Economy

 

'Black Friday' discounts lift UK retail sales growth to 10-year high

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LONDON - British retail sales surged at their fastest annual rate in more than a decade last month, as U.S.-style "Black Friday" discounts drove record sales growth at electrical and department stores.

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Royal Mail sale could have raised extra 180 million pounds - official report 12:31pm GMT

LONDON - The privatisation of Britain's Royal Mail could have raised an extra 180 million pounds, according to a government-commissioned report that largely endorsed the cautious approach by ministers in the 2-billion-pound sale.

UK car production seen flat in 2014 as November exports weaken 7:48am GMT

LONDON - British car production will remain flat in 2014, an industry body said on Thursday, as a drop in exports due to weak foreign demand saw output fall in November.

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UK earnings recovery might not help Cameron much before election 7:17am GMT

LONDON - The wages of British workers are rising and inflation is tumbling, but a turnaround in living standards may prove to be too little, too late for Prime Minister David Cameron as a general election approaches.

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UK households' optimism over finances hits six-year high 17 Dec 2014

LONDON - British households were more optimistic in December about their financial prospects in the coming 12 months than at any point in the last six years, a monthly survey showed on Wednesday.

Bank of England policymakers see oil price fall lowering short-term inflation 17 Dec 2014

LONDON - Bank of England policymakers focused heavily on falling oil prices in their December meeting, and the majority who have been voting to keep interest rates on hold appeared slightly more united.

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UK inflation falls sharply in November to 12-year low 16 Dec 2014

LONDON - British inflation fell unexpectedly to its lowest level in more than 12 years in November, further easing a squeeze on consumers and leaving the Bank of England under no pressure to raise interest rates soon.

Plunging oil prices could boost geopolitical tensions - BoE report 16 Dec 2014

LONDON - Plunging oil prices could heighten geopolitical tensions, trigger defaults by U.S. shale oil and gas firms and destabilise euro zone inflation expectations, the Bank of England warned on Tuesday.

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UK government seeks to lock in budget goals as election nears 16 Dec 2014

NEW YORK/POOLE, England - Britain's government promised on Monday to put its ambitious budget targets on a more formal footing, in a largely political move by Conservative Chancellor George Osborne to embarrass the Labour party.

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Eyeing 2015 election, Cameron unveils new house buying scheme 15 Dec 2014

LONDON - Tens of thousands of young Britons will be offered the chance to buy their first home with a hefty discount by Prime Minister David Cameron on Monday, a scheme he hopes will boost his re-election chances for May next year.

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