The UK’s service sector returned to growth in February as business activity expanded at fastest pace since June 2022. Services firms reported that business activity and incoming new work both rose last month, for the first time since August 2022, as fears of an imminent recession fade. The S&P Global/CIPS UK services PMI survey showed...Read More
Britain’s biggest pension and investment companies have called on Jeremy Hunt to use the upcoming Budget to reform tax rules they say penalise over-50s returning to work. An unprecedented coalition of financial giants, including stockbroker Hargreaves Lansdown and the Association of British Insurers, a powerful City lobby group, have urged the Chancellor to increase the...Read More
The FTSE 100 and European stocks were in the red this Thursday as concerns about more rate hikes in Europe and the US grow stronger amid signs of sticky inflation. The FTSE 100 (^FTSE) slipped 0.31% to 7,889 points at the open, while the CAC 40 (^FCHI) in Paris lost 0.74% to 7,180 points. In...Read More
The London Stock Exchange Group (LSEG.L) is seeking to buy back £750m ($897m) worth of shares from investors as it posted a jump in pre-tax profits. LSE said it would seek shareholder consent to buy more of its own stock from the Blackstone and Thomson Reuters consortium from which it acquired Refinitiv in January 2021...Read More
LONDON (Reuters) -Bank of England Governor Andrew Bailey said on Wednesday that it was possible the central bank had already come to the end of its rate-rising cycle, although it was too soon to be sure about the future path of policy. The BoE raised interest rates to 4% last month but signalled it was...Read More
(Reuters) -Persimmon warned on Wednesday Britain’s slowing housing market would hit annual profits and home-building targets as it slashed its dividend by 75%, sending its shares sharply lower. Britain’s housing market has slowed markedly in recent months as higher mortgage rates and broader economic concerns deter buyers. Data from mortgage lender Nationwide on Wednesday showed...Read More
(Reuters) -UK’s FTSE 100 rose on Wednesday, with miners leading the gains as commodity prices surged after data showed manufacturing activity at top metals consumer China expanded at the fastest pace in over a decade. The blue-chip FTSE 100 gained 0.5%, bouncing from its biggest single-day drop in nearly four weeks in the previous session....Read More
House prices appear to be on a downward trajectory in 2023. Most market commentators and experts are in broad agreement that prices will fall this year. Their house price predictions vary between a 1 per cent to 20 per cent downturn. While some blame can also be apportioned to rising living costs and the spectre of recession, housing market experts...Read More
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