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First UK interest rate rise in 10 years – BBC News

Image copyright PA Image caption Governor Mark Carney said banks should pass on the rate rise to savers For the first time in more than 10 years the Bank of England has raised interest rates. The official bank rate has been lifted from 0.25% to 0.5%, the first increase since July 2007. The move reverses […]

UK bank accused of ‘criminal complicity’ in South Africa scandal – BBC News

Image copyright PA Lord Peter Hain has said a UK bank should be investigated for “possible criminal complicity” in connection with corruption allegations in South Africa. Lord Hain told the House of Lords he had sent print-outs of transactions and named the bank concerned in a letter to Chancellor Philip Hammond. He said the bank […]

UK Defense Secretary Michael Fallon resigns – CNN

Chat with us in Facebook Messenger. Find out what’s happening in the world as it unfolds. UK Defense Secretary Michael Fallon resigns – CNN

UK manufacturing growth was stronger in October, says PMI survey … – BBC News

Image copyright Getty Images British manufacturers reported stronger growth in October, driven by higher domestic demand and export orders. The IHS Markit/CIPS purchasing managers’ index (PMI) rose to 56.3 last month, from 56 in September. A reading above 50 indicates expansion. It was the fifteenth consecutive month of expansion for the sector, and will fuel […]

National Audit Office to examine UK’s Brexit divorce bill – The Guardian

Whitehall’s spending watchdog will scrutinise Britain’s Brexit divorce bill to make sure it represents value for taxpayers’ money, ministers have been told. Sir Amyas Morse, head of the National Audit Office, told the Treasury select committee that he will examine whether the bill, which is estimated to cost anything between £30bn and £90bn, represents value […]

UK house prices pick up but still under pressure, says Nationwide … – The Guardian

UK house price growth edged up to a three-month high in October, but pressure on household budgets is weighing on the market according to Nationwide. Annual growth in house prices picked up to 2.5% from 2.3% in September, as a shortage of homes on the market and low mortgage rates propped up prices, the lender […]

Brexit May Cost 75000 UK Finance Jobs, Top Regulator Says – Bloomberg

Follow @Brexit for all the latest news, and sign up to our daily Brexit Bulletin newsletter. Sam Woods, Britain’s top banking regulator, said a consultancy’s estimate that Brexit could cause as many as 75,000 job losses in banking and insurance is “plausible” if the U.K. leaves the European Union without a trade deal. About 10,000 U.K.-based […]

UK house prices pick up but still under pressure, says Nationwide – The Guardian

UK house price growth edged up to a three-month high in October, but pressure on household budgets is weighing on the market according to Nationwide. Annual growth in house prices picked up to 2.5% from 2.3% in September, as a shortage of homes on the market and low mortgage rates propped up prices, the lender […]

Tackle UK’s north-south divide with pledge on infrastructure, say experts – The Guardian

Britain’s north-south divide should be tackled by a government pledge in its new industrial strategy to provide every citizen with decent transport, schools, hospitals and digital access, an expert body says. The independent industrial strategy commission on Wednesday urged ministers to tackle Britain’s regional imbalances by committing to universal basic infrastructure – a guaranteed standard […]

UK factories expect another year of growth as acceleration takes hold – Telegraph.co.uk

Any score of above 50 indicates growth, so this improvement shows the sector accelerating. “UK manufacturing made an impressive start to the final quarter of 2017 as increased inflows of new work encouraged firms to ramp up production once again,” said Rob Dobson from IHS Markit. “The sector looks to be achieving a quarterly rate […]

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