Tag Archives: UK

UK economy under worst strain for seven years as car sales slump

 The global car industry has been hit by a decline in demand for diesel vehicles. Photograph: Matt Cardy/Getty Images The British economy is showing the greatest signs of strain for seven years amid a continued decline in car sales and as the service sector struggles to grow with Brexit looming. According to the latest snapshot from the beleaguered UK motor ... Read More »

UK businesses urge government to reach Brexit transition deal

LONDON, OCT 23:   The British government must act urgently to secure a Brexit transition deal or risk losing jobs and investment in the country, business leaders representing millions of workers are due to warn. In a draft letter due to be sent to Brexit minister David Davis, Britain’s five leading business organisations said a deal to provide a status quo ... Read More »

UK interest rates stay steady at record low of 0.25%

A Bank of England’s monetary policy committee voted 7-2 in favour of holding interest rates steady. Photograph: Alicia Canter for the Guardian The Bank of England left interest rates on hold at their record low of 0.25% amid sluggish pay growth and a squeeze on household spending, while hinting that a rise may come sooner than expected. The Bank’s monetary policy ... Read More »

UK economy loses momentum as fears mount about cost of Brexit, find latest surveys

The weaker growth trend in services was most evident in consumer-facing sectors such as restaurants, cinemas, gyms and hairdressers The UK economy is losing momentum as fears mount about Brexit, according to the latest round of industrial surveys. The Purchasing Managers’ Index for services in August came in at 53.2, down from 53.8 in July. Any figure above 50 signals expansion, but the ... Read More »

Silver Reel is latest production firm to move into UK TV market

Silver Reel, the Swiss finance and production company behind films including the upcoming Breathe, Andy Serkis’s directorial debut featuring Andrew Garfield and Claire Foy, is launching a €50m (£45.6m) fund to make TV drama in Britain, taking advantage of the weakening of the pound since the Brexit vote. Silver Reel has invested more than £500m making 35 films in the last decade, ... Read More »

UK economic growth rate edges slightly higher

A stronger UK film industry helped the service sector to expand, the ONS said. UK economic growth edged slightly higher in the three months to June, as a stronger service sector offset weaker manufacturing and construction. The Office for National Statistics (ONS) said the economy expanded by 0.3% in the quarter, up from 0.2% in the previous three months. But ... Read More »

10 of the worst companies to work for in the UK – according to their employees

JD Sports employees rated the sportswear brand just 2.6/5 for job satisfaction  CREDIT:NICK ANSELL/PA WIRE The Financial Ombudsman, Laura Ashley and Ladbrokes are some of the worst companies to work for in the UK, according to employee ratings on the job site Glassdoor. The website holds a database of millions of company reviews curated by those who know the company best — their employees. The ... Read More »

Don’t underestimate the power of the UK economy – it’s more resilient than you think

The outcome for the UK economy seems more positive than first thought Reuters Janet Yellen was in London this week, talking with Lord Stern at the British Academy. My main thought watching her was how lucky the Americans were to have her as chair of the Federal Reserve Board: calm, sensible, measured and wise. But of course the rest of ... Read More »

UK banks ordered to hold more capital as consumer debt surges

The Bank of England has warned against spiralling consumer borrowing. Photograph: Maxim Zmeyev/Reuters The Bank of England is to force banks to strengthen their financial position in the face of a rapid growth in borrowing on credit cards, car finance and personal loans. The intervention by Threadneedle Street means banks will need to set aside as much as £11.4bn of ... Read More »

Election debacle leaves UK government in a minority on eve of Brexit talks

British Prime Minister Theresa May addresses the country as her husband looks on after Britain’s election at Downing Street in London, Britain, on 9 June. Photo: Hannah Mckay/Reuters   London: British Prime Minister Theresa May said she would lead a minority government backed by a small Northern Irish party after she lost an election gamble days before the start of ... Read More »