Reuters UK Domestic

LONDON (Reuters) -British finance minister Jeremy Hunt will cut the rate of social security contributions by two percentage points in his budget statement on Wednesday, possibly his last before an election expected later this year, The Times reported. The cut to National Insurance Contributions (NICs) will be the central measure of Hunt’s budget after he …

UK’s Hunt to cut social security rates in budget, The Times reports Read More »

By Harry Robertson LONDON (Reuters) – The pound traded listlessly on Tuesday as currency markets remained sluggish, with sterling traders looking towards Wednesday’s spring budget as a potential catalyst for volatility. Sterling was last up 0.07% at $1.2682, sticking to the $1.28 to $1.25 range it has traded in since November. The euro was also …

Sterling static, waiting for possible budget jolt Read More »

LONDON (Reuters) – British digital bank has raised 340 million pounds ($431.26 million) at a 4 billion pound ($5.07 billion) valuation, the company said in a statement on Tuesday. The round was led by CapitalG, a fund owned by Google-owner Alphabet, and included investment from GV (Google Ventures) and Chinese venture capital firm HongShan Capital. …

UK digital bank Monzo valued at $5 billion after new funding round Read More »

LONDON (Reuters) – Senior doctors in England will soon vote on an improved pay offer, which could end months of disruptive strike action, their trade union said on Tuesday, after they narrowly rejected a previous offer from the government in January. The new pay offer includes a 2.85% uplift for those who have been senior …

Senior doctors in England to vote on improved pay offer Read More »

(Reuters) -Britain’s biggest supplier of building materials Travis Perkins warned of weaker 2024 profits on Tuesday, as it expected demand from the UK housing market and construction sectors to remain challenging this year. Shares dropped 6% in early trade, as the company forecasted the mid-point of its 2024 forecast below market expectations, adding that it …

UK’s Travis Perkins flags muted 2024 as weak demand persists Read More »

LONDON (Reuters) – Sales growth at British supermarkets slowed to 5.3% in February, from 6.6% in January, reflecting a fall in food inflation, industry data showed on Tuesday. Market researcher NIQ said food price inflation decreased to 5.0% last month from 6.1% in January. It said 24% of all FMCG (fast moving consumer goods) sales …

UK supermarkets’ sales growth slows in February, NIQ says Read More »

(Reuters) -UK’s Foxtons forecast resilience in its lettings business after posting a marginal rise in annual profit on Tuesday, as the strength in the rental business helped the estate agency offset subdued property sales activity. A surge in demand for rental properties in London has led to a supply shortage and a spike in rents, …

UK’s Foxtons sees rental market resilience after annual profit rise Read More »

By Samuel Indyk LONDON (Reuters) – Sterling’s meandering performance against the dollar could get a jolt this week as Britain’s finance minister faces pressure to cut taxes, but with the gilt turmoil of September 2022 still fresh in the mind, prudence may be the order of the day. The pound has traded in a narrow …

Spring Budget may awaken sterling from hibernation Read More »

LONDON (Reuters) – Britain’s government needs to do a better job of monitoring risks posed by its sales of bonds which have surged after a string of shocks to the economy, a parliamentary committee said on Tuesday. With Britain selling around 232 billion pounds ($294 billion) in government bonds this financial year alone, more information …

UK lawmakers warn of risks in huge government bond sales Read More »