UK Economy News

CNBC

Liz Truss's Historic Gamble With the UK Economy Is Already Unraveling

(Bloomberg) — Liz Truss’s plan for growth, melding the biggest tax giveaway in half a century with Thatcherite deregulation, is a straight up gamble with Britain’s future, and even before her chancell..
CNBC

UK Labour leader accuses government of trashing economy

LIVERPOOL, England (AP) — The leader of Britain’s main opposition Labour Party accused the governing Conservatives of losing control of the economy and promised Tuesday to take the U.K. out of an “end..
CNBC

Pound stabilizes but turmoil continues for UK economy

LONDON (AP) — The British pound stabilized in Asian trading on Tuesday after plunging to a record low a day earlier, as the Bank of England and the British government tried to soothe markets nervous a..
CNBC

UK economy shows signs of strain from surging prices

LONDON — Britain’s economy grew by less than expected in July, with a fall in power production possibly reflecting the sharp climb in energy tariffs and the construction sector also hit by the leap in..
CNBC

Charting the Global Economy: ECB Joins Jumbo Rate-Hike Club

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. The European Central Bank delivered an unprecedented three-quarter-point interest-rate h..
CNBC

UK economy grows by less than expected in July, power output falls

LONDON — Britain’s economy grew by less than expected in July when it expanded by 0.2% from June with a fall in power production possibly reflecting higher energy tariffs, official data showed on Mond..
CNBC

EU Agrees on Urgent Push to Devise Energy Intervention Steps

(Bloomberg) — European Union energy ministers said Friday that the bloc’s executive arm should deliver urgent proposals to provide liquidity to energy traders clobbered by massive margin calls and to ..
CNBC

Lagarde Says ECB Can't Offer Liquidity to Energy Firms

(Bloomberg) — European Central Bank President Christine Lagarde ruled out providing short-term financing lines to struggling energy firms — saying that’s the job of European Union governments. “In th..
CNBC

Top Economic Events to Oct. 27

Sept 9 (Reuters) – For other diaries, please see: Top Economic Events Emerging Markets Economic Events Government Debt Auctions Political and General News U.S. Federal Reserve Today in Washingt..
CNBC

Sterling falls vs dollar, euro after death of Queen Elizabeth

NEW YORK/LONDON — The pound fell against the U.S. dollar and the euro on Thursday in choppy trading after Queen Elizabeth, Britain’s longest-reigning monarch and the nation’s figurehead for seven deca..
CNBC

Britain goes big to ease energy shock, EU meets on Friday

LONDON/BERLIN — Britain will cap consumer energy bills for two years and funnel billions to prop up power companies, its new leader Liz Truss said on Thursday in a bid to tackle an energy crisis that ..
CNBC

Sage and Square® partner to help small businesses take more control of their finances

New integration of Sage Accounting and Square POS takes pain out of sales tracking and bookkeeping for retailers in Canada TORONTO, Sept. 08, 2022 (GLOBE NEWSWIRE) — Sage , the leader in accounting, ..
CNBC

UK, Denmark to Help Power Companies Fight Crisis: Energy Update

(Bloomberg) — The UK will cap household energy bills and set up a fund of up to £40 billion to help energy companies access extra liquidity as part of measures to fight the energy crisis. Meanwhile, D..
CNBC

Liz Truss Announces Cap on Energy Bills for Households and Businesses

(Bloomberg) — Liz Truss’s UK government announced a sweeping package of measures to contain spiraling energy bills, seeking to ease a historic squeeze on the cost of living that’s likely to define her..
CNBC

UK, BOE Set Up £40 Billion Liquidity Fund for Energy Traders

(Bloomberg) — The UK Treasury is setting up a £40 billion fund with the Bank of England to help energy companies access extra liquidity they need to deal with surging energy prices. The so-called Ene..
CNBC

UK Banks May Write Off £41 Billion in Loans Due to Recession, Credit Suisse Says

(Bloomberg) — Britain’s lenders will have to write off £31 billion to £41 billion ($35.6 billion to $47.1 billion) of loans over the next three years as the country is hit by a recession, analysts at..
CNBC

Europe waits on potentially record ECB rate hike

LONDON — Stocks and bond yields shuffled higher while the euro slipped back under parity on Thursday, as investors waited to see if the European Central Bank would fight runaway inflation later with a..
CNBC

Germany to Help Companies; Cooler Pools in Zurich: Energy Update

(Bloomberg) — European politicians are maneuvering ahead of a key meeting on Friday that aims to tame the impact of the energy crisis and prevent a financial meltdown. Gas prices are easing, though s..
CNBC

European Gas Slumps Near One-Month Low on Intervention Prospects

(Bloomberg) — European natural gas prices fell to the lowest in almost a month as politicians consider how to intervene in regional markets and rein in an unprecedented energy crisis that is threateni..
CNBC

Australia Takes Up Outlier Rate Stance, Flags Smaller Hikes

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Australia’s central bank chief staked out an outlier position among G-10 currency nation..

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Wired

12 Best Deals: Apple Products, TVs, and Bluetooth Speakers

Winter is coming, and since you'll be spending more time indoors, now's a great time to upgrade your TV, speaker system, or computer. If you're going to be staring at screens, they might as well be ni..
Rebel News

European manufacturers shutter production amid skyrocketing energy costs

European companies have paused production in their factories as energy prices continue to skyrocket. Earlier this month, Russia cut the flow of natural gas through the Nordstream 1 pipeline, citing m..
Associated Press

Prototype electric airplane takes first flight

MOSES LAKE, Wash. (AP) — A prototype, all-electric airplane took its first flight Tuesday morning in central Washington state. The Seattle Times reports that if the Federal Aviation Administration ev..