LONDON (Reuters) – British factory gate prices rose more than expected in March, while a feeble rebound in construction in February kept the threat of recession alive, highlighting the Bank of England’s dilemma over whether to spur the fragile economy any further.
Consumer price inflation data next Tuesday and BoE April policy meeting minutes a day later will give more clues about the chances of the bank extending its asset purchase programme when the current round, pumping 50 billion pounds ($80 billion) into the economy, ends in May.
LONDON, March 30 (Reuters) – British unions ruled out an
Easter strike by fuel delivery drivers on Friday after the
government was accused of triggering panic-buying and long
queues at garages with its “incompetent” handling of the
The Unite union lifted the threat of action over one of the
busiest weekends on the roads, saying it wanted to focus on
talks next week with haulage contractors.
LONDON, March 29 (Reuters) – - Approvals for home loans in
Britain fell to an 8-month low in February, and banks expect to
tighten lending in the next few months, Bank of England data
showed, highlighting the tough path ahead for the recovery.
The figures come after mortgage lender Nationwide said
prices fell at their fastest pace in two years in March, though
analysts said some of the weakness in the data may have been due
to the end of a temporary tax break for first-time home buyers.
LONDON (Reuters) – Britain’s economy shrank more than previously thought in the final three months of 2011, driven by a weakening services sector and adding to nerves about its ability to return to growth in early 2012.
The Office for National Statistics said the economy contracted by 0.3 percent between October and December last year, taking the annual rate of growth to 0.5 percent. That was below economists expectations for unrevised readings of -0.2 percent quarter-on-quarter and 0.7 percent year-on-year.
LONDON (Reuters) – Budget deficit hit a record for the month in February as income tax receipts dived and spending climbed, in a blow to Chancellor George Osborne just hours before his annual budget on Wednesday.
The figures highlight how little leeway Osborne has to stimulate economy. With triple-A rating now under warning from credit ratings agencies, he must convince markets that he will stick to an ambitious deficit-reduction plan and resist calls to ease back on the pace of cuts.
LONDON (Reuters) – European defence group Eurofighter is still in the running to sign a multi-billion dollar deal for fighter jets for the United Arab Emirates, ministers said on Tuesday, following reports that France is close to clinching the contract.
The Gulf Arab state had been expected to reach a $10 billion (6.3 billion pounds) agreement with France’s Dassault (AVMD.PA: Quote, Profile, Research) last year, but the talks faltered after the UAE called the proposed terms “uncompetitive and unworkable”.
LONDON, March 20 (Reuters) – European defence group
Eurofighter is still in the running to sign a multi-billion
dollar deal for fighter jets for the United Arab Emirates,
British ministers said on Tuesday, following reports that France
is close to clinching the contract.
The Gulf Arab state had been expected to reach a $10 billion
agreement with France’s Dassault last year, but the
talks faltered after the UAE called the proposed terms
“uncompetitive and unworkable”.
LONDON, March 15 (Reuters) – Britain lacks a credible
plan to revive its stuttering economy and risks being left
behind by fast-moving emerging markets, said the head of British
Airways owner IAG, at loggerheads with the government
over airport expansion.
The country is not keeping pace with others that have cut
business taxes, spent more on infrastructure and improved their
schools and universities to drive growth at a time of increased
competition and worries about global output, IAG Chief Executive
Willie Walsh said on Thursday.
LONDON (Reuters) – Lawyers for the family of a man killed in a U.S. drone attack in Pakistan said they would begin legal action against Britain’s Foreign Secretary William Hague on Monday, accusing him of complicity in strikes they say broke international laws.
London law firm Leigh Day & Co said it had “credible, unchallenged” evidence that Hague oversaw a policy of passing British intelligence to U.S. forces planning attacks against militants in Pakistan. It plans to issue formal proceedings against Hague at the High Court in London on behalf of Noor Khan, whose father was died in a drone attack last year.
LONDON, March 2 (Reuters) – British Prime Minister
David Cameron said on Friday he did ride a horse given by police
to a Rupert Murdoch newspaper editor, seeking to end days of
embarrassing confusion over an animal that has become an
unlikely symbol of the phone hacking scandal.
After his aides had spent days dodging questions about the
horse, Cameron apologised for the lack of clarity and confirmed
that he had ridden it with the husband of Rebekah Brooks, who
used to run Murdoch’s UK newspaper business.