Reuters UK Domestic

By Elizabeth Howcroft LONDON (Reuters) – UK-focused equity funds registered 868 million pounds ($1.04 billion) of outflows in January, in sharp contrast to global funds, which attracted investment as markets rebounded, funds network Calastone said on Tuesday. The latest data means UK equity funds have seen 20 consecutive months of outflows, with January’s losses the …

Investors pulled $1 billion from UK equity funds in January – Calastone Read More »

LONDON (Reuters) – Some 72% of UK households fear they will be severely or moderately affected by the cost-of-living crisis in the first part of 2023, up from 54% at the end of last year, survey data from market researcher NielsenIQ showed on Tuesday. After a tough 2022, British consumers are facing an even tighter …

Seven out of ten UK households fear cost-of-living hit -NielsenIQ Read More »

By Marc Jones LONDON (Reuters) – Central banks face mounting losses on the trillions of dollars of bonds they bought in the past 15 years of rolling crises, a paper from the Bank for International Settlements (BIS) said, warning that the deficits could leave them open to political attack. Having rapidly raised interest rates to …

Post-QE bond losses rising reality for central banks – BIS Read More »

LONDON (Reuters) – Britain is likely to spend 69 billion pounds ($82.95 billion) on schemes to protect households and business from soaring electricity costs, half of the original estimate, a UK spending watchdog said, as a mild winter softened energy costs. In a report published on Tuesday, The National Audit Office (NAO) said the estimated …

UK energy support schemes’ cost halved as mild winter tames prices – NAO Read More »

By Huw Jones LONDON (Reuters) – The Bank of England should help oversee pension schemes, with powers to order other regulators to take action, a committee of lawmakers from Britain’s parliament said on Tuesday. The House of Lords’ industry and regulators committee said watchdogs in the liability-driven investment (LDI) sector appear to have been “too …

Lawmakers call for Bank of England role in pensions after LDI debacle Read More »

LONDON (Reuters) – Spending by shoppers at British retailers grew less quickly in January but the overall picture looked a bit brighter as consumers treated themselves to cinema trips and booked holidays, surveys showed on Tuesday. The British Retail Consortium said spending in store chains rose by 4.2% in annual terms in January, weaker than …

UK retailers struggle but consumers spend on films and holidays Read More »

LONDON (Reuters) -British Prime Minister Rishi Sunak is set to announce a reshuffle of his cabinet on Tuesday and is considering major changes to government departments, the Times newspaper reported on Monday. Reports of the planned changes come roughly a week after Sunak sacked Conservative Party chair Nadhim Zahawi over his tax affairs, and as …

UK PM Sunak to announce cabinet reshuffle -Times Read More »

By Simon Jennings (Reuters) -The Premier League has referred Manchester City to an independent commission over more than 100 alleged breaches of finance rules since the club were acquired by the Abu Dhabi-based City Football Group. The referral came weeks before the expected publication of a government white paper set to recommend the establishment of …

Soccer-Premier League charges Man City over alleged financial rule breaches Read More »

By Andy Bruce MANCHESTER, England (Reuters) – The Bank of England has signalled the tide is turning in its battle against high inflation after a series of interest rate hikes – but it has also said it is too soon declare victory. At a news conference on Thursday, BoE officials outlined the economic indicators they …

What is Bank of England watching as it considers peak in rates? Read More »