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Last Updated: Feb 7, 2012 - 8:23 AM |
News
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UK Economy
UK retail market in January was grim
UK retail sales values were down 0.3% on a like-for-like basis from January 2011, when sales had risen 2.3%, picking up after December 2010's snow disruption. On a total basis, sales were up 2.1%, against a 4.2% increase in January 2011. On both measures it was the second-worst January, after January 2010, since the survey began in 1995.
Feb 7, 2012 - 8:21 AM
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UK Economy
First UK retail sales growth for seven months but little cheer in December - - CBI
UK retail sales volumes grew in the year to December for the first time in seven months, though sales were considered poor for the time of year, the CBI said today.
Dec 20, 2011 - 12:03 PM
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UK Economy
Extensive discounting on the UK High Street failed to prevent retail sales falling in November
Extensive discounting on the UK High Street failed to prevent retail sales falling by 0.4% in November from the month before.
Dec 15, 2011 - 3:17 PM
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UK Economy
UK unemployed jumped to the highest level for 17 years in October
UK unemployed jumped to the highest level for 17 years in October, increasing pressure on David Cameron's government to soften austerity measures.
Dec 14, 2011 - 4:57 PM
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UK Economy
Bank of England says UK banks have significant refinancing needs; Manufacturing slumps again in November
The Bank of England said today that UK banks have significant refinancing needs. And while their direct exposures to the sovereign debt of the most vulnerable economies are limited, they have larger exposures to the private sectors of some weaker euro-area economies. They also have significant exposures to major European banking. Meanwhile UK manufacturing contracted in November for a second consecutive month.
Dec 1, 2011 - 2:57 PM
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UK Economy
Osborne to cap UK public pay rises to 1%; Public sector job losses to rise to 710,000 by 2017
George Osborne, the UK chancellor, in his Pre-Budget Statement today to the House of Commons, said that he will cap public sector pay increases to just 1% a year for 2 years to keep his austerity plan on track against a backdrop of weaker economic growth than had been expected. The number of public sector jobs set to be lost by 2017 has also been revised up from 400,000 to 710,000.
Nov 29, 2011 - 4:26 PM
News
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UK Economy
UK retailers shed jobs as high street sales continue to fall
UK high street sales volumes fell on a year ago in November, for the sixth consecutive month, with retailers expecting another decline in December, according to the CBI. Meanwhile, retailers are reducing their headcount at the fastest rate in two years.
Nov 28, 2011 - 3:06 PM
News
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UK Economy
UK and Germany confirmed third quarter GDP growth at 0.5%; UK manufacturers report slump in export orders
UK and Germany confirmed third quarter GDP (gross domestic product) growth at 0.5% in releases on second estimates today. Meanwhile, UK manufacturers reported a slump in export orders according to a survey from the CBI, the main UK employers' body.
Nov 24, 2011 - 1:19 PM
News
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UK Economy
UK retail sales unexpectedly rose in October
UK retail sales unexpectedly rose in October as stores offered discounts promotions to lure consumers in advance of Christmas.
Nov 17, 2011 - 2:56 PM
News
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UK Economy
Northern Rock sold to Virgin for £747m
Northern Rock, the UK bank that was saved from collapse by the British government in 2007, is being sold to Virgin Money for £747m, the government announced today.
Nov 17, 2011 - 1:50 PM
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UK Economy
UK's youth unemployment surges; Apprenticeship system ranks poorly with Austria, Denmark, Germany and Switzerland
The UK's youth unemployment (16-24) total was reported on Wednesday to have exceeded 1m and the government announced a boost to apprenticeships for young people and a review of apprenticeship standards. The UK record ranks poorly compared that in Austria, Denmark, Germany and Switzerland, where at least 40% of school-leavers enter three-year apprenticeships leading to a recognised qualification.
Nov 17, 2011 - 7:17 AM
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UK Economy
UK unemployment rose by 129,000 in the three months to September; Youth unemployment rose above 1m
UK unemployment rose by 129,000 in the three months to September to 2.62m, as youth unemployment rose above 1m.
Nov 16, 2011 - 12:30 PM
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UK Economy
UK economy continues to grow despite headwinds; Recovery slowest since 1918
The UK economy continued to grow in the 3 months ending October despite gathering headwinds. However, the UK is facing the slowest recovery since the end of the First World War in 1918.
Nov 9, 2011 - 6:13 AM
News
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UK Economy
UK's manufacturing output rose more than expected in September; Retail sales were flat in October
The UK's manufacturing output rose more than expected in September, official figures have revealed. Meanwhile, UK retail sales were flat in October, suggesting a “worrying” weakness in demand from shoppers as the economic recovery weakens, according to the British Retail Consortium.
Nov 8, 2011 - 3:34 PM
News
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UK Economy
UK economy grew a better than expected 0.5% in the third quarter of 2011
The UK economy grew a better than expected 0.5% in the third quarter of 2011, according to the Office for National Statistics (ONS) today.
Nov 1, 2011 - 12:59 PM
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UK Economy
UK manufacturers expect significant falls in activity over the next three months
Sentiment has deteriorated sharply among UK manufacturers, in anticipation of significant falls in activity over the next three months, the CBI, theprincipal British business lobby group, said today.
Oct 26, 2011 - 2:18 PM
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UK Economy
UK public sector job numbers fell by 290,000 in 18 months to second quarter of 2011
UK public sector job numbers fell by 290,000 people in the second quarter of 2011 compared with the Dec 2009 level. The latest tally likely well exceeds 300,000.
Oct 21, 2011 - 5:41 AM
News
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UK Economy
UK retail sales better than expected in September
UK retail sales rose by 0.6% in September, according to data published today by the Office for National Statistics (ONS). That was better than analysts had expected and more than offset a 0.4% dip in volumes in August.
Oct 20, 2011 - 3:17 PM
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UK Economy
UK consumer price index annual inflation rate jumped to 5.2% in September
The UK consumer price index (CPI) annual inflation rate jumped to 5.2% in September, up from 4.5% in August. CPI annual inflation has never been higher but was also 5.2% in September 2008.
Oct 18, 2011 - 11:21 AM
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UK Economy
Davy says UK GDP will be 0.7% in 2011 and 1.0% in 2012
Davy forecasts today that UK GDP (gross domestic product) growth will be 0.7% in 2011 and 1.0% in 2012.
Oct 18, 2011 - 8:27 AM
News
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UK Economy
UK recovery is the weakest of any since the end of the First World War
The UK economic recovery is the weakest of any since the end of the First World War in 1918, according to a leading economics institute.
Oct 13, 2011 - 5:11 AM
News
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UK Economy
UK unemployment hits a 17-year high
UK unemployment rose by 114,000 between June and August to 2.57m, a 17-year high, according to figures released by the Office for National Statistics.
Oct 12, 2011 - 12:59 PM
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UK Economy
Bank of England governor says financial crisis is the most serious since the 1930's if not ever
Bank of England governor Mervyn King has said the current financial crisis is the most serious since the 1930's if not ever.
Oct 7, 2011 - 7:52 AM
News
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UK Economy
Volume of UK high street sales in September lower than 2010 but pace of decline has stabilised
The volume of UK sales on the high street in September was lower than this time a year ago, but the pace of decline has stabilised, the CBI, the UK's principal employer body, said today.
Sep 27, 2011 - 11:23 AM
News
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UK Economy
Ghanaian national charged with fraud at UBS, the Swiss bank
The Crown Prosecution Service in London, has authorised the charging of Kwaku Adoboli, a Ghanaian national, with fraud “by abuse of position and false accounting,” at UBS, the Swiss bank.
Sep 16, 2011 - 3:32 PM
News
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UK Economy
UK retail sales volumes fell 0.2% in August when urban riots disrupted normal store activity
UK retail sales volumes fell 0.2% in August, official figures showed today, as violent urban riots earlier in the month triggered store closures across the country.
Sep 15, 2011 - 1:55 PM
News
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UK Economy
UK unemployed to 2.5m; 41,000 jobs added in private sector - - 111,000 lost in public sector
The number of people unemployed in the UK jumped by 80,000 to 2.51m in the three months to July, official figures issued today show. Some 41,000 jobs were added in the private sector while public jobs fell by 111,000.
Sep 14, 2011 - 11:18 AM
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UK Economy
German industrial production surged 4% in July; UK production fell 0.7%
German industrial production surged 4% in July according to official figures that indicated Europe’s largest economy remains in rude health. Meanwhile, UK production fell 0.7% in July.
Sep 7, 2011 - 1:57 PM
News
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UK Economy
Growth of UK staff placements maintained at modest pace in August
The Recruitment and Employment Confederation (REC) and KPMG Report on Jobs, published today, reports growth of UK staff placements was maintained at modest pace in August.
Sep 7, 2011 - 5:48 AM
News
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UK Economy
British Chambers of Commerce downgrades UK GDP forecast; Warns against unjustified gloom about economic prospects
The British Chambers of Commerce (BCC) on Thursday published its new Quarterly Economic Forecast, downgrading its prediction for UK GDP (gross domestic product) growth in 2011 and 2012. Though growth is expected to be weaker over the short-term, the new forecast predicts a gradual improvement, and warns against unjustified gloom about the UK’s economic prospects.
Sep 2, 2011 - 7:35 AM
News
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UK Economy
UK economy grew by 0.2% in the second quarter of 2011 confirmed in second estimate
The UK economy grew by 0.2% in the second quarter of 2011, the second estimate from the Office for National Statistics (ONS) has confirmed.
Aug 26, 2011 - 11:14 AM
News
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UK Economy
UK manufacturers reporting healthy order books
UK manufacturers are reporting healthy order books and expectations for output growth are above their long-run average, the CBI, the UK biggest business lobby group, said today.
Aug 23, 2011 - 11:32 AM
News
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UK Economy
UK retail sales grew slightly in July
UK retail sales grew slightly in July as stagnant earnings and the government's austerity measures took a toll on consumers.
Aug 18, 2011 - 1:09 PM
News
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UK Economy
Bank of England downgrades forecast GDP in 2011 to 1.4% and 2% in 2012
The Bank of England said on Wednesday that it had downgraded its forecast GDP (gross domestic product) in 2011 to 1.4% down from its estimate of around 1.8% in May, and in 2012 from 2.5% to nearer 2%.
Aug 10, 2011 - 12:48 PM
News
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UK Economy
UK's industrial sector flatlined in June and contracted in the second quarter
The UK's industrial sector flatlined in June and suffered its sharpest quarterly fall in more than two years, adding to fears about the economic recovery. The Office for National Statistics Tuesday showed that industrial production stagnated in June from May, slowing from May's 0.8% growth. In the second quarter, production fell 1.6% in the second quarter from the first, the biggest dip since the first three months of 2009.
Aug 9, 2011 - 2:25 PM
News
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UK Economy
Slight increase in UK jobs in July; Inflation to fall below the Bank of England's target in 2012
The Recruitment and Employment Confederation (REC) and KPMG Report on UK Jobs, published today, shows recruitment consultants reported further increases in the number of people placed into both permanent and temporary job roles during July. While rates of growth quickened slightly from June’s lows, they remained below long-run trends. Meanwhile, a report from an economics think tank says that UK inflation will fall below the Bank of England's target in 2012.
Aug 3, 2011 - 6:21 AM
News
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UK Economy
UK banks' direct exposure to debt of struggling Eurozone economies could trigger "substantial contractionary shock"
UK banks' direct exposure to the sovereign debt of struggling Eurozone economies is "manageable," but if big European banks are impacted directly by the crisis, the UK could experience a "substantial contractionary shock," the International Monetary Fund (IMF) warned Monday.
Aug 2, 2011 - 8:51 AM
News
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UK Economy
Business optimism among UK manufacturers falls for first time in two years
For the first time in two years, optimism regarding the general business situation fell among UK manufacturers, and expectations of slower activity are driving a reappraisal of forward-looking business plans, the CBI said today.
Jul 27, 2011 - 2:27 PM
News
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UK Economy
UK GDP growth slows to 0.2% in the second quarter
UK GDP (gross domestic product) growth slowed to 0.2% in the second quarter ended 30 June, partly because of the extra bank holiday in April for the royal wedding.
Jul 26, 2011 - 11:03 AM
News
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UK Economy
UK inflation fell in June with the Consumer Prices Index measure dropping to 4.2%
UK inflation fell in June with the Consumer Prices Index measure dropping to 4.2%. Markets had expected the figure to remain steady again at 4.5%.
Jul 12, 2011 - 1:45 PM
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