British retail sales growth recovered last month after stagnating in July, driven by strong sales of furniture and a rush to buy high-powered vacuum cleaners, official data showed on Thursday.

UK factory export orders balance slumps to 21-month low 18 Sep 2014

LONDON - Demand for British factory exports fell to a 21-month low this month, causing overall orders growth to slow sharply, figures from the Confederation of British Industry showed on Thursday.

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UK trade deficit wider on illegal drug imports 18 Sep 2014

LONDON - Britain's trade deficit widened by 4 billion pounds due to imports of illegal drugs in 2012, equivalent to more than 10 percent of the country's trade shortfall that year, according to new figures from the Office for National Statistics.

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Most Bank of England officials oppose rate rise as wages stagnate 17 Sep 2014

LONDON - Most Bank of England policymakers remained firmly against raising interest rates when they met this month, and data released on Wednesday showed wages rising at their slowest pace on record, indicating inflationary pressure will remain subdued.

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UK earnings edge up, unemployment falls more than expected 17 Sep 2014

LONDON - The earnings of British workers picked up in the three months to July but still lagged far behind inflation, even as unemployment fell more than expected, official data showed.

UK households say incomes rising more quickly - Markit survey 17 Sep 2014

LONDON - British households saw their income from employment rise at the quickest pace in more than a year in August, according to a survey on Wednesday likely to be noticed by the Bank of England.

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UK inflation slips back, house price growth hits seven-year high 16 Sep 2014

LONDON - British inflation edged down last month but house price growth surged in July at the fastest annual pace since in seven years, official data showed on Tuesday.

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