Peter's Feed
Oct 19, 2012

Better UK borrowing gives govt hope on budget goal

LONDON, Oct 19 (Reuters) – Britain’s public finances
deteriorated much less than feared during the first six months
of the current tax year, giving finance minister George Osborne
some hope of meeting his budget goal even as the economy remains
weak.

The key measure of public sector net borrowing used in
official forecasts was 2.6 billion pounds ($4.19 billion) higher
than a year earlier for the April-September period, compared to
an overshoot of 10.6 billion pounds previously estimated for
April-August, the Office for National Statistics said.

Oct 18, 2012

UK retail sales rise boosts recovery prospects

LONDON, Oct 18 (Reuters) – British retail sales rose in
September as Britons bought the new winter clothing collections
and school uniforms, data showed, boosting chances that
consumers may keep the recovery on track.

Sales volumes including automotive fuel rose 0.6 percent
last month, more than making up for a 0.1 percent dip in August,
the Office for National Statistics said on Thursday. Economists
had forecast an increase of 0.4 percent on the month.

Oct 16, 2012

Inflation nears three-year low before energy bills rise

LONDON (Reuters) – Inflation fell to its lowest in almost three years in September, although the relief for consumers and policymakers may be temporary as energy bills are set to climb.

The fall may give the Bank of England leeway to add to its programme of asset buying when the current 50 billion pound round is completed next month.

Oct 16, 2012

UK inflation nears 3-year low before energy bills rise

LONDON, Oct 16 (Reuters) – British inflation fell to its
lowest in almost three years in September, although the relief
for consumers and policymakers may be temporary as energy bills
are set to climb.

The fall may give the Bank of England leeway to add to its
programme of asset buying when the current 50 billion pound ($80
billion) round is completed next month.

Oct 15, 2012

In political gamble, UK’s Cameron takes on Brussels

LONDON (Reuters) – Prime Minister David Cameron has ditched EU policing rules and allowed a close ally to float the idea of Britain quitting the bloc altogether, taking on Brussels in a gamble that has proved the undoing of predecessors.

The salvoes against Europe could prove popular with voters but dangerous for Cameron – exposing discord both within his historically fractious Conservative Party and between it and its junior coalition partners, the pro-Europe Liberal Democrats.

Oct 4, 2012

Government scraps flawed rail deal in embarrassing U-turn

LONDON (Reuters) – The government has torn up a deal awarding one of its biggest rail franchises to a private operator, in a humiliating U-turn that raises doubts about the government’s handling of the privatised railways.

Ministers froze three more rail franchise competitions on Wednesday after the Department for Transport (DfT) said that “completely unacceptable” flaws had been uncovered in its handling of bids to run the West Coast Main Line, a jewel in the crown of the rail network linking London and Scotland.

Oct 3, 2012

Britain scraps flawed rail deal in embarrassing U-turn

LONDON (Reuters) – Britain has torn up a deal awarding one of its biggest rail franchises to a private operator, in a humiliating U-turn that raises doubts about the government’s handling of the privatised railways.

Ministers froze three more rail franchise competitions on Wednesday after the Department for Transport (DfT) announced that “completely unacceptable” flaws had been uncovered in its handling of bids to run the West Coast Main Line, a jewel in the crown of the rail network that links London and Scotland.

Oct 3, 2012

Britain scraps badly flawed $9.7 billion rail deal

LONDON (Reuters) – Britain scrapped a 6 billion pound ($9.7 billion) deal on Wednesday to award one of the country’s biggest railway franchises to FirstGroup Plc (FGP.L: Quote, Profile, Research, Stock Buzz), blaming government officials for serious mistakes in the bidding process.

In an embarrassing U-turn, Transport Secretary Patrick McLoughlin said that “completely unacceptable” flaws had been found in the way rival bids to run the West Coast Main Line were calculated and the process would have to begin again.

Oct 3, 2012

Government scraps badly flawed 6 billion pound rail deal

LONDON (Reuters) – The government scrapped a 6 billion pound deal on Wednesday to award one of the country’s biggest railway franchises to FirstGroup Plc, blaming their own officials for serious mistakes in the bidding process.

In an embarrassing U-turn, Transport Secretary Patrick McLoughlin said that “completely unacceptable” flaws had been found in the way rival bids to run the West Coast Main Line were calculated and the process would have to begin again.

Oct 3, 2012

Britain scraps badly flawed 6 bln stg rail deal

LONDON, Oct 3 (Reuters) – Britain scrapped a 6 billion pound
($9.7 billion) deal on Wednesday to award one of the country’s
biggest railway franchises to FirstGroup Plc, blaming
government officials for serious mistakes in the bidding
process.

In an embarrassing U-turn, Transport Secretary Patrick
McLoughlin said that “completely unacceptable” flaws had been
found in the way rival bids to run the West Coast Main Line were
calculated and the process would have to begin again.