News And Announcements
Mortgage lenders to urge Kwarteng to extend guarantee scheme
Some of Britain’s largest mortgage lenders are set to implore chancellor Kwasi Kwarteng to extend a first-time buyer guarantee scheme, it was reported on Thursday.
UK construction sector returns to growth; business expectations hit 26-month low
The UK construction sector returned to growth in September, but business expectations hit a 26-month low, according to a survey released on Thursday.
Eurozone construction struggles as demand slows
The downturn in Eurozone construction continued at pace in September, a closely-watched survey showed on Thursday, as prices rose and the weakening economic outlook weighed on demand.
Fitch downgrades UK credit outlook after mini-budget
Fitch downgraded the UK’s credit outlook late on Wednesday, citing the government’s recently-announced mini-budget.
UK's Kwarteng to meet banks over pulled mortgage products - report
UK Finance Minister Kwasi Kwarteng will hold talks on Thursday with major lenders amid concerns about the impact of recent market turmoil on mortgage provision, Sky News reported citing unnamed sources.
US private sector adds more jobs than expected in September
The US private sector added more jobs than expected in September, according to the latest data from ADP.
Truss lays out vision for UK economy, defends tax cuts
Prime minister Liz Truss defended her government's plans to cuts taxes on Wednesday, insisting they were both "morally and economically" right.
UK retail footfall growth slows to 6.8% in September
Retail experts Springboard revealed on Wednesday that UK footfall growth had slowed in September as Britons continue to struggle with the current economic situation.
UK business activity drops in September
UK business activity fell in September to the lowest level since January 2021, when the country was in lockdown, according to a survey released on Wednesday.
UK new car sales rise in September
UK new car registrations rose for the second successive month of growth in September, according to industry data released on Wednesday.
Kwarteng insists fiscal plan still due on 23 November
Chancellor Kwasi Kwarteng said on Tuesday that his medium-term fiscal plan will be published on 23 November as planned.
Producer prices spark across the eurozone
Producer prices jumped in the eurozone in August, official data showed on Tuesday, as energy costs mounted.
UK shoppers poised to spend £4.4bn less this Christmas
Shoppers are set to cut festive spending by more than £4bn this Christmas, research published on Tuesday showed, as the cost of living crisis squeezes budgets.
Kwarteng to bring forward publication of debt-cutting plans - report
The chancellor Kwasi Kwarteng is to bring forward publication of his debt-cutting plans, it was reported on Tuesday, in his second U-turn in 48 hours.
Kim Kardashian fined $1.26m over crypto promotion
Reality TV figure Kim Kardashian has agreed to pay a $1. 26m (£1. 12m) fine for advertising the-now-virtually-worthless EthereumMax cryptocurrency on social media outlet Instagram.
Gas markets braced for uncertain winter, warns IEA
Gas markets are expected to remain under pressure well into 2023, the International Energy Authority warned on Monday, as Russia continues to cut supplies to Europe.
UK manufacturing sector falters as headwinds mount
The UK manufacturing sector continued to struggle last month, a closely-watched survey showed on Monday, with both orders and output falling.
Eurozone manufacturing contracts faster in September
Manufacturing activity in the euro area contracted at a faster cadence in September, according to fresh data released on Monday morning, as new orders slid.
Government U-turns on plans to abolish 45p tax rate
The chancellor has scrapped controversial plans to abolish the top rate of tax following days of market turmoil and increasingly vocal opposition across the Conservative party.