News And Announcements
Don't even try taking a train next week, says Network Rail
Don’t travel by train unless you absolutely need to, was the advice given on Wednesday ahead of record-large railway strikes next week, with around half of all routes set to be shuttered on three separate days.
Global oil demand to reach fresh highs in 2023 - IEA
Global demand for oil is forecast to reach fresh highs next year, according to the rich world's oil watchdog , although supply could struggle to keep up.
Eurozone trade deficit widens
The Eurozone’s trade deficit widened in April, official data showed on Wednesday, as industrial output came in below expectations.
ECB to hold emergency meeting
The European Central Bank is to hold a rare unscheduled meeting on Wednesday to discuss the turmoil on Europe’s bond markets.
Lockdowns dent Chinese retail sales
Retail sales in China continued to fall last month, data showed on Wednesday, as the effects of Beijing’s strict zero-Covid policy weighed on consumption.
Opec leaves global oil demand forecast unchanged
Opec left its forecasts for world oil demand unchanged on Tuesday, but warned that the global economy was "fraught" with uncertainty.
UK govt slammed for hitting brakes on electric car grant
The UK government has been severely criticised for axing a £1,500 grant for motorists towards the cost buying an electric car.
Thousands of rail workers to vote on further strike action
Thousands more railway workers are to vote on possible industrial action, it was confirmed on Tuesday, further compounding fears the UK is facing a summer of severe travel disruption.
Go-Ahead agrees £648m takeover by Kinetic, Globalvia; Kelsian still interested
Transport operator Go-Ahead has accepted a £647. 7m takeover offer from Australian bus firm Kinetic and Spanish infrastructure investor Globalvia Inversiones, but a takeover battle could emerge after Kelsian said it was still interested.
UK unemployment rate ticks higher; wages fall
The UK unemployment rate unexpectedly rose in the three months to April for the first time in a year, while vacancies remained at record levels and wages fell at the fastest rate in a decade.
Competition regulator to review soaring forecourt prices
The Competition & Markets Authority has agreed to investigate the road fuel market, after petrol and diesel prices hit fresh highs.
CMA secures 'commitments' after concerns over P&O-DFDS deal
The Competition and Markets Authority has secured an “offer of commitments” from two of Britain’s largest ferry operators, after concerns were raised over their capacity sharing agreement.
CBI slashes UK growth forecasts
The Confederation of British Industry slashed its growth forecasts for the British economy on Monday, and warned that the country was now at risk of recession.
UK GDP unexpectedly shrinks in April
The UK economy unexpectedly contracted in April, at the sharpest pace in more than a year, amid higher prices and supply chain issues.
Sunak 'wasted £11bn' on debt repayments says UK think tank
UK finance minister Rishi Sunak "wasted" £11bn in taxpayer cash to pay interest on government debt, a think tank said on Friday.
Inflation expectations accelerate in latest BoE survey
Inflation expectations continued to accelerate in the Bank of England’s latest inflation attitudes survey, it was revealed on Friday, as actual prices continued to rise at historically-high rates.
More than three in four Brits worried about rising prices
More than three-quarters of Britons are concerned about the rising cost of living, according to official survey data released on Friday, with 77% of adults feeling “very” or “somewhat” worried about red-hot inflation.
Germany's central bank slashes economic growth forecasts
Germany’s central bank cut its economic growth forecasts for the country on Friday, as the war in Ukraine and red-hot inflation impacted the post-Covid recovery.
Consumer inflation unchanged in China, producer price growth slows
Consumer price inflation was unchanged in China in May, according to fresh official data released on Friday, while producer price growth slowed in line with expectations.
Cost to fill average petrol tank tops £100
The average cost of filling a family car with petrol has hit £100 for the first time in history, with the RAC declaring it "a truly dark day" for British motorists.