News And Announcements
UK shop prices fall but hikes are coming, warns BRC
UK shop prices slipped in March as retailers held back from hiking rates, according to data out on Tuesday from the British Retail Consortium (BRC), which warned of rising cost pressures for the industry over the coming months.
PRA looking to raise deposit protection limit to £110,000
The Prudential Regulation Authority is proposing to lift the deposit protection limit by £35,000, the first change to its guarantee in eight years.
UK mortgage approvals fall more than expected
The number of mortgage approvals for house purchases in the UK fell for the second straight month in February, while consumer credit borrowing slipped, according to data out on Monday from the Bank of England.
Airline stocks down as Heathrow boss warns power supply upgrade could cost £1bn
London-listed airline stocks were on the descent on Friday after Heathrow's boss warned that the cost of upgrading the airport to a new power system could cost upwards of £1bn, with airlines having to foot the bill through landing charges.
Thames Water finance chief stepping down
Thames Water’s chief financial officer Alastair Cochran will leave the company at the end of March, it was announced on Friday, marking a significant leadership change as the debt-laden utility pushed ahead with efforts to stabilise its finances.
Economic sentiment weakens across the Eurozone
Economic sentiment and consumer confidence across Europe weakened unexpectedly in March, official research showed on Friday.
Gold prices hit fresh high on trade turmoil
Gold prices hit fresh highs on Friday, as the latest round of trade tariffs imposed by Donald Trump reignited fears of a global trade war.
UK economy performed better than expected in 2024 - ONS
The UK economy grew more strongly than initially thought last year, official data showed on Friday.
UK retail sales beat forecasts - ONS
UK retail sales jumped in February, official data showed on Friday, comfortably beating expectations.
UK car production falls for 12th straight month in February
UK car production fell for a 12th consecutive month in February, according to the Society for Motor Manufacturers and Traders, which also said Rachel Reeves' Spring statement did nothing to alleviate the pressure on manufacturers.
Norway leaves rates unchanged after inflation picks up
Norway’s central bank kept interest rates at a 17-year high on Thursday, as widely expected, following an uptick in inflation.
Chancellor confirms spending cuts as OBR trims growth forecasts
The chancellor confirmed cuts to welfare spending on Wednesday while pledging to turn the UK into a "defence industrial superpower", in a spring statement designed to ensure the government's fiscal targets would still be met.
House prices, rents push higher across the UK - ONS
House prices and private rents across the UK continued to push higher as 2025 got underway, official data showed on Wednesday.
UK inflation eases to 2.8% in February
UK inflation eased a little more than expected in February as clothing prices fell, according to figures released on Wednesday by the Office for National Statistics.
Retail sales slump in March amid weak consumer confidence - CBI
UK retail sales slumped in March amid weak consumer confidence, according to the Confederation of British Industry’s latest ‘distributive trades’ survey.
German business sentiment improves in March - Ifo
German business sentiment improved in March, according to a survey released on Tuesday by the Ifo Institute.
UK private sector output growth hits six-month high
Output growth in the UK private sector hit a six-month high in March, thanks to a rebound in the services sector, according to a survey released on Monday.
Heathrow had enough power capacity during outage - National Grid CEO
National Grid’s chief executive said over the weekend Heathrow Airport had sufficient electrical capacity to remain operational during Friday’s fire-related power outage, intensifying questions over the airport’s decision to close for nearly 18 hours.
Heathrow to resume limited flights after fire causes power cut
London’s Heathrow airport said some operations would resume on Friday after a fire at a local electricity substation overnight caused a power outage, hitting more than 1,300 flights and disrupting air travel globally.
IATA criticises Heathrow over possible 'planning failure'
The airline industry trade body has attacked Heathrow management for what appeared to be a "clear planning failure" in not having a sufficient backup power source after a fire at a local electricity substation causing an outage and closed the airport.