News And Announcements
Thames Water in crisis as investors pull £500m bailout
Struggling UK utility Thames Water faced a funding crisis on Thursday as shareholders pulled a £500m bailout after regulators refused its demands to hit customers with massive price hikes, greater leniency for polluting waterways and pay out higher dividends, while its parent company also admitted it couldn't pay back a £190m loan.
Data confirms UK fell into recession last year
The UK economy fell into recession in the second half of last year, according to final figures released on Thursday by the Office for National Statistics.
Yen reaches weakest levels in 34 years
The Japanese yen plunged to its weakest level against the US dollar in about 34 years on Wednesday.
UK grocery inflation falls to 4.5% but shoppers still struggling - Kantar
Almost a quarter of UK households see themselves as struggling financially despite a 4. 5% fall in grocery price inflation, according to survey data published on Tuesday.
Markets pricing too many UK rate cuts, says Catherine Mann
Bank of England policy maker Catherine Mann said on Tuesday that financial markets are pricing in too many interest rate cuts this year and that it’s unlikely the UK will move before the Federal Reserve.
UK retail sales rise a little in March - CBI
UK retail sales rose a little in the year to March, according to a survey released on Monday.
Ofgem looking into more 'dynamic' energy price cap
Ofgem announced a consultation to refine the energy price cap on Monday, ibn a bid to ensure ongoing customer protection amidst the evolving energy market landscape.
Manufacturers optimistic despite slide in output - CBI
British manufacturers expect conditions to pick up in the coming months, a closely-watched survey showed on Friday, despite reporting another slide in output volumes.
Expectations for a rate cut this year 'not unreasonable' - Bailey
Expectations of interest rate cuts this year are "not unreasonable", the governor of the Bank of England has said.
German business sentiment improves in March - Ifo
German business sentiment improved in March, according to a survey released on Friday by the Ifo Institute.
UK retail sales flat in February but ahead of expectations
UK retail sales were flat in February as wet weather dented spending in stores, according to figures released on Friday by the Office for National Statistics.
UK consumer confidence stalls - GfK
UK consumer confidence stalled in March, a long-running survey showed on Friday.
Bank of England leaves rates unchanged at 5.25%
The Bank of England left interest rates on hold on Thursday, as widely expected.
Turkish central bank lifts interest rates to 50%
The Turkish central bank announced on Thursday that it was lifting its policy rate to 50% from 45% in a surprise move.
Swiss National Bank cuts rates in surprise move
The Swiss National Bank surprised markets on Thursday after it trimmed interest rates for the first time in nearly a decade.
'Glimmer of hope' for Eurozone economy as PMIs edge higher
Business activity across the Eurozone showed early signs of stabilising in March, according to closely-watched research published on Thursday.
UK private sector continues to grow in March
UK service sector output continued to grow in March, albeit at a slower pace, according to a survey released on Thursday, suggesting the economy has likely moved out of recession.
UK public sector borrowing drops in February
Public-sector borrowing in the UK dropped significantly in February and was down year-on-year for the fourth straight month, according to figures released on Thursday by the Office for National Statistics.
Tube drivers announce two 24-hour strikes
London Underground drivers belonging to the Aslef union will walk out in April and May, it was announced on Wednesday.
UK house market shows further signs of stabilising
UK house prices dipped only marginally in January, official data showed on Wednesday, providing more hope that the market was stabilising.