Reuters UK/EU

BERLIN (Reuters) – Chancellor Olaf Scholz said on Thursday Germany’s economic outlook was “very good”, brushing off concerns about Europe’s largest economy after official data showed it entered a recession in early 2023. Asked about the data in a news conference, the chancellor underscored measures his government was taking, such as initiatives to attract foreign …

Germany’s Scholz says outlook good, brushing off recession worries Read More »

By Burcu Karakas and Umit Ozdal ISTANBUL/DIYARBAKIR (Reuters) -Kurds opposed to President Tayyip Erdogan fear victory for him in Turkey’s presidential election could reinforce a crackdown the state has been waging against them for years, alarmed by a surge in nationalist rhetoric ahead of Sunday’s vote. Kurds, who make up around a fifth of Turkey’s …

Kurds fear Erdogan win amid sharper nationalist rhetoric Read More »

LONDON (Reuters) -Major British mortgage lender Nationwide Building Society said it will raise the interest rates on selected new fixed-rate and tracker mortgages by up to 0.45 percentage points, with effect from Friday. Some smaller mortgage lenders had already announced rate increases – as well as temporary product withdrawals – on Thursday in response to …

UK’s Nationwide says will raise mortgage rates as markets convulse Read More »

(Reuters) – Hundreds of workers at Coca Cola Europacific Partners’ soft drink plant in Wakefield, the largest in Europe, are set to strike in June over pay offers, Britain’s Unite union said on Thursday. The strike action will be for 14 days between June 8 and June 22, according to the union. “While Unite has …

CCEP Wakefield workers to strike in June over pay Read More »

By Sachin Ravikumar and Muvija M LONDON (Reuters) -Net migration to Britain reached a record high of 606,000 last year, data showed on Thursday, drawing fresh promises from Prime Minister Rishi Sunak to reduce arrivals, but underscoring the difficulty of doing so at a time of acute labour shortages. The increase was driven by people …

Record net arrivals highlight UK’s post-Brexit migration dilemma Read More »

LONDON (Reuters) – British retail sales declined this month after a modest rise in April but stores expect sales volumes to stabilise in June as consumer confidence improves and energy prices fall, a survey showed on Thursday. The Confederation of British Industry’s (CBI) monthly distributive trades index fell to -10 in May from +5 in …

UK retail sales fall in May after April rise, outlook less gloomy: CBI Read More »

By Susanna Twidale LONDON (Reuters) -Most British households, many feeling a cost-of-living squeeze, can expect cheaper energy bills from July after regulator Ofgem slashed its price cap to reflect a slump in wholesale costs. Britain has the joint-highest rate of inflation among the Group of Seven nations along with Italy and official data this week …

Energy bills for most Britons to fall as price cap cut Read More »

By Radhika Anilkumar (Reuters) -Britain’s Pets At Home is stepping up investment in digital services such as virtual consultations, even as some pet owners cut back spending in areas such as grooming and accessories in the cost-of-living crisis. The company said on Thursday it would invest 400 million pounds ($505 million) over the next five …

UK’s Pets At Home bets on digital as owners feel the pinch Read More »

By Huw Jones LONDON (Reuters) -Banks and building societies would be required to help customers struggling to repay their mortgages and loans as interest rate rise in a cost-of-living crisis, Britain’s financial watchdog said in proposals to make COVID-era temporary rules permanent. The Financial Conduct Authority introduced temporary guidance to mortgage, consumer credit and overdraft …

UK watchdog proposes requiring banks to help struggling customers Read More »

(Reuters) -Workspace Group forecast rental income and pricing growth in its fiscal 2023/24 year after the London-focused office-space provider posted an annual loss on Thursday, hurt by a more than 3% drop in the valuation of its properties. Office space providers across the globe have been battling valuation declines due to the trend of people …

UK’s Workspace forecasts rental growth after posting annual loss Read More »