Business

UK trade deficit widens in September, official figures show

The UK trade deficit widened to £5.2bn in September from £3.8bn in August, the Office for National Statistics (ONS) said. Exports decreased by £0.2bn, while imports increased by £1.2bn. The widening between imports and exports was in part driven by a record £8.7bn deficit with the European Union. Although the pound fell sharply after the Brexit vote, the ONS said ... Read More »

US Election 2016: Markets meltdown fails to materialise

US share markets have shrugged off fears that a Donald Trump election victory could lead to a large Wall Street sell-off. The S&P 500 and Dow Jones indexes were up 1% in late morning trading, with the Nasdaq also in positive territory. The pre-open future markets forecasted dramatic sell-offs when Donald Trump’s lead became clear overnight. Share traders had expected ... Read More »

FTSE boosted by rising miners, Burberry falls

British stocks climbed on Tuesday, rebounding from a fall in the previous session as rising mining companies helped outweigh a sharp drop in Burberry’s shares. The blue chip FTSE 100 index was up 1 percent at 7,018.99 points by 0904 GMT, in line with a broader rally among continental European indexes. Luxury goods maker Burberry, however, slumped 8.5 percent and ... Read More »

Rising gasoline, rents push U.S. inflation higher in September

U.S. consumer prices recorded their biggest gain in five months in September as the cost of gasoline and rents surged, pointing to a steady build-up of inflation that could keep the Federal Reserve on track to raise interest rates in December. The Labor Department said on Tuesday its Consumer Price Index increased 0.3 percent last month after rising 0.2 percent ... Read More »

Eurostar aims to cut 80 jobs as traffic suffers after attacks

Train operator Eurostar wants to cut 80 jobs this year as it struggles with weak traffic on the service that links Britain with continental Europe after a string of deadly attacks in Paris and Brussels, a spokeswoman said on Tuesday. The company could not confirm British media reports saying Eurostar would cut two daily trains to Paris and one to ... Read More »

Airports expansion decision ‘next week’

A decision on airport expansion in England will be made next week, with ministers allowed to express their own views, Downing Street has said. In an unusual move, ministers opposed to the decision will be allowed to voice their “personal views”. Suspending “collective responsibility” for cabinet heightens speculation that Heathrow expansion will be approved. Developing Heathrow rather than Gatwick has ... Read More »

Netflix shares soar as video service posts jump in subscribers

Netflix has shaken off growth worries with new subscriber numbers that beat estimates and sent its shares soaring. The video streaming company added 3.2 million international customers in the last three months, far more than the 2 million analysts had predicted. In the US numbers rose by 370,000, as hit shows such as Stranger Things and Narcos won over more ... Read More »

Belgium split over EU-Canada trade deal Ceta

Belgium’s Trade Minister Didier Reynders says EU leaders may agree on a landmark EU-Canada trade deal this week – but only if objections from his country’s Wallonia region can be met. EU trade ministers are discussing the Ceta deal in Luxembourg, and Wallonia’s concerns cannot be ignored. Belgium’s national government backs the deal. Walloon MPs say Ceta favours Canadian firms ... Read More »

  Rising prices for clothes, hotel rooms and petrol have led to the highest rate of inflation in nearly two years, official figures show. Inflation rose to 1.0% in September, up from 0.6% in August, the Office for National Statistics (ONS) said. Clothing saw its biggest price rise since 2010 and fuel, which was falling a year ago, was also ... Read More »

Sir Philip Green hits back at MPs on BHS

Lawyers for Sir Philip Green have accused MPs of making “very serious factual and legal errors” in their report about the BHS collapse. The review, commissioned by the retail tycoon, comes as parliament prepares to debate stripping him of his knighthood. Lord Pannick QC and Michael Todd QC call the MPs’ findings “bizarre” and “unsupportable”. They claim Sir Philip’s decision ... Read More »