Interest rate rose but so did the demand for steel as the British pound fell against the dollar
S&P 500 sheds 2%, FTSE 100 is expected to open lower, while the UK has seen the British pound fall against the dollar as the government negotiates with the striking public sector.
UK house prices fall by most since 2012, mortgage approvals drop
British house prices last month dropped by the most in more than 10 years, mortgage lender Nationwide said on Wednesday, adding to signs of a slowdown in the housing market in the face of high inflation and rising borrowing costs.
British factories more optimistic as threat of deep recession eases - PMI
British factory activity contracted last month at the slowest pace since July and 60% of manufacturers expect output to rise in the coming 12 months, reflecting cooling inflation pressure, a survey showed on Wednesday.
Asia stocks feel rate pain, dollar on a roll
Asian shares slipped on Monday as markets were forced to price in ever-loftier peaks for U.S.
Dollar advances as traders consider higher-for-longer rates view
The dollar was on the front foot on Monday, hovering near a seven-week peak.
Analysis: Competition hots up as British banks fight to keep earnings rising faster than costs
British banks face a tougher battle for mortgage customers and business borrowers in 2023, as rising costs and deposit rates paid to long-suffering savers threaten to outpace flatlining profit margins, senior industry executives and analysts said.
UK wages at 32-year high even as labour market fears possible recession
Despite an economic slowdown widely expected to morph into a recession later this year, the labour market remains tight, with upward pressure on wages.
Lloyds faces housing market chill as profit growth stalls
Britain's Lloyds Banking Group signalled that falling house prices, competition on savings and rising costs may crimp future returns after reporting flat profit growth for 2022.
UK pay settlements hit 6%, highest since 1991: XpertHR
British employers offered the biggest annual pay rises in 32 years during the three months to the end of January, but these increases are still a long way behind double-digit inflation, industry data showed on Wednesday.
UK economy shows unexpected pep in February -PMI
Britain looks on course to sidestep a forecast recession as businesses reported an unexpected bounce in activity this month as well as receding price pressures, according to a survey on Tuesday.
UK's Hunt gets a pre-budget boost with surprise January surplus
Britain's government ran an unexpected budget surplus in January thanks to strong income tax receipts, giving finance minister Jeremy Hunt a little more leeway as he prepares to deliver a budget statement next month.
Inflation in the UK has fallen - yet food prices have not
United Kingdom inflation eased to 10.1% in January 2023 and eased the pressure on the Bank of England. Many retailers, however, need to maintain higher product prices.
UK property asking prices show weakest February gain on record: Rightmove
Average asking prices for British residential property rose by just 14 pounds ($17) in February from January, the smallest rise on record for a month which normally sees a big seasonal increase, data from property website Rightmove showed on Monday.
UK bank NatWest posts bumper profits but shares tank
British bank NatWest on Friday posted a jump in annual profits as it trimmed costs and the sector benefitted from rising interest rates.
UK consumers bought more in Jan but overall gloom persists
British consumers unexpectedly increased their shopping in January, but the big picture remains one of weak demand from inflation-hit households relying more on discounts at retailers to make ends meet.
UK economy in crisis, as the Chancellor urges missing workforce to return
Latest figures from the ONS reveal zero GDP growth in Q4 2022. A labour shortage is part of the problem, with the Chancellor urging people to return to work.
Stocks rise as data tempers recession worries
Stocks rose on Thursday as recent economic data from around the world fed hopes that the global economy might not face as hard a landing as feared a few months ago, even as interest rates threaten to remain higher for longer than expected.
Dollar eases as investors price out 'Armageddon recession' risk
The dollar eased on Thursday as investors scooped up higher-risk currencies after a run of strong U.S.
Global stocks rise after strong US retail sales, better UK inflation data
That's still a high level of inflation, but the pound's retreat reflected a shift for the foreign exchange market.
Stock markets diverge as traders react to inflation numbers
Europe stock markets climbed Wednesday after Asian counterparts finished lower, with traders digesting news of cooler UK and US inflation.
UK inflation retreats further, remains above 10%
British annual inflation dropped further last month on easing transport costs, official data showed Wednesday, but remains above 10 percent, prolonging a cost-of-living crisis that has sparked massive strikes.
Slowdown in UK inflation eases pressure on Bank of England
British inflation fell by more than expected in January and there were signs of cooling price pressure in parts of the economy watched closely by the Bank of England, adding to signs that further hefty interest rate hikes are unlikely.
Analysis-The deep freeze over UK assets is thawing
Britain's stocks and bonds are drawing strong buying interest, not quite a vote of confidence in the economy but a reassuring sign for policymakers that a deep investment freeze in British markets prompted by last year's upheaval has thawed.
Bank of England to lift bank rate 25 basis points to 4.25% in March, then pause: Reuters poll
The Bank of England will make its final increase to borrowing costs in the current cycle next month to combat double-digit inflation, according to a Reuters poll which showed the British economy is almost certainly entering a recession.
Britain sets out legislation to regulate buy-now-pay-later credit
Britain on Tuesday will set out draft legislation to regulate "buy now pay later" credit, saying the sector posed potential harm to consumers without thorough affordability checks.
European equities rise on hopes of inflation slowdown
European stock markets rose Monday as investors set aside Asian losses and forecast easing inflation in Britain and the United States, dealers said.
Thousands of university workers will strike again over wages, reveals UNISON
"Not only are staff struggling but students feel the effects when universities are short-staffed," said UNISON head of education Mike Short.
UK firms plan biggest pay rises since 2012 to fill staff gaps
British employers expect to raise wages for their staff by the most in at least 11 years but the 5% pay deals for workers would still fall well below expected inflation, a survey published on Monday showed.
UK economy shows zero Q4 growth, narrowly avoids recession
Britain's economy showed zero growth in the final three months of 2022 - enough for it to avoid entering a recession for now - but faces tough prospects in 2023 as households continue to wrestle with double-digit inflation.
US stocks fall again as British pound advances
UK inflation slowed to 10.5 percent in December -- still around 40-year highs and more than five times the BoE's official target level of two percent.