UK consumer confidence highest since Feb 2022 as 'green shoots' emerge: GfK
British consumers were their most upbeat in more than a year this month, despite the surging cost of living, as they took a more positive view of their finances and the health of the wider economy, market research firm GfK said on Friday.
Cost of living crisis fuelling rise in cybercrimes, new research shows
Over a third of the organisations across the UK's critical national infrastructure (CNI) anticipate a rise in cybercrime as a direct result of the current economic crisis.
UK records western Europe's highest inflation as March fall disappoints
Britain was the only country in western Europe with double-digit inflation in March after it fell less than expected, official data showed on Wednesday, bolstering bets that the Bank of England will raise interest rates again in May.
Dollar rebounds on higher expectations for Fed hike in May
Against a basket of currencies, the U.S. dollar index rose 0.15% to 101.82, standing some distance away from Friday's one-year low of 100.78.
Inflation bites into profits of UK supermarket Tesco
In a bid to retain customers, Tesco is matching the prices of similar goods offered by UK supermarkets run by German discounters Aldi and Lidl.
How is the UK's rising inflation impacting the cost of living crisis?
The Office for National Statistics reported that the "prices of food and non-alcoholic drinks rose at the fastest rate in more than 45 years in the 12 months to February 2023."
Core inflation persists in Europe despite decreases in headline inflation
European inflation presents a mixed bag, with eases in inflation when energy and food prices are included in measures, but persistence when excluded.
Food inflation hits 15% as experts say retailers must focus on price differentiation
Food inflation has risen by 15 per cent in a year, as prices in Britain's shops reach unprecedented levels. Experts say retailers must focus on their price differentiation strategy as consumers' purse strings "continue to feel the squeeze".
UK shoppers turn to discount stores and second-hand shops amid cost of living crisis
UK retail sales rose in February as consumers' confidence reached a one-year high while US market struggles amid banking moves and monetary tightening.
UK inflation sucker-punches the BoE, while sterling bulls cheer
Bank of England policymakers will not have looked at Wednesday's inflation data with the same enthusiasm as sterling traders, who took advantage of a shock jump to push the pound up, confident that a rate hike this week is now a done deal.
UK inflation surprise pressures BoE to raise rates again
British inflation unexpectedly rose to 10.4% in February, pushed up by higher food and drink prices in pubs and restaurants, according to official data which is likely to prompt the Bank of England to raise interest rates on Thursday.
Pakistan in Economic Purgatory: The Way Out Depends on Human Development
Although it is in the headlines for political turmoil, Pakistan is facing its worst-ever financial crisis. Even officials have uttered the taboo word: Default?
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Inflation scare over? The case for and against sticky inflation
Two years after inflation began its rapid ascent, investors, economists and policymakers remain divided on the path ahead.
Valentine's Day spending boosts British retail sales in February - BRC
Valentine's Day helped to boost British retail sales in February but volumes remained down on last year as households cut back on non-essential items, a survey published on Tuesday showed.
European shares slip on sticky inflation fears, but still end Feb higher
European shares fell on Tuesday, with UK's Ocado sinking after a worse-than-expected full-year loss, while data from France and Spain pointed to inflation being stickier than feared.
Ukraine's economy stabilizes after shock of war
When Russia invaded Ukraine a year ago, the shelves of the Novus supermarket chain in Kyiv quickly emptied as its supply chains - domestic and overseas - collapsed.
Ukraine War Anniversary: Asian companies show half-hearted response in scaling back operations in Russia
As the Russia Ukraine war, the biggest war in Europe since World War II, enters its second year, many Asian companies still continue their operations in Russia.
Earthquake will keep Turkish inflation above 40%, additional budget needed - official
Turkey's devastating earthquake will keep inflation above 40% in the run-up to elections scheduled for June and will necessitate an additional budget, a government official and four economists said.
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.
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.
European stocks steady, dollar up tracking rates outlook
Europe's main stock markets steadied Monday after record highs for London and Paris last week as investors bet on prospects for a brighter economy despite lingering recession risks caused by high inflation.
Aussie supermarkets set to capitalise on high inflation, but softer demand ahead
Australian supermarkets will reap bigger profits in fiscal 2023 half-year due to decades-high inflation and increased savings, but analysts warned of a rough second-half as households reel from mounting expenses due to higher cost of living.
Earthquake sends tremors through Turkey's fragile economy
Earthquake sends tremors through Turkey's fragile economy
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 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.
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.
BP posts record profit, dilutes green target
BP on Tuesday also said its carbon emissions would not fall as quickly as anticipated.