UK economy

Eurozone stocks retreat ahead of ECB meeting

London - Muslimchronicle

Eurozone stocks pulled back on Wednesday ahead of an ECB meeting likely to cut market stimulus, while a stronger pound hammered London's FTSE 100. Britain's GDP grew 0.4 percent in the third quarter, slightly outperforming expectations. The pound, which has been under pressure over suggestions that a hike in interest rates may be delayed, spiked after the positive GDP results,Read more

Lloyds Banking Group posts surging profits

London - ArabToday

Lloyds Banking Group announced soaring annual profits Wednesday on lower charges linked to an insurance scandal, as it awaits a full return to the private sector following a state bailout. LBG pointed to an "uncertain" economic outlook as Britain prepares to exit the European Union but said the UK economy was in good shape having performed better than expected followingRead more

Sterling ‘trading around ideal rate for UK economy’

London/Bengaluru - Arab Today

Sterling’s near 20 percent plunge following Britain’s vote in June to leave the European Union has brought the currency to the ideal rate for the UK economy, according to a Reuters poll of economists taken in the past few days. That plunge, however, has already begun to stoke inflation, posing a challenge for Britons and the Bank of England alikeRead more

UK interest rates cut to 0.25%

London - MENA

UK interest rates have been cut from 0.5% to 0.25% - a record low and the first cut since 2009, the BBC reported on Thursday. The Bank of England announced a range of measures to stimulate the UK economy including buying £60bn of UK government bonds and £10bn of corporate bonds. The Bank also announced the biggest cut to itsRead more

British Prime Minister: Brexit would put a bomb under economy

London - Arab Today

Prime Minister David Cameron joined forces with leading figures from the Left to accuse members of his Cabinet of conning the British and preparing to "put a bomb" under the UK economy. Following a weekend of bitter in-party fighting, Cameron slammed fellow Conservatives for performing a "con-trick" on voters with their economic case for leaving the EU, Sky News reportedRead more