bankofengland
The survey questioned more than 750 UK investors who owned portfolios worth more than £25,000 (€29,527), apart from other savings, residential property and pensions. Some 47% of investors were happy with their portfolio performance in the past year, while just 40% were optimistic about their investments’ prospects in the next year. Soaring inflation, ongoing geopolitical conflicts and the UK’s current uncertain economic and political situation were all highlighted as the key reasons for portfolios performing disappointingly so far. Some 32% of investors revealed that higher interest rates had ...
Euronews (English)
Nationwide said that UK house prices rose by 0.2% in monthly terms and were 1.5% higher than in June last year. Britain's housing market boomed during the coronavirus pandemic but it has slowed after the Bank of England pushed interest rates last year to their highest level since 2008. Prices as measured by Nationwide are around 3% lower than their record high two years ago. Housing market activity remains fairly subduedCommenting on the figures, Robert Gardner, Nationwide's chief economist, said: "Housing market activity has been broadly flat over the last year, with the total number of trans...
Euronews (English)
The Office for National Statistics (ONS) in a statement released today confirmed that between January and March, the UK's Gross Domestic Product (GDP) expanded by 0.7% higher than the 0.6% initial estimate. It means that the UK economy bounced back even stronger than first expected from a recession at the end of 2023, when the economy contracted by 0.1% in the third quarter and 0.3% in the fourth quarter. The original figure for the first quarter of the year was stronger than economists had expected, and growth in the services sector, which includes businesses such as hairdressers, banks, and ...
Euronews (English)
Average salaries in the United Kindom fell back 0.1% to £38,765 (€45,736) from April to May, the first decline since last October, according to Adzuna's latest jobs report. Although it is a small decline, a slow down in wage growth could allay fears about future rises in inflation and increase the chances of a rate cut by the Bank of England (BoE). The Bank held rates at 5.25% again last week but economic indicators suggest a rate cut is in the offing. Inflation fell back to the Bank's 2% target for the first time in three years last week, paving the way for a rate cut as soon as August. Job v...
Euronews (English)
The Bank of England decided to keep the Bank Rate unchanged at 5.25% for the seventh straight meeting during its June meeting, as widely predicted by market participants. Seven members of the Monetary Policy Committee voted to keep rates unchanged, while Swati Dhingra and Dave Ramsden favoured a 0.25 percentage point reduction, bringing the rate to 5%. In its statement, policymakers noted that the restrictive monetary policy is weighing on real economic activity, leading to a looser labour market and curbing inflationary pressures. Despite the labour market easing, the Bank of England highligh...
Euronews (English)
Bank of England on Thursday kept interest rates unchanged at 5.25%. This is the seventh consecutive meeting at which the central bank has held interest rates steady. In a statement, BoE stated: At this meeting, the Committee voted to maintain Bank Rate at 5.25%. Headline CPI inflation has fallen back to the 2% target. The restrictive stance of monetary policy is weighing on activity in the real economy, is leading to a looser labour market and is bearing down on inflationary pressures. Key indicators of inflation persistence have continued to moderate, although they remain elevated. Monetary p...
Invezz
This marks the lowest annual change in the consumer price index since July 2021, aligning with analysts' forecasts. On a monthly basis, inflation increased by 0.3% in May 2024, consistent with April 2024 but slightly below economist expectations. The UK's CPI inflation rate was lower than France (2.6%), Germany (2.8%), and the EU average (2.7%), and matched the US (2.0%) in the 12 months to May 2024. The decline in annual inflation rates in May 2024 was driven by reductions in food and non-alcoholic beverages, recreation and culture, and furniture and household goods. However, transport and co...
Euronews (English)
Hargreaves Lansdown has revealed that it is in discussions with a group led by private equity firm CVC Capital and Abu Dhabi's wealth fund regarding a potential takeover approach worth £5.4bn (€6.39bn) The board of the financial services company has told investors that it would be willing to recommend such a deal if the consortium presents a solid offer. The company disclosed that this follows three previous approaches from the consortium in recent months. On Tuesday, Hargreaves Lansdown confirmed receipt of the latest non-binding proposal from the consortium, which includes Luxembourg-based p...
Euronews (English)
The European stock markets are poised to end the week on a negative note due to political uncertainties, despite a short-lived rebound induced by the Federal Reserve (Fed). In contrast, Wall Street maintained its bullish momentum, driven by a tech rally. Meanwhile, Asian stock markets were affected by declining metal prices and subdued Chinese economic data. EuropeMajor European benchmark indices declined for the week following a surprising surge in far-right power in the EU Parliamentary Elections. The selloff was particularly pronounced in French markets, with the CAC 40 falling by 3.67% fro...
Euronews (English)
The decision by Carlos Slim to buy a £400m (€473m) stake comes weeks after the company unveiled a major shake-up. Share in BT jumped by 10% last month after BT's newly appointed CEO Alison Kirby outlined plans to double cash flow over the next five years and implement an aggressive strategy to cut £3 billion in costs. Carlos Slim who made his fortune in telecoms in Latin American also has interests in energy, banking and construction. He joins the French telecoms billionaire, Patrick Drahi and the former Germany monopoly Deutsche Telekom as major BT shareholders. A spokesman for Mr Slim's Grup...
Euronews (English)
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