Business News Headlines

UK banks forced to re-open 2.5 million insurance mis-selling cases

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LONDON - Britain's financial regulator said banks and other financial services companies had agreed to re-open two and a half million loan insurance mis-selling complaints from 2012 and 2013 to make sure fair compensation was paid.

11:26am BST

FTSE edges higher, stronger drugmakers outpace weak retailers

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LONDON - Britain's top share index edged higher in cautious trading on Friday, with stronger pharmaceutical stocks on renewed merger and acquisition talks outpacing weaker retailers after another profit warning by Tesco.

FXpert 12:00pm BST

Tesco slashes profit forecast and dividend as trading slumps

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LONDON - Britain's biggest retailer Tesco slashed its interim dividend by 75 percent as tough trading conditions forced it to cut its profit forecast for the second time in two months. | Video

12:41pm BST

Big-spending Britons drive economy, but housing picture mixed

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LONDON - Big-spending Britons powered the economy in August as they became more confident about the recovery and their finances, though mixed house price data suggested the outlook for the property market was less clear-cut.

UK, 11:28am BST

Disappearing euro zone inflation set to heighten ECB concerns

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BRUSSELS/FRANKFURT - Euro zone inflation dropped to a fresh five-year low in August, data showed on Friday, something likely to concern the European Central Bank but not force it into immediate policy action.

12:08pm BST

UK house prices surge unexpectedly in August - Nationwide

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LONDON - British house prices rose during August at a much faster monthly pace than expected, according to a survey on Friday that contrasted with other signs of cooling in the housing market.

9:17am BST

Italy's triple-dip recession confirmed, deflation looms

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ROME - Italy's economy contracted in the second quarter as a drop in investments dragged the country back into recession, with falling consumer prices suggesting it also risked being sucked into a deflationary spiral.

12:19pm BST

Analysis - Draghi dials R for Reform. Line is busy

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FRANKFURT - Two years ago, euro zone government leaders hung on Mario Draghi's every word. Now the European Central Bank chief is struggling to get through to them. What has happened to 'Super Mario's' mojo?

10:48am BST

McDonald's says 12 Russian branches temporarily closed

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MOSCOW - McDonald's said on Friday that a total of 12 of its branches in Russia had been temporarily closed over the state food safety regulator's allegations of sanitary violations.

12:36pm BST

UK cancels release of preliminary business investment data

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LONDON - Britain's statistics agency did not release preliminary business investment data previously scheduled for Friday, saying it needed extra time to prepare for methodological changes required under new European Union rules.

11:17am BST
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UK’s strong GDP has a soft centre

The headline - 0.8 percent second-quarter growth - sounds good. But construction shrank and industrial production was weak. Only services were strong. It sounds like a warning of future problems. Expectations of a UK interest rate rise may be delayed, leading the pound down.