Turning the UK economy around will “take time”, Sir Keir Starmer said after the latest figures showed weaker-than-expected growth. The figures for November showed a return to growth for the first time since August but at a level which offered little respite to embattled Chancellor Rachel Reeves. The Office for National Statistics (ONS) estimated the … Read more
(Reuters) -European luxury shares soared on Thursday as Cartier owner Richemont’s (CFR.SW) third-quarter sales beat revived optimism for the battered sector. Richemont shares jumped around 16% to an all-time high of 161.40 Swiss francs, surpassing their May 2023 high of 161.10 francs, and were set for their biggest intraday rise since October 2008. Analysts at … Read more
TikTok is preparing to shut off the app from US users completely on Sunday unless the supreme court intervenes to block the law, according to tech news site The Information.Photograph: Dado Ruvić/Reuters Donald Trump is considering suspending a TikTok ban in the US with an executive order when he enters the White House on 20 … Read more
GENEVA (Reuters) – Global unemployment remained steady last year at an historical low of 5%, where it is set to stay in 2025, the International Labour Organization said in a report on Thursday. However, the Geneva-based body said that a global economic slowdown from 3.3% to around 3.2% last year, and a gradual deceleration over … Read more
Mortgage defaults have risen for an eighth consecutive quarter as UK households struggle with higher borrowing costs amid a cost of living crisis. According to the Bank of England’s latest Credit Conditions Survey for Q4 2024, lenders reported an increase in default rates on secured loans to households. Losses given default on these loans continued … Read more
(Reuters) – U.S. stock index futures ticked up on Thursday, ahead of quarterly results from some of the country’s major lenders, and economic reports that could offer insights into the health of the world’s largest economy. At 04:48 a.m. ET, Dow E-minis were up 6 points, or 0.01%, S&P 500 E-minis were up 12.25 points, … Read more
Business Secretary Jonathan Reynolds has said he is worried about a potential trade war after Donald Trump returns to the White House and stressed that tariffs are “paid for by your own people”. Mr Trump has signalled he is willing to introduce tariffs on goods coming from Canada and Mexico, two of the US’s biggest … Read more
DAWN raids linked to an investigation over a drug conspiracy have seen 12 people arrested. Officers from North West Regional Organised Crime Unit executed warrants in Warrington and further afield yesterday morning, Wednesday. The raids across Cheshire, Greater Manchester, Lancashire, Merseyside and north Wales were supported by additional officers from local forces. In total, teams … Read more
The pound headed lower against the dollar on Thursday, despite fresh data from the Office for National Statistics showing the UK economy grew 0.1% in November. Sterling was 0.3% lower against the dollar in morning trade, heading to the $1.22 mark, its lowest level since November 2023. Sterling had gained on Wednesday due to an … Read more
NEW YORK/LONDON (Reuters) – When Bill Clinton began his first term as president in 1993, he faced a challenge to his authority from an unexpected adversary: bond traders. Low taxes and high defense spending over the prior decade had contributed to U.S. debt doubling as a share of economic output. Clinton and his advisers worried … Read more