Economy

 

BoE's Shafik sees "encouraging" signs in UK labour market data

MANCHESTER, England - Bank of England Deputy Governor Minouche Shafik said on Friday she saw "encouraging" signs from wage and labour market data, and that the causes of Britain's plunging inflation rate were not expected to last long.

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UK public finances improve more than expected in boost for Osborne 22 May 2015

LONDON - Britain's public sector budget deficit narrowed more than expected in April, giving Chancellor George Osborne a boost as he renews his push to fix the country's public finances.

Nationwide predicts higher house prices as profits rise 22 May 2015

LONDON - Nationwide's Chief Executive Graham Beale said he expected Britain's housing market to be stronger this year after the UK's second-biggest provider of home loans reported a 32 percent rise in full-year profit.

BoE's Weale eyes bigger inflation impact from oil price fall 22 May 2015

LONDON - The past year's sharp oil price fall may have a longer-lasting effect on British inflation than the Bank of England assumes, but the central bank would be wise to look through such one-off effects, a BoE policymaker said on Thursday.

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UK retail sales surge as sun brings out shoppers 21 May 2015

LONDON - British retail sales surged in April as consumers took advantage of falling prices and unusually warm weather encouraged shoppers to buy new clothes.

UK factory orders slow in May, outlook still upbeat - CBI 21 May 2015

LONDON - British factory orders slowed to their lowest level in seven months in May but manufacturers remained optimistic about the short-term outlook, the CBI's monthly industrial trends survey showed on Thursday.

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Osborne warns that EU is sleepwalking out of global economy 21 May 2015

LONDON - The European Union risks pricing itself out of the global economy by excessive regulation, Chancellor George Osborne said on Wednesday, making the case for reforms in the bloc ahead of a referendum on whether Britain remains a member.

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UK finance study says harsh rules would crimp EU growth 21 May 2015

LONDON - Banning some trading activities and taxing stock and bond transactions would cut the contribution of the European Union's financial sector to jobs and growth significantly, a study published by the City of London said on Thursday.

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UK pay awards stuck at 2 percent, no pick-up seen this year 21 May 2015

LONDON - British companies are keeping a lid on pay deals despite the recovery in the country's economy, and are likely to remain cautious throughout 2015, according to a survey published on Thursday.

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Bank of England rate-setters vote 9-0 to keep rates on hold, echo recent views 20 May 2015

LONDON - The views of Bank of England policymakers appeared little changed in May when they voted unanimously to keep interest rates on hold.

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