Business

UK inflation leaps to 10-year high, bolstering rate hike bets

LONDON (Reuters) -British inflation surged to a 10-year high last month as household energy bills rocketed, according to data on Wednesday that will bolster expectations that the Bank of England will raise interest rates next month.FILE PHOTO: People shop at market stalls, with skyscrapers of the CIty of London financial district seen behind, amid the […]

Business

UK employers plan only modest pay rises, easing BoE inflation worries

LONDON (Reuters) – British private-sector employers expect to raise staff pay by an average of 2.5% over the next 12 months, well below the likely rate of inflation, according to a survey that could ease worries at the Bank of England about the risk of a wage-price spiral.FILE PHOTO: A worker arrives at his office […]

Business

Britain has 10 days to save Christmas, warns retail industry amid lorry driver crisis

Significant disruption in the run-up to Christmas is inevitable unless more delivery drivers are found in the next 10 days, the retail industry has warned. The stark assessment by the British Retail Consortium (BRC) came as ministers were due to meet for urgent talks on how to tackle the current shortage of HGV operators, which […]

Business

Bank of England keeps interest rate unchanged at 0.1%

FILE PHOTO: A person stands outside the Bank of England in London, Britain, September 13, 2021. REUTERS/Hannah McKay/File PhotoLONDON (Reuters) – The Bank of England kept its main interest rate unchanged at 0.1% on Thursday and stuck to its 895 billion pound ($1.22 trillion) asset purchase target. Economists polled by Reuters had expected no change […]

Business

UK accounting watchdog plans to bolster audit firm governance

FILE PHOTO: A sign for Bank Street and high rise offices are seen in the financial district in Canary Wharf in London, Britain, October 21, 2010. REUTERS/Luke MacgregorLONDON (Reuters) -Britain’s accounting watchdog plans to strengthen “significantly” its audit firm governance code, it said on Thursday, after a number of issues around audits of UK firms […]

Business

Macron rolls out red carpet to JPMorgan, global CEOs in post-Brexit push

PARIS (Reuters) – President Emmanuel Macron will declare that Paris is back on the map of global finance on Tuesday when he inaugurates JPMorgan’s new trading hub in the French capital which he hopes will attract more bankers leaving post-Brexit Britain.FILE PHOTO: The logo of JPMorgan is seen in Los Angeles, California, United States, on […]

Economy

Work-from-home boom risks loss of 6 million UK professional jobs

LONDON (BLOOMBERG) – One in five jobs based in the UK could be outsourced to other countries in the wake of the coronavirus pandemic, threatening the loss of well-paid white collar employment. That’s according to the Tony Blair Institute for Global Change, which warned that 5.9 million “anywhere” workers – from graphic designers to software […]

World News

Israel, Britain mull 'green travel corridor' after vaccine success

JERUSALEM (REUTERS) – Israel and Britain are exploring the possibility of opening a “green travel corridor” between them, Israel’s Foreign Ministry said on Tuesday (April 20), citing the success of the two countries’ vaccination drives. The issue was discussed at a meeting between Foreign Minister Gabi Ashkenazi and British Cabinet Office Minister Michael Gove in […]

Business

Britain reviews core banking rules in light of Brexit

LONDON (REUTERS) – Britain on Tuesday (April 20) launched an independent review of capital and proprietary trading rules introduced following the global financial crisis more than a decade ago as it seeks to bolster the City of London’s global competitiveness after Brexit. Britain requires banks to “ring-fence” the retail arms of their operations to shield […]

Business

Philip's death latest hammer blow for the Queen

LONDON (AFP) – The death of husband Prince Philip is the latest and heaviest blow to hit Britain’s Queen Elizabeth II, with family disputes and scandal rocking the monarch as her record-breaking reign draws to a close. Here are the crises faced by the 94-year-old monarch in recent months. Prince Harry and wife Meghan quit […]