UK shop price inflation strikes new record high

British shop price inflation picked up this month to reach its highest rate since industry records began in 2005, although growth in food prices cooled slightly, a survey showed on Tuesday.

Sterling rises

Sterling rose against a weaker dollar on Tuesday, but stickier than expected British inflation remains in focus ahead of a quiet week for the country’s data calendar.

Volkswagen to sell Russian assets to local company

German carmaker Volkswagen said Friday it had completed the sale of its Russian assets to local dealership group Avilon, as part of its exit from the country following Moscow’s invasion of Ukraine.

Europe set for two new gigafactories

Two electric vehicle battery makers plan to spend around 10 billion euros ($11 billion) on factories in Europe, they said on Friday, after Europe loosened state aid rules for green industry projects in a bid to win the subsidy race with the US.

NON-MARKET PRACTICES / EU, US to pledge joint action over China concerns

Washington and the EU will pledge joint action to tackle concerns focused on China about non-market practices and coordinate their export controls on semiconductors and other goods at a meeting this month, a draft statement showed.

Rumee A Hossain re-elected as board executive committee chairman of Bank Asia

Rumee A Hossain has been re-elected as the chairman of the board executive committee of Bank Asia Limited at a meeting of the Board of Directors held recently.

German investor mood darkens in May

German investor confidence fell sharply in May, a key survey showed Tuesday, adding to fears of a downturn in Europe’s biggest economy.

2w ago

UK jobless rate rises

Britain’s unemployment rate rose and there were other signs of less inflationary heat in the labour market in data published on Tuesday, prompting investors to scale back some of their bets on further Bank of England interest rate hikes.

2w ago

EU increases 2023 growth, inflation forecasts

The European Commission boosted its 2023 economic growth outlook for the eurozone on Monday but it also raised the inflation forecast for the single currency area.

2w ago

UK economy ekes out growth in Q1

Britain’s economy grew 0.1 per cent over the first quarter despite weakening in March, official data revealed Friday, as output continues to be hit by high inflation and strikes.

2w ago

EU ministers back plan to reduce economic reliance on China

European Union ministers on Friday backed reducing the bloc’s economic dependence on China but will now have to figure out how to make that a reality, foreign policy chief Josep Borrell said.

2w ago

G7 finance chiefs move to diversify supply chains

The G7 plans to launch a partnership scheme to diversify supply chains this year, the group’s finance ministers said Saturday following talks in Japan ahead of a major summit next week.

2w ago

UK targets big tech to boost online consumer rights

Global tech giants could face fines of up to 10 per cent of their annual turnover if a British government bill to protect consumers launched on Tuesday becomes law.

Rising costs force UK firms to compromise on sustainability: survey

British businesses are struggling to meet their sustainability goals due to rising energy prices, costs associated with international trade barriers and the impacts of the Covid-19 pandemic, a survey showed on Thursday.

German investor morale falls again

German investor confidence unexpectedly fell in April for the second straight month, a survey showed Tuesday, due to lingering fears about the banking sector and concerns about stubbornly high inflation.

Big UK firms shrug off banking turmoil

Finance executives at top British firms have reported the sharpest rise in optimism since late 2020 and the recent upheaval in the global banking sector has not dented the mood, a quarterly survey by Deloitte showed on Monday.