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Economy energy increase rates Top News UK 

Dollar advance stalls as oil slides, pound struggles near two-month low

June 21, 2017 By Shinichi Saoshiro TOKYO (Reuters) – The dollar pulled back from one-month highs against a basket of currencies on Wednesday as tumbling oil prices pushed down U.S. yields, while the pound wobbled after Bank of England Governor Mark Carney shot down hopes of an interest rate hike. The dollar index against a group of major currencies was 0.05 percent lower at 97.699 . It had hit a one-month high of 97.871 on Tuesday as expectations that the U.S. Federal Reserve, which hiked interest rates last week, would…

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Britain Economy immigration report Top News UK 

Businesses warn UK over freedom of movement as Brexit talks begin: think tanks

June 18, 2017 LONDON (Reuters) – Britain should ensure that employers retain access to both skilled and unskilled workers from the European Union as it begins talks to leave the bloc or there is a risk of damaging UK businesses, a research report by two think tanks said on Monday. With Britain’s negotiations on the terms of its departure from the EU set to begin on Monday, the country risks skills shortages and losing business if it ends freedom of movement without a new plan for attracting workers, the report…

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Asia Business Comey rates UK 

Asia stocks dip, dollar buoyant as Fed comes into view

June 12, 2017 By Shinichi Saoshiro TOKYO (Reuters) – Asian stocks edged lower early on Monday following a slide by U.S. technology shares and the dollar rose ahead of this week’s U.S. Federal Reserve policy meeting, with markets hoping for more guidance on the central bank’s interest rate path. The Fed holds a two-day meeting ending on Wednesday at which it is widely expected to hike interest rates. The focus is on whether the Fed thinks the U.S. economy is robust enough to withstand further rate increases through 2017. A…

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consumer Economy election spending Top News UK 

UK consumer spending falls for first time in nearly 4 years: Visa

June 12, 2017 LONDON (Reuters) – British consumers cut their spending for the first time in nearly four years last month, figures from credit card firm Visa showed, as households turned more cautious even before last week’s shock election result. Consumer spending in May was 0.8 percent lower than in the same month in 2016 after adjusting for inflation, the first year-on-year fall since September 2013, Visa said on Monday. Sales fell by a hefty 1.9 percent in monthly terms. “Our index clearly shows that with rising prices and stalling…

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Britain Economy Patrick Graham poll Top News UK 

Sterling drops as May seen falling short of majority

June 9, 2017 By Patrick Graham LONDON (Reuters) – Sterling saw its biggest daily fall since January before recovering some ground on Friday after exit polls and election results unexpectedly pointed to Prime Minister Theresa May losing her parliamentary majority in Britain’s election. The shock of a result that raises questions about how Britain will advance with its plan to leave the European Union, and whether any party can form a stable government, initially sank the pound by 2 percent against both the dollar and euro. But with projections still…

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2016 election Business GMT poll UK 

Sterling stunned by UK election shock, stocks await more results

June 9, 2017 By Wayne Cole SYDNEY (Reuters) – Sterling sank in Asia on Friday after British elections seemed to have left no single party with a clear claim to power, sideswiping investors who had already weathered major risk events in the United States and Europe. The pound dived over two U.S. cents in a matter of seconds, though most stocks and bond markets were relatively unscathed awaiting further results. An exit poll showed Prime Minister Theresa May’s Conservative Party could fail to win a parliamentary majority, a shock result…

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Business election European Central Bank James Comey UK 

Asian stocks on edge before Comey, ECB and UK election

June 8, 2017 By Hideyuki Sano TOKYO (Reuters) – Asian shares wobbled on Thursday as investors braced for any surprises from the UK elections, the European Central Bank’s policy meeting and congressional testimony from ex-FBI director James Comey who was fired by President Donald Trump last month. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1 percent while Japan’s Nikkei was flat. Wall Street shares ticked up on Wednesday, despite sharp decline in energy prices, after written testimony from Comey did not add major revelations about an investigation…

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Sovereign investors raise property holdings, wary of UK on Brexit

June 5, 2017 By Claire Milhench LONDON (Reuters) – Sovereign investors are raising their property exposure at the expense of low-yielding bonds in an attempt to boost returns, but Brexit is seen as a significant negative for all UK investments, a study by asset manager Invesco showed. The annual report, published on Monday and based on interviews with 97 sovereign wealth funds, state pension funds and central banks with assets in excess of $12 trillion, found sovereign investors underperformed their target returns by 2 percentage points on average over the…

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U.S. singer Grande delights fans with UK hospital visit

June 3, 2017 LONDON (Reuters) – U.S. pop singer Ariana Grande has paid a surprise visit to young fans who were injured in a suicide attack on a concert she gave in Manchester last month, posing with them for selfies and signing t-shirts. Grande returned to Britain on Friday to lead an all-star benefit concert on Sunday and quickly headed for a hospital in the northern English city where many of the injured are being treated. The Manchester Evening News newspaper said she brought presents and chatted with young fans,…

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TransferWise offers foreign currency business accounts, debit cards

May 27, 2017 By Anna Irrera NEW YORK (Reuters) – London-based startup TransferWise has launched a new service in the UK and Europe that will make it easier for small businesses to keep money and get paid in more than 15 currencies, as the company branches beyond its core money transfer business. Similar to having a bank account in multiple countries, the new service will allow small businesses to activate unique account and routing numbers for the United States, UK and the rest of Europe and get paid as if…

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