News And Announcements
Gazprom UK being primed for 'special administration'
The government is making plans to take over the running of Gazprom’s UK retail division, it was reported on Tuesday, as the Russian state-backed energy giant faces increasing pressure over the invasion of Ukraine.
UK government borrowing falls in February
UK government borrowing fell in February, according to figures released on Tuesday by the Office for National Statistics.
UK retail footfall up last week as warmer weather arrives
UK retail footfall rose 2. 3% last week compared with the previous seven days as shoppers took advantage of warmer weather to make spontaneous trips to stores, industry data revealed on Monday.
UK house asking prices make biggest jump since 2004 - Rightmove
Asking prices for UK homes increased at their highest rate in almost two decades as demand vastly outstripped supply and despite soaring inflation, according to property website Rightmove.
P&O sacks hundreds of staff, cancels all ferries for 'next few days'
Hundreds of crewmembers at one of Britain’s largest ferry operators have been sacked, as P&O Ferries cancelled sailings for “several days” and warned on its viability.
BoE hikes rates to 0.75%, strikes more dovish tone
The Bank of England hiked interest rates as expected on Thursday by 25 basis points and struck a more dovish tone as it warned inflation could exceed 8% this year.
Russia says it has ordered bond payments as it looks to avoid default
Russia has reportedly sent an order to make $117m interest payments on two dollar bonds that were due on Wednesday, as it looks to avoid default.
Russia faces historic default as sanctions bite
Russia is poised to default on its debts for the first time since the 1990s, it was reported on Wednesday, as economic and financial sanctions began to bite.
IEA says oil price spike, Russia sanctions to hit global growth
Global economic growth is expected to be hit by a combination of rising commodity prices, a lack of supply from Russia and sanctions on Moscow, the International Energy Agency (IEA) said on Wednesday.
Empire State manufacturing index falls to lowest since May 2020
Manufacturing activity in the New York region declined in March for the first time since early in the Covid-19 pandemic, according to a survey released on Tuesday .
Eurozone industrial output flat in subdued start to 2022
Growth in industrial production was flat in the Eurozone in January, official data released on Tuesday showed.
West tightens sanctions against Russia
The US, UK and European Union have tightened sanctions on Russia, including a ban on the export of luxury goods and increased import tariffs.
German investor sentiment suffers record drop in March - ZEW
German investor sentiment suffered its biggest ever drop in March as the Russia-Ukraine conflict and sanctions on Russia weighed, according to a survey released on Tuesday by the ZEW Center for European Economic Research in Mannheim.
UK unemployment falls but wages struggle
UK unemployment has fallen to pre-pandemic levels, but wages are struggling to keep up with soaring inflation, official data showed on Tuesday.
Suits removed, sports bras added to ONS basket of goods
The formal suit is out, and the likes of sports bras and dog collars are in, as the rise of home working continues to have an effect on the UK’s official ‘basket of goods’ used to measure inflation.
Oil prices soften amid hopes for Russia-Ukraine peace talks
Oil prices dipped on Monday as traders clung to hopes that peace talks between Russia and Ukraine would make headway.
Manufacturers still raising prices as inflationary pressures continue
Manufacturers are continuing to raise both UK and export prices at record levels, a survey revealed on Monday, amid escalating inflationary pressures across the board which showed little sign of abating.
UK companies poised to hike prices - survey
British companies expect to put up prices at an "unprecedented" pace this year, according to a business survey published on Monday.
Potential Chelsea FC buyers asked to approach government
Potential buyers of Chelsea Football Club have been told they can approach the government with proposals, after its operations were essentially put on ice by the sanctioning of oligarch owner Roman Abramovich.
ECB's Rehn says rate changes will come 'gradually'
The European Central Bank's key interest rates will be adjusted gradually when they begin to change, said ECB policymaker and Finnish central bank chief Olli Rehn.