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Jun 18, 2015

Insight – UK employers, economy turn sights on EU referendum risks

LONDON (Reuters) – For Encocam, one of the world’s few manufacturers of crash test dummies, a British exit from the European Union looks like an accident that will probably be avoided.

But if things turn out differently in the country’s planned EU referendum, it will have big consequences for the company based 20 miles (30 km) north-west of Cambridge.

Jun 18, 2015

UK employers, economy turn sights on EU referendum risks

LONDON, June 18 (Reuters) – For Encocam, one of the world’s
few manufacturers of crash test dummies, a British exit from the
European Union looks like an accident that will probably be
avoided.

But if things turn out differently in the country’s planned
EU referendum, it will have big consequences for the company
based 20 miles (30 km) north-west of Cambridge.

Jun 18, 2015

UK pay growth hits higher gear, puts rate hike back in focus

LONDON (Reuters) – British workers’ pay grew at its fastest rate in nearly four years in the three months to April and a Bank of England policymaker said the data underscored how interest rates are on course to rise.

Britain’s long-awaited recovery in living standards seemed to be gathering momentum as a key measure of earnings rose more quickly than expected, data showed on Wednesday.

Jun 17, 2015

Pay growth revives hopes that UK casting off crisis hangover

LONDON (Reuters) – British workers’ pay grew at its fastest rate in nearly four years in the three months to April, putting the prospect of the Bank of England finally raising interest rates firmly back on the agenda for investors.

A long-awaited recovery in living standards seemed to be gathering momentum as a key measure of earnings rose more quickly than expected, official data showed on Wednesday.

Jun 12, 2015

UK growth set for boost as construction data changes kick in

LONDON (Reuters) – Britain’s economic growth rate last year and in early 2015 looks to have been stronger than previously estimated after the country’s statistics office revised the way it measured the construction sector.

The pace of growth in gross domestic product in 2014 could rise to 3.1 percent — the highest since 2003 — from a previous reading of 2.8 percent due to the changes in the construction data, the Office for National Statistics said on Friday.

Jun 10, 2015

UK clamps down on markets after trader scandals

LONDON, June 10 (Reuters) – Britain announced plans to clamp
down on abuse in financial markets on Wednesday after a string
of scandals that sullied the reputation of the financial system
and have so far cost banks $19 billion in fines.

Under the proposals, criminal penalties currently in place
for insider trading in shares would be extended to fixed-income,
currency and commodity (FICC) markets with jail sentences for
offenders lengthened to up to 10 years.

Jun 8, 2015

CBI cuts growth outlook, urges Osborne to stick to austerity

LONDON (Reuters) – The Confederation of British Industry, a leading employers group, cut its forecast for UK economic growth on Monday but said the government should not delay its push to fix the public finances.

The CBI predicted growth of 2.4 and 2.5 percent in 2015 and 2016 respectively, down from forecasts of 2.7 and 2.6 percent it made in February, echoing cuts to growth forecasts by other organisations including the Bank of England.

Jun 7, 2015

UK employers group cuts growth outlook, urges Osborne to stick to austerity

LONDON (Reuters) – The Confederation of British Industry, a leading employers group, cut its forecast for UK economic growth on Monday but said the government should not delay its push to fix the public finances.

The CBI predicted growth of 2.4 and 2.5 percent in 2015 and 2016 respectively, down from forecasts of 2.7 and 2.6 percent it made in February, echoing cuts to growth forecasts by other organizations including the Bank of England.

Jun 3, 2015

UK services growth stumbles in May, points to slower recovery

LONDON, June 3 (Reuters) – Growth in Britain’s service
sector suffered its steepest slowdown in nearly four years in
May, according to a survey that suggested the economy might not
recover as quickly as hoped after stumbling in early 2015.

Sterling fell sharply after Wednesday’s Markit/CIPS services
purchasing managers’ index (PMI) fell back to 56.5 last month,
still comfortably in growth territory but down from 59.5 in
April and at its lowest level since December.

Jun 2, 2015

Britain leans on consumers as mortgage approvals, loans surge

LONDON, June 2 (Reuters) – British mortgage approvals surged
by the most in six years in April and lending to individuals
also rose sharply, underlining the clout of the country’s
consumers but also its reliance on them to drive the economy.

Tuesday’s data from the Bank of England supported
expectations that the pace of the broader economic recovery will
pick up again by mid-year after slowing at the start of 2015,
giving a nudge to a long-running debate about when interest
rates might rise.