News And Announcements
Citi downgrades US equities, upgrades China
Citi downgraded its stance on US equities on Tuesday to ‘neutral’ from ‘overweight’ as it made changes to equities and credit in its global asset allocation, in line with its view "that US exceptionalism is at least pausing".
Car finance lenders told to brace for redress scheme
The financial regulator is considering introducing an industry-wide redress scheme for customers left out of pocket by historic car finance mis-selling, it confirmed on Tuesday.
UK retail sales growth slows as rising costs loom
Retail sales growth slowed again in February as poor fashion sales weighed down non-food spend, according to data out on Tuesday from the British Retail Consortium and KPMG.
UK companies still pausing on hiring due to 'subdued' market - survey
UK companies are still pausing hiring plan due to a "subdued" economic outlook and rising payroll costs, according to a survey published on Monday.
House prices unexpectedly dip in February - Halifax
UK house prices unexpectedly dipped in February, according to data released on Friday by mortgage lender Halifax.
Retail traffic edges higher but pace of growth slows - BRC
Retail footfall nudged higher in February, industry research published on Friday showed, although at a far slower rate than seen in January.
Barclays to pay compensation over three-day IT outage
Barclays expects to pay out up to £7. 5m in compensation, it emerged on Thursday, after an IT outage left customers without access to online banking for three days.
Eurozone retail sales continue to struggle
Retail sales fell in the Eurozone in January, official data showed on Thursday, as the European economy struggled to gain momentum.
UK construction sector activity falls to lowest in nearly five years
Activity in the UK construction sector fell to its lowest level in February in nearly five years, according to a survey released on Thursday.
Eurozone construction sector contracts sharply - PMI
The Eurozone’s troubled construction sector contracted sharply in February, a closely-watched survey showed on Thursday.
US private sector adds fewer jobs than expected in February
Private sector employment in the US rose less than expected in February, according to data released on Wednesday by ADP.
China braces for trade war as it eyes ambitious GDP growth
Beijing has unveiled ambitious economic growth targets for 2025, as it braces for an intensifying trade war with Washington.
Job shedding accelerates across UK service sector - PMI
Job cutting across the UK service sector accelerated in February, a closely-watched survey showed on Wednesday, as firms reacted to subdued demand and rising costs.
China services sector continues to expand in February
Activity in China’s services sector continued to expand in February, signalling a sustained recovery, according to a survey released on Wednesday.
China, Canada retaliate with tariffs on US as trade war kicks off
The first salvoes in the Donald Trump-inspired trade war were fired on Tuesday as China and Canada unveiled retaliatory measures against the US after the president went ahead with his tariffs against his immediate neighbours overnight.
UK shop prices down on last year, but inflation pressures on the rise
Shop prices were lower in February when compared with last year, as cheaper non-food items offset the impact of costlier food products, but inflation is expected to pick up over the course of 2025.
Private sector activity outlook bleak as volumes fall again, says CBI
Private sector firms in the UK saw another decline in activity over the past three months, with all sectors reporting falls in business volumes, according to a survey from the Confederation of British Industry (CBI).
UK mortgage borrowing hits 28-month high
The total amount borrowed for UK mortgages reached its highest in more than two years in January, while consumer credit levels hit a one-year high, according to data out on Monday from the Bank of England.
Crypto prices surge as Trump outlines plans for US reserve
Cryptocurrency prices surged into Monday morning, after US president Donald Trump announced that Bitcoin, Ethereum, XRP, Solana,and Cardano would be included in a proposed US strategic crypto reserve.
UK manufacturing downturns deepens in February
The downturn in the UK’s manufacturing sector deepened in February, with firms cutting staff at the steepest pace since May 2020, according to a survey released on Monday.