Finance

UK Supreme Court to decide Brexit trigger case as quickly as possible

Britain’s Supreme Court will decide as quickly as possible whether Prime Minister Theresa May can trigger Britain’s exit from the European Union by the end of March without parliament’s assent, its president said on Thursday. Last month, the High Court decided that May could not invoke Article 50 of the Lisbon Treaty, the EU’s exit clause, using executive powers known ... Read More »

UK manufacturers sees post-Brexit bounceback – survey

A slump in British manufacturing is showing signs of lifting thanks to higher new orders at home and the prospect of more demand from abroad spurred by the fall in the value of the pound after June’s Brexit vote, a survey showed on Monday. A stabilisation in oil prices – which could lead to more orders from the petroleum sector ... Read More »

UK services PMI hits 10-month high, points to solid fourth quarter growth

Businesses in Britain’s dominant services sector grew at their fastest pace since January last month and the broader economy maintained momentum, even if firms have some worries about the year ahead, a survey showed on Monday. The Markit/CIPS services purchasing managers’ index (PMI) – a closely watched gauge of the services sector – rose to 55.2 in November from 54.5 ... Read More »

New car sales on course for record year after November rise

British new car registrations rose by nearly 3 percent last month, an industry body said on Monday, putting the sector on course for record sales in 2016, although demand from retail customers fell for the eighth month in a row. Strong demand from businesses for fleet vehicles compensated for the fall in individual buyers, lifting overall sales by 2.9 percent ... Read More »

Reuters poll – Brexit uncertainty to keep UK house price rises muted

British house prices will rise 2 percent next year, less than what is expected from inflation and held back by uncertainty around Britain’s decision to leave the European Union, a Reuters poll of analysts found on Monday. In a survey taken ahead of the June 23 referendum, house prices – the bedrock of UK consumer wealth – were expected to ... Read More »

New blow for Hinkley Point contractor EDF after French safety checks

The company building the UK’s first new nuclear power station for decades is facing questions over the health of its fleet of French nuclear plants after an investigation which has left the country with the lowest level of nuclear power for 10 years and the prospect of power cuts during a cold snap. Thirteen of Électricité de France’s (EDF) 58 ... Read More »

Whitechapel Bell Foundry to ring in new era as owner sells site

Britain’s oldest manufacturing business, a London bell foundry that made Big Ben, could be sold after its owner decided to vacate its historic East End premises. The Whitechapel Bell Foundry began life in 1570 during the reign of Elizabeth I. It moved to its site on Whitechapel Road in 1739 and has traded from the building since. The Guinness Book ... Read More »

US economy adds 178,000 new jobs making Fed rate hike likely

An interest rate rise in the US looks a near certainty after another solid month of job creation in the world’s largest economy. In a boost to Donald Trump as he prepares to move into the White House next month, government figures showed the unemployment rate dropped to a nine-year low in November and employers hired new workers at a ... Read More »

EU leaders to hold shorter summit in December, ending with dinner without May

The regular end-of-the-year summit of European Union leaders will last this year only one day and will end with a dinner where Britain’s Prime Minister Theresa May is not invited, the indicative programme of the meeting showed on Thursday. The president of EU summits, Donald Tusk, invited leaders for a shorter one-day meeting to be held in Brussels on Dec. ... Read More »

Brexit minister says would consider paying into EU for market access

Britain would consider making payments to the European Union after it leaves to achieve the best possible access for businesses to the bloc’s markets, Brexit minister David Davis said on Thursday. The government is formulating its negotiating position ahead of formal divorce talks next year, and businesses have been seeking reassurance that it won’t seek a “hard Brexit” which would ... Read More »