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  • Wall Street sees renewed sell-off amid tech worries

    November 20, 2018 3:00 PM 7

    The Dow Jones Industrial Average fell by around 500 points, or 2%, early in Tuesday trading, having dropped 400 points the day before. A torrid session on Monday saw more than $130bn in market value wiped off the so-called FAANG stocks - Facebook, Amazon, Apple, Netflix and Google owner Alphabet. That came after a report in the Wall Street Journal claimed

  • Inflation stalls as clothing prices fall

    November 14, 2018 9:31 AM 9

    Economists had been expecting the consumer prices index (CPI) measure of inflation to edge up to 2.5% as household utility bills and petrol prices climbed. But instead, CPI remained steady, according to the figures from the Office for National Statistics (ONS) - meaning a little more spending power for households to add to the boost from the uptick in wage growth

  • Unemployment climbs while wage growth improves

    November 13, 2018 9:32 AM 9

    Joblessness climbed from 4% to 4.1% as the number of people classed as unemployed rose by 21,000 to 1.38 million, the Office for National Statistics (ONS) said. But the rate was still close to 43-year lows while those in work saw further improvements in their pay packets as average weekly earnings - excluding bonuses - rose by 3.2%. That was up from 3.1% recorded

  • UK economy grows 0.6% in third quarter but slowdown seen ahead

    November 9, 2018 8:46 AM 12

    Official figures show a pick-up from the hot summer but there are fears the year will end on a more downbeat note. Early official figures from the Office for National Statistics (ONS) pointed to hot summer weather boosting consumer spending and a good performance from trade. But it said demand took a hit in September as temperatures cooled - with business

  • Lamont: US sanctions aimed at regime change in Iran

    November 5, 2018 7:24 PM 15

    Lord Lamont, UK trade envoy to Iran, says the US is encouraging "discontent" among Iranians hoping it will lead to regime change. Lord Lamont said the sanctions were aimed at bringing regime change in Iran by encouraging "discontent" among Iranian people. He said claims by US secretary of state Mike Pompeo that the measures would not hit ordinary Iranians

  • Iran president says country will 'proudly' break US sanctions by selling oil

    November 5, 2018 6:10 AM 16

    Hassan Rouhani said on state TV on Monday that his nation is "confronting a bullying power" in a "situation of economic war". Hassan Rouhani, who also referred to the US as a "bullying power", made the announcement in a meeting with economists that was broadcast on state TV. The Iranian president said: "America wanted to cut to zero Iran's oil sales

  • May's 'secret' Brexit deal avoids Irish backstop

    November 3, 2018 10:33 PM 15

    A report says an all-UK customs deal will be written into the legally binding agreement governing the UK's withdrawal from the EU. The agreement will include an "exit clause" designed to convince Brexiteers that remaining in the customs union is only temporary, the newspaper said. Preparations for a final deal are also reportedly "far more advanced than previously

  • Pound jumps on report of a tentative financial services deal with the EU

    November 1, 2018 5:56 AM 18

    Negotiators have reached a tentative agreement on all aspects of a future partnership on services, The Times says. British and European negotiators have reached an agreement on all aspects of a future partnership on services, the paper said. The deal gives UK financial services companies continued access to European markets after Britain leaves the EU, as long as British

  • Budget spending hike 'a bit of a gamble' warns IFS

    October 30, 2018 12:53 PM 16

    The Institute for Fiscal Studies (IFS) said the Chancellor would be "thanking his lucky stars" that improved forecasts from the independent fiscal watchdog had delivered the additional firepower needed to deliver the boost - mainly focused on the NHS - without having to raise taxes. But the think-tank's director Paul Johnson warned that if this deteriorated

  • Virgin Money owner CYBG‎ faces new salvo in SME loans fight

    October 29, 2018 6:05 PM 13

    All Square Finance and RGL Management will say that they have joined forces in a fight over loan mis-selling, Sky News learns. Sky News understands that CYBG, which owns the Clydesdale and Yorkshire banking networks, is being targeted by a group comprising two specialist claims management firms which plan to seek hundreds of millions of pounds in compensation