Reuters UK Domestic

By Harry Robertson LONDON (Reuters) – The pound fell slightly on Thursday but largely stayed above the fray that rocked other currencies, as investors increased their wagers on Bank of England rate cuts in 2024. Sterling was last down 0.12% at $1.2891, slipping further away from a one-year high of $1.3044 hit last week. It …

Sterling dips as investors raise bets on BoE rate cuts Read More »

LONDON (Reuters) – The Bank of England allotted a record 30.359 billion pounds ($39 billion) on Thursday in its weekly short-term repo, which is designed to smooth out volatility in sterling lending markets as it unwinds its quantitative easing programme. Sums allotted in the repo have been hitting fresh records on an almost weekly basis …

Bank of England allots record 30 billion pounds in weekly repo Read More »

By Susanna Twidale LONDON (Reuters) – Britain’s new state backed power company GB Energy will work with the Crown Estate to boost investment in and help develop clean energy projects, the government said on Thursday. Under the terms of the agreement the Crown Estate will create a new division to work with GB energy and …

Britain’s GB Energy to work with Crown Estate on clean energy projects Read More »

By Susanna Twidale (Reuters) -Britain’s Centrica reported a fall in first-half adjusted operating profit on Thursday with profits at retail arm British Gas dropping due to lower energy prices and without a one off payment seen the previous year. Wholesale energy prices have fallen significantly since 2022 and early 2023 after hitting record highs following …

UK’s Centrica posts lower interim profit as British Gas profits fall Read More »

By Lawrence White and Sinead Cruise LONDON (Reuters) -Lloyds Banking Group reported a 14% fall in first half pretax profit to 3.3 billion pounds ($4.25 billion) on Thursday, just above forecasts, but tougher than expected trading conditions and rising costs hit its shares. Analysts had expected Britain’s biggest mortgage lender to report statutory pretax profit …

Lloyds profit slides 14% as slow economy and rising costs bite Read More »

(Reuters) – Rising mortgage rates in Britain likely pushed around 320,000 people into poverty, almost 100,000 more than suggested by official statistics, a report showed on Thursday. While rates have fallen from peaks above 6% for a typical two-year mortgage this time last year, they remain above 5% – far higher than their level before …

UK mortgage rate surge pushed 320,000 into poverty, report shows Read More »

LONDON (Reuters) -Britain’s BT said it was on track to deliver its financial outlook for the year, with its boss adding there was more to do to simplify the company as it targets improved cash flow by the end of the decade. In its first trading update since announcing a path to more than double …

BT reaffirms targets as cost control helps Q1 earnings Read More »

(Reuters) – Former UK security minister Tom Tugendhat said on Wednesday he was running to become leader of the Conservative Party, which this month lost power to Keir Starmer’s Labour Party. Britain’s Conservative Party is set to name its new leader on Nov. 2 after the party’s worst-ever election performance prompted former Prime Minister Rishi …

Former UK security minister Tom Tugendhat running to be next Conservative leader Read More »