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Economy

 

Inflation hits UK public finances in June, adding to Hammond's headache

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LONDON Britain's budget deficit came in wider than expected in June as higher inflation since the Brexit vote forced the government to pay more interest on its debt, driving home the challenge facing Chancellor Philip Hammond.

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Sunshine lifts UK retail sales, points to brighter growth 20 Jul 2017

LONDON Sunny weather brought British shoppers out and led to stronger retail sales than expected in June, shaking off a gloomy start to the year and suggesting the broader economy may be regaining speed after an early 2017 lull. | Video

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Pace of British construction activity slows as Brexit delays investment - survey 20 Jul 2017

The pace of growth in Britain's construction industry slowed over the second quarter as investment was delayed by uncertainty over Brexit and the general election, a leading property body reported on Thursday.

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Barely more than one in 10 UK firms putting Brexit plans into effect - IoD 20 Jul 2017

LONDON Barely more than one in 10 British companies has started to put Brexit contingency plans into effect as many firms remain unclear about what leaving the European Union will mean, a leading business organisation said on Thursday.

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UK state pension age to rise to 68 sooner than planned - minister 19 Jul 2017

LONDON Britain's state pension age should rise to 68 earlier than previously planned, the government proposed on Wednesday, meaning people born between 1970 and 1978 will need to work an extra year before being able to retire.

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British firms raise marketing budgets despite Brexit uncertainty - survey 19 Jul 2017

British companies increased their marketing budgets during the second quarter despite uncertainties about the economy as the UK looks to exit the European Union, a survey showed on Wednesday.

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After throwing in the kitchen sink, what's a central bank to do? 18 Jul 2017

LONDON Central banks struggling to lift historically low interest rates and rein in stimulus programmes may have more on their minds than just getting back to normal -- they are, by some accounts, nowhere near ready to deal with the next recession or crisis.

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Sterling lunge before inflation data rekindles 'leak' concerns 18 Jul 2017

LONDON A sharp fall in sterling just before June UK inflation data on Tuesday reignited concern among financial traders that official economic data is seen by some market players ahead of release time, despite restrictions on official access to the numbers.

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UK inflation surprises with slowdown, easing pressure on Bank of England 18 Jul 2017

LONDON British inflation unexpectedly slowed last month for the first time since October, dousing expectations among investors that the Bank of England might soon raise interest rates for the first time in a decade. | Video

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BoE to hold rates along bumpy road to Brexit - Reuters poll 18 Jul 2017

LONDON Above-target inflation won't push the Bank of England to tighten monetary policy this year or next as it waits to see if wage increases catch up with price rises and how divorce talks with the European Union pan out, a Reuters poll found.

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