Kingfisher Faces Profit Woes Amid French Market Struggles as UK Flourishes on 'Improve Not Move' Trend
The company's stock saw a sharp decline of six per cent, marking it as the top faller on the FTSE 100. The underlying issue, as Kingfisher explained, stemmed from ongoing weaknesses in their French market.
Retail Sales Are At An All Time Low Since Lockdown, According to Reports
Due to the dramatic increase in prices across the UK, retail sale volumes are the lowest that they have ever been since 2021.
UK Government Prepares Crunch Budget With Eyes On Next Election
Britain's Conservative government this week unveils a budget update that could determine its chances of re-election -- or the size of its defeat -- with promises to reinvigorate the economy as the party lags badly in the polls.
UK Rental Market Suffers Record Price Rise
UK housing rental prices spiked by a record rate with London hit particularly hard, official data showed Wednesday, stoking a cost-of-living crisis as inflation remains elevated despite a sharp slowdown.
UK Inflation Falls Sharply, Relieving Pressure On PM Sunak
UK inflation hit the lowest level in two years last month after consumer prices fell sharper than expected on easing energy bills, official data showed Wednesday, relieving a cost-of-living crisis and pressure on embattled Prime Minister Rishi Sunak.
UK Inflation Plunges to Lowest Figure in 2023 At 4.6% as Sunak on Track to Meet Annual Target
In September, inflation stood at 6.7 per cent, as many people across the UK continue to struggle with the cost-of-living crisis.
Nationwide's Competitive Two-Year Fixed-Rate Mortgage Signals Positive Shift in Property Market
Mortgage brokers have hailed Nationwide's decision as a "watershed moment", anticipating a revitalisation of the property market and instilling hope among borrowers.
UK Housing Market Poised for Recovery as Savills Forecasts Bottoming Out in 2024
Savills, a fancy estate agency, says that the worst might be over, and house prices are expected to stop falling by next summer.
October UK Retail Sales Drop Triggering Recession Worry in the UK Economy
UK retail sales growth declined in October as UK consumers are cautious of spending and saving for Christmas amidst the cost-of-living crisis which has sparked a recession for the UK economy.
Bank of England Holds Interest Rates At 5.25% for Second Time
Nine members of the Monetary Policy Committee (MPC) voted 6-3 in favour of maintaining the current rate, in a move that was widely anticipated.
Stocks Soar, Dollar Slumps As Markets Eye End To US Rate Hikes
Stock markets and oil prices jumped while the dollar slid Thursday after the Federal Reserve hinted it was at an end of its rate-tightening cycle as inflation retreats.
Oil Slumps On Easing Fears Of Mideast Regional War
World oil prices sank Monday as traders hoped a region-wide conflict could still be avoided and Israel said its forces killed dozens of Hamas militants in clashes in Gaza.
HSBC Expresses Concerns About UK's Economic Outlook Despite a 240% Rise in Profits
HSBC, headquartered in London but primarily focused on the Asian market, announced pre-tax profits of $7.7 billion (£6.4 billion) for the third quarter spanning from July to September.
Recent Data Reveals House Prices Fall in Largest Slump Since 2009
Data from Zoopla shows there has been a 23 per cent reduction in housing sales so far this year compared to the same time last year.
Santander's Profits Soar 20% But Cautions Borrowers Of The Impending Impact Of High-For-Longer Interest Rates
Santander's profits rose by 20 per cent achieving an attributable profit of €8,143 million in the first nine months of 2023, but warn borrowers of the Impending impact of high-for-longer interest rates.
UK Economy at Risk of Recession as Business Activity Declines and Cost Pressures Ease
The preliminary reading of the S&P Global UK PMI for the services sector, often referred to as the "flash" PMI, fell to 49.2 in October from 49.3 in September.
UK Businesses 'Stuck in Reverse' in October, According to Recent Survey
The figures are worrying reading, as the Bank of England (BoE) prepares for its latest interest rate decision next week.
UK Inflation Resists Expected Slowdown in September Amid Rising Oil Prices
CPI reported a year-on-year increase of 6.7 per cent, maintaining the same pace as the previous month, contrary to economists' predictions of a dip to 6.6 per cent.
Average Pay Growth Rises Above Inflation for the First Time in Almost Two Years
The figures show that between June and August of this year, wages rose at an annual rate of 7.8 per cent, higher than average inflation over the same three months.
Chief Secretary John Glen Hosts AI Meeting to Boost Public Sector Productivity
John Glen emphasised the potential of artificial intelligence to enhance public services while saving taxpayers' money, illustrating how AI can revolutionise the public sector and increase productivity without breaking the bank.
Economic Challenges Mount as UK Retail Sales Slow Amid Rising Inflation and Global Uncertainties
The latest sales-monitor report from the British Retail Consortium has revealed a slowdown in retail sales growth in the UK for September. Despite a fall in inflation, the high cost of living continues to place pressure on households' budgets.
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Labour Strikes a Confident Note in Liverpool Despite the News of Turmoil in the Middle East
Rachel Reeves was in the limelight in Liverpool, described as the would-be "first female Chancellor ever in Britain", and also the "best qualified".
Keir Starmer promises 'decade of national renewal' in Labour speech
Starmer claimed the government was exploiting the country's problems rather than solving them, and appealed to disillusioned Conservative voters to join Labour.
Labour Party Conference Enters Third Day; Starmer to Speak Following Hamas Attacks in Israel
The meeting comes with the centre-left party enjoying double-digit leads in most opinion polls and seemingly on the cusp of returning to power.
UK Businesses Still 'Reluctant to Invest' Over Brexit and Interest Rates
Business investment in the UK increased in the first six months of 2023, but the growth was partly due to exceptional factors such as investment in new planes and a tax break. Businesses are now expecting inflation to be lower than previously forecast, which could reduce the pressure on the Bank of England to raise interest rates.
Labour Defeat SNP to Secure 'Seismic' By-Election Victory in Rutherglen and Hamilton West
For Labour, the by-election represented an important battleground ahead of the next UK general election, with the Labour leader Sir Keir Starmer declaring it a "seismic" night and that people in Rutherglen and Hamilton West had sent "a clear message".
Metro Bank Reassures Investors After Its Share Price Plummets Amidst Shoring Up Their Finances
On Thursday, Metro Bank issued a statement to reassure investors after the short suspension of their shares due to volatility amidst suffering a hefty 25 per cent fall.
General Election "Not What the Country Wants" Says Rishi Sunak
Batting away concerns about his authority, Sunak insisted he was "just getting on" with the job and "delivering" on his long-term policy plans.
Conservative Party Conference Overshadowed by HS2 Rumours
Chairman Jeremy Hunt has already signed off on "reallocating" money from HS2's northern leg to other transport projects, according to reports.