News And Announcements
US consumer confidence dips in May
US consumer confidence declined slightly in May amid worries about inflation, according to a survey released on Tuesday.
CMA to appoint Marcus Bokkerink as chair
The Competition and Markets Authority said on Tuesday that it will appoint former Boston Consulting Group partner appoint Marcus Bokkerink as its next chair.
Eurozone inflation hits record 8.1% in May
Eurozone inflation hit a record 8. 1% in May as energy prices surged, according to a flash estimate released on Tuesday by Destatis, adding pressure on the European Central Bank to hike rates.
Mortgage approvals fall while consumer credit rises in April
Fewer mortgages were approved in the UK in April, although net consumer credit increased, as the cost-of-living crisis began to hit household budgets and spending.
Economic activity slows further in China in May
Economic activity slowed further in China in May, according to fresh official data released on Tuesday, with measures for both the manufacturing and non-manufacturing sectors remaining in contraction territory.
Morrisons ordered to keep McColl's separate amid CMA probe
The Competition and Markets Authority announced on Monday that it is investigating the completed acquisition by Morrisons of the assets of the collapsed convenience retailer McColl’s.
Retail footfall set to rise 8% over Jubilee weekend
Retail footfall in the UK is expected to jump 8% across all destinations over the Platinum Jubilee bank holiday, according to retail consultancy Springboard.
Average UK house price tops £250,000 for the first time
Average UK house prices had topped £250,000 for the time in history after rising 8. 4% year-on-year in April, a slight cooling off from March's 9% clip.
Eurozone economic sentiment broadly stable in May
Eurozone economic sentiment was little changed in May, according to a survey released on Monday by the European Commission.
China's industrial profits fall sharply in April amid lockdowns
China’s industrial profits fell sharply in April as Covid lockdowns took their toll, according to data released on Friday by the National Bureau of Statistics.
Sunak unveils £5bn windfall tax on energy firms
The Chancellor of the Exchequer has announced a £15bn package of measures intended to help households with the soaring cost of living, including a windfall tax on energy companies.
CMA opens fresh probe into Google's ad practices
The Competition and Markets Authority is investigating whether Alphabet division Google has broken the law by restricting competition in the digital advertising technology market, it announced on Thursday.
Treasury to unveil emergency aid to tackle soaring energy bills
The Chancellor Rishi Sunak is poised to unveil a £10bn package of emergency support to help households struggling with soaring energy bills, it was reported on Thursday.
German economy nudges higher as sentiment steadies
The German economy strengthened marginally in the first quarter, official data showed on Wednesday.
Retail sales hold steady but outlook weakens - CBI
Retailers expect sales to soften in June, a survey showed on Tuesday, as high inflation and the weakening economic outlook weigh on consumers.
Energy price cap set to hit £2,800 in October - Ofgem chief
Energy bills are on course to rise by more than £800 in October, the head of Ofgem has warned politicians.
Grocery inflation hits 13-year high
Grocery inflation hit its highest level in 13 years in May, industry research showed on Tuesday, as the cost of living crisis continued to mount.
UK business activity slows sharply in May
Business activity in the UK slowed sharply in May as inflationary pressures and geopolitical uncertainty weighed on customer demand, according to a survey released on Tuesday.
Shares tumble as Treasury mulls windfall tax on electricity generators
Shares in electricity generators tumbled on Tuesday after it emerged that chancellor Rishi Sunak was considering imposing a windfall tax on excess profits.
UK government borrowing falls in April
UK government borrowing fell more than expected in April but remained above pre-Covid levels, according to figures released on Tuesday by the Office for National Statistics.