||Last Updated: Oct 9, 2015 - 12:32 AM
The number of jobless in the UK dipped by 77,000 to a five-year low of 2.24m in the three months to February 2014 and there were 320,000 less unemployed than a year earlier, to official figures published Wednesday show.
Apr 16, 2014 - 4:42 PM
Markets news on stocks, currencies and commodities: UK annual consumer inflation dips to 1.6%.
Apr 15, 2014 - 4:36 PM
Iain Mansfield, a 30-year old member of the diplomatic service based at the British embassy in Manila, on Tuesday evening was announced as the winner of the €100,000 IEA Brexit Prize - - “Openness not Isolation” - - a blueprint for a possible exit of Britain from the European Union.
Apr 9, 2014 - 12:56 PM
UK 2008-2013: From Q1 2008 to Q4 2013, all the net additional employment in Britain of 613,000 was in self-employment and part-time roles.
Apr 9, 2014 - 8:18 AM
The upturn in the global manufacturing sector lost some traction at the end of the first quarter of 2014. At 52.4 in March, down from 53.2 in February, the J.P.Morgan Global Manufacturing PMI (purchasing managers' index) - - a composite index produced by JPMorgan and Markit in association with ISM (US Institute of Supply Management) and IFPSM (International Federation of Purchasing and Supply Management) - - fell to a five-month low, but remained above its average for the current 16-month sequence of expansion.
Apr 2, 2014 - 7:56 AM
UK economic growth slowed in March to an eight-month low after hitting record levels in February, according to the latest CBI Growth Indicator, which is produced by the Confederation of British Industry.
Mar 27, 2014 - 4:55 AM
UK inflation fell to its lowest for over four years in February, reducing the squeeze on the cost of living while at the same time enabling to Bank of England to keep interest rates low for longer. The big uncertainty for the outlook for inflation lies with wages and salaries, which are finally starting to show signs of rising. The question is whether they will rise enough to worry policymakers into tightening policy sooner than currently envisaged.
Mar 26, 2014 - 2:51 AM
Tax Avoidance/ Evasion: On Wednesday George Osborne, UK chancellor, proposed new rules in his Budget 2014 statement to reduce the opportunities for rich individuals and companies to avoid or evade personal and corporate taxes. Also this week, two prominent US senators wrote to the Justice Department to seek extradition of about 30 Swiss bankers and others who are charged with enabling offshore tax evasion and have not appeared in federal courts.
Mar 21, 2014 - 7:18 AM
George Osborne, UK chancellor, today delivered his Budget Statement to Parliament, setting out how the government will take further action "to secure the recovery and build a resilient economy." He said the economy is now growing faster than predicted and expectations for growth this year and next have also been revised up by the Office for Budget Responsibility (OBR) – to 2.7% in 2014 and 2.3% in 2015. A record number of people are in work and the OBR now expects employment to reach 31.4m by 2018. A deficit that reached 11% of GDP in 2009-10 is now forecast to fallen by half to 5.5% in the coming year and will be eradicated by 2018-19. . Meanwhile, also Wednesday
the Office for National Statistics reported that employment was up 105,000
from August to October 2013 and up 459,000 on the year to 30.19m for November
2013 to January 2014.
Mar 19, 2014 - 3:49 PM
Jobless numbers in the UK fell by 125,000 to 2.34m in the three months to December 2013, according to the latest estimates. The rate of unemployment was at 7.2%.
Feb 19, 2014 - 12:08 PM
The UK's annual inflation rate, as measured by the consumer prices index, dropped to 1.9% in January -- the fall below the Bank of England's 2% target was the first time in more than four years.
Feb 18, 2014 - 2:17 PM
The British and Dutch governments have filed a claim of up to £5.3bn against Iceland's deposit insurance fund over money that savers in the UK and the Netherlands were compensated for when the Icesave online bank collapsed in 2008.
Feb 11, 2014 - 7:57 AM
Corporate Tax 2014: The UK's corporate tax revenues plunged in 2013 as big companies paid more in social security (national insurance contributions) than taxes on profits for the first time. Meanwhile, France is mulling business tax reforms and the government has been given a study on how to reduce tax evasion by digital economy companies.
Jan 30, 2014 - 9:53 AM
The UK economy grew by 1.9% in 2013, its strongest rate since 2007, according to the Office for National Statistics (ONS) today. GDP (gross domestic product) increased by 0.7% in the fourth quarter of 2013.
Jan 28, 2014 - 12:54 PM
The UK unemployment rate has fallen to 7.1%, just above the level at which the Bank of England has said it will consider raising interest rates. The jobless fall was the biggest since 1997.
Jan 22, 2014 - 3:27 PM
Three of the UK's biggest retailers had grim news on Christmas trading today with Morrisons, the supermarket chain, issuing an unscheduled profit warning while Tesco and Marks & Spencer posted worse-than-expected sales in what has turned out to be a Black Thursday. Meanwhile, Aldi and Lidl, the German retailers, celebrated a bumper Christmas in the UK.
Jan 9, 2014 - 9:38 AM
As the recovery takes hold, it's important that all citizens benefit with growth properly balanced across the UK, John Cridland, CBI director-general, said today in his New Year message.
Dec 30, 2013 - 9:23 AM
The UK economy is growing faster than previously estimated, according to the latest official figures. The Office for National Statistics (ONS) said today that gross domestic product was up 0.8% in the July-to-September period compared with the previous quarter, confirming its previous estimate.However, it revised its growth figures for earlier quarters.
Dec 20, 2013 - 11:23 AM
The UK unemployment rate has fallen to its lowest level since 2009, official figures show. At 7.4%, this is the lowest rate since the February-to-April period in 2009, the Office for National Statistics (ONS) said today.
Dec 18, 2013 - 4:14 PM
UK wage rises failed to keep pace with inflation for a fifth straight year, according to data issued on Thursday but the gap is closing.
Dec 13, 2013 - 3:36 AM
George Osborne, UK chancellor of the exchequer, today forecast that Britain will run a budget surplus by 2018 for the first time this century as he declared in his Autumn Statement that “Britain’s economic plan is working.” The chancellor also highlighted that the job was not yet done and promised more “difficult decisions” to repair the public finances.
Dec 5, 2013 - 4:18 PM
Growth in the UK’s manufacturing sector was the
strongest for 18 years according to the latest Confederation of British
Industry's (CBI) monthly industrial trends survey. Both the size of total order
books and the pace of output growth over the past three months were the highest
recorded since 1995, showing the recovery in UK manufacturing is accelerating.
Nov 21, 2013 - 2:42 PM
The Bank of England Wednesday said the UK's economy is set to grow faster than it had expected in August, but stressed that a subdued outlook for inflation means it is still unlikely to raise interest rates soon. Releasing its latest quarterly forecasts, the BOE said the unemployment rate may fall to 7% much earlier than it had previously thought, an indication that it could consider raising its benchmark interest rate earlier than anticipated. Also on Wednesday, the UK unemployment rate was reported at 7.6%, down from 7.8%.
Nov 13, 2013 - 4:13 PM
De Nederlandsche Bank (DNB), the Dutch central bank, together with the US Department of Justice and the Commodity Futures Trading Commission, the UK Financial Conduct Authority and the Japanese Financial Services Agency have conducted investigations and have fined Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank), the former farmers' cooperative bank, €774m ($1bn; £662m) over the Libor interest rate-fixing scandal.
Oct 29, 2013 - 3:54 PM
The UK economy grew at the fastest rate in more than three years during the third quarter, official data showed Friday, signalling that the recovery this year is accelerating.
Oct 25, 2013 - 11:07 AM
A feature of the UK economy in recent years has been a plunge in labour productivity, and a rise in employment, suggesting that the UK needs far more workers to produce fewer goods than before the crisis. However, it was claimed on Tuesday that some of the new jobs may be old ones.
Oct 23, 2013 - 3:19 AM
In September 2013 the volume of UK retail sales rose by 2.2% compared with September 2012 and by 0.6% compared with August 2013. With three month-on-three month growth rates increasing for seven consecutive months these estimates show an underlying trend of growth in the retail industry.
Oct 17, 2013 - 4:19 PM
The number of unemployed in the UK dropped by 18,000 to 2.49m in the June-August period, official figures issued today show. The number at work hit a record high.
Oct 16, 2013 - 4:32 PM
A UK recovery could cut public borrowing by £45bn in coming years according to a report published today by the Ernst & Young Item Club.
Oct 14, 2013 - 4:22 AM
UK industrial production for August dipped 1.1% in the month, abruptly ending a series of positive data on the British economy in recent months while in Germany, output rebounded after a dip in July.
Oct 10, 2013 - 3:58 AM
The UK economy grew by 0.7% in the second quarter of 2013, the Office for National Statistics (ONS) confirmed on Thursday.
Sep 26, 2013 - 1:40 PM
UK job prospects for the final quarter of 2013 are the strongest since 2007, with finance and business services leading the way, a study has found.
Sep 10, 2013 - 8:12 AM
Business activity in the UK service sector grew to its highest level since 2007 and confidence rose strongly, according to the CBI’s quarterly Service Sector Survey.
Aug 28, 2013 - 8:45 AM
UK gross domestic product (GDP) in volume terms was estimated to have increased by 0.7% between Q1 2013 and Q2 2013, revised up by 0.1 percentage points from the previously published estimate.
Aug 23, 2013 - 12:02 PM
The CBI has raised its UK growth forecasts for 2013 and 2014 as the recovery begins to gather some short-term momentum. But the rebalancing away from consumption towards investment and trade is taking longer than expected.
Aug 19, 2013 - 7:47 AM
Northern Ireland business activity in July rose to the highest level since 2007, aided by the recent heatwave and a surge in activity in England and Scotland according to regional PMI (purchasing managers' index) data.
Aug 12, 2013 - 7:20 AM
The G-8 (Group of Eight - - 7 leading industrialised nations; US, Japan, Germany, UK, France Canada, Italy plus Russia) have agreed on proposals to tackle tax avoidance and evasion that call for new laws to stop businesses from shifting profits across borders, urge greater transparency about company ownership and sharing of information.
Jun 19, 2013 - 8:23 AM
Senior bankers guilty of reckless misconduct should be jailed, a report on banking commissioned by the UK government, has recommended.
Jun 19, 2013 - 7:01 AM
Tom Hayes, a former trader at UBS and Citigroup, has today been charged with offences of conspiracy to defraud in connection with the investigation by the Serious Fraud Office into the manipulation of LIBOR.
Jun 18, 2013 - 4:20 PM
G-8: Barack Obama, the US president and European leaders on Monday launched talks on “the biggest bilateral trade deal in history,” at the G-8 summit in Lough Erne, Northern Ireland. The president announced that talks on a transatlantic trade and investment deal would begin in Washington next month. While EU leaders admit the negotiations will be “difficult,” they believe they can be finalised within two years. Meanwhile, a study shows that the US has the most to gain from a comprehensive agreement and the rest of the world would lose the most.
Jun 18, 2013 - 8:11 AM