Britain's exit from the European Union will have a negative impact on the economy of the country, according to officials. The UK prime minister pledges to negotiate a better agreement for the nation in the union.
Tags: Uk economy
UK Inflation Holds Steady at 2%, Taylor Swift's 'Eras Tour' Seen as Possible Factor
The Bank of England is conflicted on whether to cut interest rates next month after inflation held steady at 2%, potentially influenced by Taylor Swift's Eras Tour.
UK Recovers From Recession With 0.6% GDP Growth
Recent data indicates the UK economy has exited recession with a 0.6% growth in GDP; Prime Minister Rishi Sunak praises the momentum, while the Bank of England maintains interest rates at 5.25%.
UK's service sector records 2.8% growth in January
The service sector of Britain posted a 2.8% growth in January, accounting for roughly 80% of the nation's economy. The country's GDP increased by 0.6% during the fourth quarter of 2015.
Silicon Valley Bank report says more UK start-ups prefer acquisition than IPOs
Silicon Valley Bank report shows 59% of UK start-up heads chose to be acquired rather than seek IPOs. Many UK executives consider hiring labours to be more challenging than other business issues.
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Deutsche Borse confirmed that it is in talks with London Stock Exchange regarding a potential merger. The parties remain hopeful that a possible merger transaction will take place.
Bank of England has many choices to boost Britain's economy. The bank may slack its financial policy on fears that the country may exit the European Union.
Britain is losing its faith in the chancellor George Osborne as he is readying for the annual budget in the midst of global challenges facing the nation's economy. Poor economic conditions prevented the chancellor from achieving his election targets.
BP enters into an agreement with Oman government to widen the license area of Block 61. The company strengthens its commitment in Oman with a view to broadening its business in the country.
UK mortgage approvals grew to a four-month high in December, signifying that the housing market is ready to harvest heavy gains in 2016.
London has reached the fastest growth during, leaving the other regions behind. The growth is spotted to be the result of finance, real estate, and service sectors in the region. This positive development has shown more hopes for the country economy recovery that has struggled since its financial crisis years ago.
UK's performance in the third quarter further slowed down. The gross domestic product (GDP) growth rate in July-September quarter was at 0.6 percent lower than 0.7 percent in the previous quarter.
UK GDP rose 0.9 percent in the second quarter, up from the expected value of 0.8 percent according to the report published by the Office for National Statistics. This increase suggests that the country is recovering faster than expected.
New data released by the the Office for National Statistics in London today indicated a brighter economic outlook in the UK, thanks largely to an increase in business investments and home constructions.
