Economic News
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Minimum wage increase 'would boost public finances by £5.6bn a year'
Raising minimum wage rates to £10 per hour for workers over the age of 18 would boost the public finances by an estimated £5. 6bn a year says new study from Landman economics for UK trade union Unite.
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London mayor accuses 'hard Brexit zealots' of ignoring economic evidence
London's mayor Sadiq Khan has criticised Brexit-supporters in the government of putting an “ideological obsession” ahead of Britain's interests.
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Qatar-backed venture gets approval for Elephant & Castle scheme
A venture backed by Qatar’s sovereign wealth fund has been given the go-ahead for a contentious project to build almost 1,000 homes in London’s Elephant and Castle district.
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Electoral Commission accuses Vote Leave of breaking campaign spending rules
The Electoral Commission has found Vote Leave, the pro-Brexit campaign backed by foreign secretary Boris Johnson and Conservative front-bencher Michael Gove, broke legal spending limits during the Brexit referendum.
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Danske Bank shares down 3% after alleged $8.3bn laundering accusations
Danske Bank shares were down 3% after reports that its Estonian operations were allegedly used to launder as much as $8. 3bn, double previous estimates.
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Shop prices fall more slowly in June, BRC survey shows
Shop prices fell more slowly in June but the pace of decline is likely to pick up again, a survey showed.
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May pleads with EU leaders not to dismiss her Brexit plan
Theresa May is begging EU leaders to give her strategy a chance as she prepares to present a softer form of Brexit to her anti-EU cabinet members.
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Retailers call for high street restructure, with sales tax to replace business rates
Retailers urged the government to urgently review business rates and set a sales tax on digital retail giants such as Amazon to save the UK's high streets.
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Eurozone business picks up but uncertainty clouds outlook
Business activity in the euro-zone rose slightly more in June than previously believed as growth of output and new business speeded up.
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UK services growth accelerates, improving odds on August rate hike
Activity in the UK dominant services industry improved much more than expected last month, suggesting the British economy grew 0. 4% in the second quarter of the year and raising the chances that the Bank of England will hike interest rates in August.