Economy

CMA Launches Investigation into Ticketmaster Over Oasis Ticket Sales

The Competition and Markets Authority (CMA) has initiated an investigation into Ticketmaster following the sale of tickets for the highly anticipated Oasis reunion tour. The probe focuses on the company’s controversial use of "dynamic pricing" and wh...

PMI: UK Construction Sector 'Turns the Corner'

In August, the UK construction sector's recovery continued, according to a recent survey, though the pace of growth moderated. The S&P Global UK construction purchasing managers' index (PMI) registered at 53.6, falling short of the anticipated 54.9 b...

International PPL Declares Interim Dividend as Targeted

Infrastructure investor International Public Partnerships (INPP) reported its half-year results on Thursday, announcing a fully cash-covered interim dividend of 4.18p per share. This dividend contributes to the company's full-year target of 8.37p per...

Eurozone Retail Sales Struggle in July

Retail sales in the eurozone saw only a modest increase in July, as the recovery remained elusive, according to data released by Eurostat, the European Union’s statistics office. The seasonally-adjusted retail trade volume in the eurozone rose by jus...

US Layoffs Surge in August; Hiring Plans Hit Record Low

In August, there was a significant increase in layoff announcements across US companies, according to a recent survey by Challenger, Gray & Christmas. The data revealed that US firms disclosed 75,891 job cuts during the month, nearly tripling the num...

Eurozone Construction New Orders Decline 'Markedly' - PMI Survey

Construction activity in the eurozone remained sluggish throughout August, as indicated by a survey released on Thursday. The HCOB Eurozone Construction purchasing managers' index held steady at 41.4, matching July's six-month low. This figure, below...

German Factory Orders Rise on Growth in Large-Scale Orders

German factory orders rose by 2.9% in July compared to the previous month, according to the Federal Statistical Office. This result exceeded market expectations, which had anticipated a 1.5% decline. The increase follows June’s upwardly revised 4.6%...

Ofwat Takes Action After Thames Water's Credit Downgrade

On Friday, Ofwat, the UK's water regulator, announced the immediate implementation of new measures to address Thames Water's recent loss of its investment-grade credit ratings. This decision follows a public consultation and introduces several critic...

Jackson Hole, Kroger price cuts, UK retail sales - what's moving markets

Three market trends for 2023

2022 has been harsh on the UK, with the country’s economy contracting more than expected

Stocks to watch as the UK economy contracts

Amid the spiralling prices, the UK economy shrank by 0.2% in the most recent quarter, pushing the country on the verge of a recession.

Who could be the next UK PM?

Highlights:,After Liz Truss' resignation, the UK is set to get the third PM this year by the end of October.,Voting to choose the Conservative leader and a new PM is set to be conducted within a week.,In a dramatic turn of events on Thursday, Liz Tru...

Liz Truss resigns as UK prime minister

Just weeks after taking up the job, British prime minister Liz Truss resigned from the job on Thursday.

UK inflation back to double digits as price rises hit 10.1%

Highlights:,After falling to 9.9% in August, UK inflation has climbed back to double digits.,The CPI for September reached 10.1% and is projected to rise more in the coming months.,Inflation,in the UK has reached double digits again after slightly di...

Hunt reverses mini-budget tax cuts, scales back energy bills support

Chancellor Jeremy Hunt has announced that the tax cuts announced in the mini-budget will be reversed. Besides, the energy bill support will not be extended beyond April, he added.

Liz Truss sacks Kwasi Kwarteng, appoints Jeremy Hunt as new Chancellor

Highlights:,Kwasi Kwarteng has been sacked as the Chancellor of the Exchequer by Liz Truss after just 38 days into the role.,He will be replaced by Jeremy Hunt, the former foreign secretary and health secretary.,Less than six weeks into the job, Kwas...

Brookfield Business Partners inks deal to sell Westinghouse; check details

Brookfield Business Partners has announced to sell its nuclear technology services operation, Westinghouse Electric Company.

Over £60b needed to tame debt due to tax cuts: Think tank

Ever since it was announced in September, Chancellor Kwasi Kwarteng's mini-budget has been facing a lot of heat from economists and other organisations. The latest to join the league is the think tank Institute for Fiscal Studies (IFS), which has sai...

Government's U-turn on scrapping 45% tax rate: Here's what it means

Chancellor Kwasi Kwarteng has announced the reversal of the decision to scrap the 45% income tax rate for the highest earners. The move comes amid criticism from organisations, economists, and MPs.,After a week of criticism for,slashing the to...

What does the government's mini-budget include?

Highlights:,Chancellor Kwasi Kwarteng on Friday announced a mini-budget in its bid to pump fresh energy into the economy.,The measures include tax cuts and a reduction in stamp duty, among others.,In its attempts to revive the ailing,economy,, the UK...