Economy

 

Global economic woes dent strong UK consumer sentiment

LONDON - British consumer morale eased in July as concerns about Greece and the global economy weighed on Britons' outlook for the economic situation over the next year, a survey showed on Friday.

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Edging towards rate hike, BoE sets out money market reform plan 30 Jul 2015

LONDON - The Bank of England set out plans on Thursday to reform a key benchmark for interbank borrowing costs, a measure of financial conditions that will come into sharper focus as the central bank comes closer to its first interest rate increase in nearly a decade.

New Bank of England rate-setter to keep interest in hedge fund 30 Jul 2015

LONDON - New Bank of England policymaker Gertjan Vlieghe will retain a financial interest in one of the world's biggest hedge fund firms while he sets interest rates, an arrangement that Britain's finance ministry said posed no conflict of interest.

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UK mortgage lending jumps in June, business lending plunges 29 Jul 2015

LONDON - British mortgage lending picked up strongly in June, adding to signs that the housing market is regaining momentum, but a sharp drop in lending to businesses was a reminder that the economic recovery has yet to find a sounder footing.

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UK July retail sales growth slows, outlook weakens - CBI 29 Jul 2015

LONDON - British annual retail sales growth slowed in July, despite a big rise in clothing purchases, and is expected to weaken further next month, a survey by the Confederation of British Industry showed on Wednesday.

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Taylor Wimpey, Foxtons say buyer interest heats up post-election 29 Jul 2015

LONDON - Housebuilder Taylor Wimpey and London estate agent Foxtons said activity in the property market had stepped up since May's general election, with buyers' confidence boosted by sustainable levels of price inflation and low mortgage rates.

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Irish central bank planning for possible 'Brexit' 29 Jul 2015

DUBLIN - Ireland's central bank is making plans in case Britain leaves the European Union and its chief economist said on Wednesday that uncertainly over possible "Brexit" was enough to depress economic growth.

Bank of England ends "drip-feed" news, but will clarity result? 29 Jul 2015

LONDON - The Bank of England runs the risk of sending mixed messages next week when it changes the way it announces its monetary policy decisions, designed as part of the Bank's push for greater clarity.

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Britain's economy bounces back, despite currency hit to exporters 29 Jul 2015

LONDON - British economic growth got back on track in the second quarter but the strength of the pound hurt manufacturers, putting the Bank of England in a tricky spot as it gets closer to raising interest rates.

Hedge fund economist to join Bank of England's MPC 29 Jul 2015

LONDON - An economist from one of the world's biggest hedge funds has been appointed to help set Bank of England interest rates, Britain's Treasury said on Tuesday.

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