News And Announcements
Turkey central bank holds rates at 50%
Turkey’s central bank kept interest rates unchanged at 50% on Thursday for the second month in a row, as expected.
UK manufacturing sector rebounds in May - PMI
The UK’s under-pressure manufacturing sector rebounded in May, a closely-watched survey showed on Thursday.
Eurozone economic recovery gathers pace in May
The economic recovery in the eurozone gathered pace in May, according to preliminary figures released on Thursday.
China hints at tariff hikes for large car imports
China could raise import tariffs on large combustion engine cars, it was reported on Wednesday, weighing on the share price of European auto makers.
UK house prices push higher
House prices edged higher in March, government data showed on Wednesday, as the UK market continued to recover.
Public sector borrowing jumps in April - ONS
Public borrowing soared by more than expected in April, official data showed on Wednesday, on the back of lower National Insurance receipts.
Ofcom fines BT £2.8m for knowingly breaching contract info rules
Ofcom announced on Wednesday that it has fined BT Group £2. 8m, for failing to provide more than one million customers with clear and essential contract information before signing up for services with its subsidiaries EE and Plusnet.
UK consumer price inflation falls to 2.3% in April
Consumer price inflation fell less than expected in April, according to figures released on Wednesday by the Office for National Statistics, dashing hopes of a summer rate cut.
M&S FY profits, sales jump as turnaround efforts bear fruit
Marks & Spencer posted a jump in full-year sales and profits on Wednesday as the retailer’s turnaround efforts bore fruit.
Manufacturing output volumes rise for first time since Nov 2022 - CBI
Output volumes in the UK manufacturing sector rose in the three months to May for the first time since November 2022, according to the latest Industrial Trends survey from the Confederation of British Industry.
Regulator probes lack of competition to Visa, Mastercard
The Payment Systems Regulator (PSR) said in an interim report on Tuesday that Mastercard and Visa, the UK’s two dominant payment card schemes, did not face effective competition in the supply of scheme and processing services to acquirers.
IMF upgrades UK growth forecast, warns against tax cuts
The International Monetary Fund (IMF) revised its growth forecast for the UK economy on Tuesday, projecting a “soft landing” with a faster-than-expected recovery following last year's mild recession.
UK grocery price inflation eases to lowest since October 2021 - Kantar
UK grocery price inflation fell for the fifteenth month in a row in the four weeks to 12 May, to 2. 4%, its lowest level since October 2021, according to data released on Tuesday by Kantar.
BoE's Broadbent says interest rate cut 'possible' in summer
Bank of England deputy governor Ben Broadbent said on Monday that it was "possible" that interest rates could be cut this summer.
UK house prices hit record high in May - Rightmove
The average UK house price hit a new record of £375,131 in May, driven by pent-up demand and momentum from the Spring selling season, according to data released on Monday by Rightmove.
Eurozone inflation to fall faster than forecast - EU
Eurozone inflation is set to fall faster than initially expected this year, the European Commission forecast on Wednesday.
Eurozone GDP edges higher in first quarter
Eurozone economic growth ticked higher in the first quarter of 2024, official data showed on Wednesday.
IEA cuts forecasts for oil demand in 2024
The International Energy Agency (IEA) has slashed its oil demand forecast for 2024 as a result of poor industrial activity and mild winter temperatures, which have sapped gasoil consumption so far this year.
Investor morale hits two-year high in Germany
German investor sentiment kicked higher in May, a closely-watched survey showed on Tuesday, reaching a two-year high.
Biden administration to hike tariffs on $18bn of Chinese goods
The Biden administration announced significant tariff increases on $18bn worth of Chinese imports overnight on Monday, targeting sectors such as electric vehicles (EVs), solar panels, steel, aluminium, and more.