LONDON/HONG KONG (Reuters) -Inflation in Britain could exceed 20% early next year if spiralling gas prices fail to come down, economists from U.S. investment bank Goldman Sachs warned, adding that a recession was on the way. Last week Britain’s energy regulator said power bills will jump 80% to an average of 3,549 pounds ($4,188) a …
Goldman warns UK inflation could top 20% as recession nears Read More »
(Reuters) -Bunzl Plc on Tuesday raised its 2022 group operating margin outlook, as the British business supplies distributor benefits from demand for its cheaper, high-margin products from inflation-hit customers amid a cost-of-living crisis. Bunzl, which supplies food packaging, latex gloves, work wear and stationery to businesses, said its first-half performance was driven by continued volume …
UK’s Bunzl raises operating margin outlook as HY profit climbs Read More »
By David Milliken LONDON (Reuters) – British government bonds are on course for their biggest monthly fall since 1994, as surging energy prices create a perfect storm of higher inflation, tighter monetary policy and the prospect of greater government borrowing. Yields for interest-rate sensitive two-year gilts – as well as for 10-year bonds which factor …
Analysis-Surging energy prices create perfect storm for UK bonds Read More »
(Reuters) – The Ukrainian armed forces heightened the rate of artillery fire across southern Ukraine, and long-range precision strikes continued to disrupt Russian resupply, Britain’s defence ministry said on Tuesday. Russia has made efforts since the beginning of August to reinforce its troops on the western bank of the Dnipro river around Kherson, the ministry …
Ukrainian armed forces heighten artillery fire in the south, Britain says Read More »
By Humza Jilani LONDON (Reuters) – Britain’s services businesses reported a record increase in costs over the past three months and are downbeat about the future, as inflationary headwinds look set to squeeze demand further, the Confederation of British Industry said on Tuesday. The CBI’s overall business optimism balance – which measures the difference between …
UK services sector downbeat in face of record costs – CBI Read More »
LONDON (Reuters) – British finance minister Nadhim Zahawi is visiting New York and Washington this week to discuss global economic challenges and collaboration in areas such as energy security and financial services, his office said on Monday. Britain and Europe are facing a sharp rise in power bills driven by sky-rocketing gas prices, as war …
UK finance minister Zahawi visits U.S. to discuss energy security Read More »
(Reuters) – LIV Golf has joined a handful of its players in their antitrust lawsuit against the PGA Tour, according to an amended complaint that showed four golfers have now removed their names. Phil Mickelson and 10 other golfers sued the PGA Tour in early August over its decision to suspend them for playing on …
Golf-LIV Golf joins antitrust lawsuit against PGA Tour Read More »
LONDON (Reuters) – Britain’s biggest warship, HMS Prince of Wales, has suffered a mechanical issue shortly after leaving southern England for what the Royal Navy described as a “landmark mission” off the coast of North America and in the Caribbean. The 65,000-tonne aircraft carrier, which cost 3.1 billion pounds to build, left Portsmouth on Saturday …
Britain’s biggest warship halted by mechanical issue shortly after leaving port Read More »
LONDON (Reuters) – Gibraltar finally joined the official list of British cities on Monday, after 180 years in which its status, granted by Queen Victoria, had been overlooked due to an administrative error. The British overseas territory bid to become a city earlier this year as part of the celebrations for Queen Elizabeth’s Platinum Jubilee, …
Gibraltar recognised as a British city, 180 years late Read More »
LONDON (Reuters) -British leadership frontrunner Liz Truss is considering cutting value-added tax (VAT) by 5% across the board to help tackle the cost-of-living crisis if she succeeds Boris Johnson as prime minister next month, the Sunday Telegraph reported. The government has been facing growing calls to provide immediate financial support to households struggling with squeezed …
UK’s Liz Truss considers 5% cut in VAT if she becomes PM -Telegraph Read More »
