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News : UK Economy Last Updated: Oct 9, 2015 - 12:32 AM

News : UK Economy
UK unemployment fell by 5,000 in the 3 months to April 2013 according to the Office for National Statistics today. There were 29.76m people in employment, up 432,000 on a year ago.
Jun 12, 2013 - 3:36 PM

News : UK Economy
UK services sector activity rose at an accelerated rate during May as new business increased at the sharpest pace for over three years. Amid evidence of marginal capacity pressures and with positive expectations for the coming year, companies added to their payroll numbers for the fifth consecutive month.
Jun 5, 2013 - 12:22 PM

News : UK Economy
David Cameron, British prime minister, has called a meeting this month ahead of the G-8 summit, with the senior ministers of 10 British tax havens, known as Crown Dependencies and Overseas Territories, in London to force them to tackle the huge tax evasion industry by signing up to agreements to share tax information.
Jun 5, 2013 - 9:49 AM

News : UK Economy
The Bank of England has upgraded its economic growth forecast and said that inflation should fall faster than previously predicted. In his last inflation report as the Bank's governor, Sir Mervyn King said inflation should drop to its target of 2% within two years. Separate figures today showed UK unemployment rose by 15,000 in the first three months of the year to 2.52m but the number of people claiming Jobseeker's Allowance fell by 7,300 last month to 1.52m, the figures from the Office for National Statistics (ONS) showed.
May 15, 2013 - 3:16 PM

News : UK Economy
The UK economy has avoided falling back into recession. GDP (gross domestic product)  increased by 0.3% in Q1 2013 compared with Q4 2012. GDP was 0.4% higher in Q1 2013 than in Q3 2011 and therefore has been broadly flat over the last 18 months according to the Office for National Statistics today.
Apr 25, 2013 - 11:33 AM

News : UK Economy
UK retail sales in March were 0.7% lower than in February mainly due to bad weather, according to the Office for National Statistics (ONS).
Apr 18, 2013 - 1:06 PM

News : UK Economy
There was further evidence that the UK may avoid an unprecedented triple-dip as data showed factory output rose in February. However, trade figures were worse-than-expected.
Apr 9, 2013 - 1:19 PM

News : UK Economy
The UK economy shrank in the final quarter of 2012 in line with previous estimates and industrial production posted its biggest quarterly drop since early 2009, official data has shown.
Mar 27, 2013 - 4:09 PM

News : UK Economy
George Osborne, UK chancellor of the exchequer, today cut the official growth forecast in half, but insisted the UK would avoid a "triple dip" recession. In his Budget 2013 speech, he said the growth forecast in 2013 from the independent Office for Budget Responsibility would be 0.6% - - half the 1.2% that was predicted four months ago in the autumn statement.
Mar 20, 2013 - 3:09 PM

News : UK Economy
UK unemployment rose by 7,000 to 2.52 million between November and January, according to official figures. Employment was up 590,000 on a year earlier while real pay levels fell.
Mar 20, 2013 - 12:06 PM

News : UK Economy
UK industrial production fell sharply in January, official figures showed Tuesday, raising fears that the country will have its third recession in not much more than four years.
Mar 12, 2013 - 1:24 PM

News : UK Economy
The UK economy grew by more than previously thought in 2012, official figures have shown. The Office for National Statistics (ONS) revised its growth estimate [pdf] for the year up from no growth to 0.2%.
Feb 27, 2013 - 3:25 PM

News : UK Economy
UK retailers saw sales volumes continue to strengthen on a year ago in the first half of February, although the pace of growth slowed once again, the CBI said today. Meanwhile, business fell across the service sector over the last three months. The Confederation of British Industry is the UK's biggest business lobbying organisation.
Feb 26, 2013 - 3:55 PM

News : UK Economy
UK unemployment fell in the three months to December 2012, while the number of people in work jumped to a new record. The real value of earnings fell.
Feb 20, 2013 - 2:37 PM

News : UK Economy
As the UK leads a campaign for action against corporate tax avoidance and seriously trims the sails of domestic offshore tax havens, it has overtaken low-tax rivals such as Ireland, Luxembourg and Switzerland, to become big multinationals’ favourite tax regime.
Feb 20, 2013 - 8:27 AM

News : UK Economy
News that Switzerland (Jan 2013) and Ireland (Dec 2012) have both decided to extend their reduced VAT rates on tourism and entertainment services will leave the UK industry struggling with one of the highest tax charges in Europe, according to a UK business services group.
Feb 15, 2013 - 7:26 AM

News : UK Economy
UK GDP (gross domestic product) is estimated to have fallen by 0.3% in the fourth quarter of 2012. The Office for National Statistics (ONS) today said that the largest contribution to the decrease came from the production sector, mainly due to a drop in mining and quarrying, after maintenance delays at the UK's largest North Sea oil field.. A small downward contribution from the services sector was partially offset by a small upward contribution from the construction sector.
Jan 25, 2013 - 11:19 AM

News : UK Economy
The pace of UK retail sales growth slowed in the year to January, according to the CBI’s first monthly Distributive Trades Survey of 2013 - -  the Confederation of British Industry is the UK's main business lobbying group.
Jan 24, 2013 - 12:16 PM

News : UK Economy
Blockbuster, the movie rental firm, collapsed into administration on Wednesday, putting more than 4,000 jobs in peril as another high street retailer in the UK fell to online competition. Its demise has been termed another company that failed "to adapt to the changing retail conditions," by a leading internet entrepreneur.
Jan 17, 2013 - 6:56 AM

News : UK Economy
The festive season has lost some of its sparkle for retailers, with growth in sales on the UK high street slowing in December, the CBI said today.
Dec 19, 2012 - 1:10 PM

News : UK Economy
While it was reported on Wednesday that UK employment hit a record in the three months to October, other data shows that the number of underemployed workers in the UK i.e. those who want to work more hours, has risen by an estimated 1m (or 47.3%) since the start of the economic downturn in 2008 to stand at 3.05m in 2012. Nearly two thirds of the 1m increase took place in the 12 months between 2008 and 2009, when the economy was in recession. From 2000 to just before the 2008/09 recession the number of people underemployed was relatively steady and since 2009 the number has been rising, although at a much slower rate than during the recession. Almost two-thirds of the underemployed were part-timers. Most new jobs growth since 2010 has been at the top and bottom of the economic pyramid.
Dec 13, 2012 - 6:56 AM

News : UK Economy
UK employment rose to its highest level since records began in 1971 in the three months to October.
Dec 12, 2012 - 3:48 PM

News : UK Economy
Today the UK Serious Fraud Office (SFO), with the assistance of the City of London Police, executed search warrants at three residential premises in Surrey (1) and Essex (2).  Three men, aged 33, 41 and 47, have been arrested and taken to a London police station for interview in connection with the investigation into the manipulation of LIBOR.  The men are all British nationals currently living in the United Kingdom.
Dec 11, 2012 - 3:20 PM

News : UK Economy
Starbucks, the US coffee chain, announced at the weekend that it is in discussions with the UK Revenue & Customers about paying more tax.
Dec 3, 2012 - 4:45 AM

News : UK Economy
Coinciding with the appearance of UK-based executives Google, Amazon and Starbucks at a House of Commons public accounts committee today to face questions from MPs on their corporate tax strategies, which enables them to pay very low or no taxes, UK Uncut, an activist group which targets tax avoidance, today announced a national day of action targeting Starbucks coffee stores in protest against the government's spending cuts that are hurting women.
Nov 12, 2012 - 8:13 AM

News : UK Economy
The Eurozone manufacturing downturn accelerated towards the end of October as domestic market conditions remained subdued and intra and extra-Eurozone trade flows deteriorated further. At 45.4 in October, from 46.1 in September, the headline seasonally adjusted Markit Final Eurozone Manufacturing PMI (Purchasing Managers' Index) was slightly above the earlier flash estimate of 45.3.
Nov 2, 2012 - 10:44 AM

News : UK Economy
UK retailers reported a strong rise in sales volumes in the year to October and expect that growth will continue at a similar pace next month, the CBI (Confederation of British Industry) said today.
Oct 30, 2012 - 1:56 PM

News : UK Economy
The UK economy returned to growth in the third quarter 2012, with help from the Olympic Games. The economy expanded by 1.0%, according to gross domestic product figures (GDP), which were released Thursday.
Oct 25, 2012 - 11:04 AM

News : UK Economy
UK manufacturing orders fell in the three months to October, while output was flat, the CBI, Britain's leading business lobby group, said today.
Oct 24, 2012 - 3:52 PM

News : UK Economy
Starbucks, the global coffee brand, has been identified as another US multinational that is avoiding/ evading UK corporate taxes or paying very low levels.
Oct 16, 2012 - 2:12 PM

News : UK Economy
UK retail sales fell during in August as people cut shopping to watch the Olympics, data released today show.
Sep 20, 2012 - 3:55 PM

News : UK Economy
UK industrial production jumped in July by the most in 25 years as manufacturing rebounded from the long holiday weekend for the Queen’s Jubilee. Germany's production rose more than expected in July, reversing a decline in June.
Sep 7, 2012 - 4:37 PM

News : UK Economy
UK retail sales values were down by 0.4% on a like-for-like basis from August 2011, when they were down 0.6% on the preceding year. On a total basis, sales were up 1.6%, against a 1.5% rise in August 2011. Excluding the Easter anomaly, these were both the lowest since November 2011, driven by particularly weak non-food sales as the feelgood factor from the Olympics failed to inspire spending, according to the lobby group, the British Retail Consortium.
Sep 4, 2012 - 7:55 AM

News : UK Economy
UK gross domestic product (GDP) in volume terms fell by 0.5% in the second quarter of 2012, revised from the previously estimated 0.7% decline according to the Office for National Statistics (ONS).
Aug 24, 2012 - 3:44 PM

News : UK Economy
Sales on the UK high street were flat in August compared to a year ago, broadly in line with retailers’ expectations, but sentiment about the business situation deteriorated sharply according to the CBI, Britain's principal business lobbying organisation.
Aug 23, 2012 - 4:12 PM

News : UK Economy
UK manufacturers reported a deterioration in both their total and export order books in August, while expectations for output growth have flattened, the CBI, Britain's principal business lobbying group, said today. Meanwhile, the Office for National Statistics reported that borrowing to cover the deficit between spending and revenue was £600m in July. The ONS said [pdf] that there was a surplus of £2.8bn in the same month a year earlier.
Aug 21, 2012 - 3:55 PM

News : UK Economy
UK retail sales rose unexpectedly in July and June sales were also revised upwards, triggering speculation that the UK’s double-dip recession has been overstated.
Aug 16, 2012 - 1:52 PM

News : UK Economy
The number of jobless people in the UK  fell by 46,000 to 2.56m in the three months to June 2012, according to the Office for National Statistics (ONS) today. The unemployment rate fell to 8.0% in the period, down from 8.2% in the previous quarter.
Aug 15, 2012 - 2:59 PM

News : UK Economy
UK GDP (gross domestic product) growth will be zero in 2012, the Bank of England forecast to day.
Aug 8, 2012 - 2:21 PM

News : UK Economy

Standard Chartered Bank, the UK-headquartered bank that mainly operates in Asia, the Middle East and Africa, on Tuesday rejected the New York state's financial regulator's description of it as a “rogue institution” for allegedly breaching sanctions on Iran, describing any transgressions as “small clerical errors.” However, the banks rejection of the order of New York state’s Department of Financial Services (DFS), which was issued on Monday, failed to convince investors.

Aug 8, 2012 - 8:23 AM

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