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UK services ‘continue to recover’ from Brexit vote

UK services ‘continue to recover’ from Brexit vote

Image copyright Getty Images The UK services sector continued to recover last month, after a sharp drop in activity following the Brexit vote, according to a closely watched survey. The Markit/CIPS services purchasing managers’ index (PMI) stood at 52.6, down from August’s 52.9, but above the 50 level which indicates expansion. On Monday, the manufacturing […]

FTSE 100 on track for record closing high as sterling falls

FTSE 100 on track for record closing high as sterling falls

Image copyright Getty Images The FTSE 100 share index has risen above 7,100 for the first time since April 2015, as sterling fell to a 31-year low against the dollar. London’s leading share index jumped 1.8%, or 126 points, to 7,110 – above its previous record close of 7,103.98. However, the pound fell to $1.2737 […]

Finance sector should junk the jargon, says Bank analyst

Finance sector should junk the jargon, says Bank analyst

Image copyright Gajus Image caption Financial jargon risks worsening a “great divide” between banks and the public, says Mr Fullwood Do you know what a bear market is? Or how about credit correlation, a short position or operational risk? Such terms may be run of the mill for those in the financial industry. But to […]

UK faces critical shortage of homes to rent, says Rics

UK faces critical shortage of homes to rent, says Rics

Image caption Activity in the housing market is picking up, surveys suggest The UK is facing a “critical rental shortage” which requires a building programme to focus on providing for tenants, a surveyors’ body has said. At least 1.8 million more households will be looking to rent rather than buy a home by 2025, the […]

Is government spending on roads and railways a good idea?

Is government spending on roads and railways a good idea?

Image copyright Getty Images The Conservative government seems to be taking a new tack. It is already planning to spend lots of money on big projects like HS2, a new Hinkley nuclear power station, and maybe even a new airport runway in south east England. Now the new Chancellor, Philip Hammond, is in favour of […]

Brexit ‘rollercoaster’ warning as Hammond axes deficit target

Brexit ‘rollercoaster’ warning as Hammond axes deficit target

Image copyright PA Chancellor Philip Hammond has said he will prioritise spending on new homes and transport rather than following his predecessor George Osborne’s aim to balance the books by 2020. He told the Conservative conference the deficit was still too large and would need to be tackled “in due course”. But he said the […]

Pound falls as Theresa May indicates Brexit date

Pound falls as Theresa May indicates Brexit date

Sterling has fallen to a three-year low against the euro after Theresa May outlined the timetable for starting Brexit negotiations. It also hit its lowest level against the dollar since the beginning of July. On Sunday, the prime minister said she would trigger Article 50, the clause needed to start the process, by the end […]

Wonga admits double-charging customers

Wonga admits double-charging customers

Image copyright PA The UK’s biggest payday lender – Wonga – has admitted that it double-charged 7,000 customers for their loans on Friday. It says an internal system error resulted in extra payments being taken from bank accounts. The customers affected have what are known as Flexi loans, which have to be paid off in […]

UK manufacturing growth ‘best for two years’

UK manufacturing growth ‘best for two years’

Image copyright PA The UK’s manufacturing sector surged in September, growing at its fastest level since June 2014, a closely watched survey has indicated. The Markit/CIPS purchasing managers’ index (PMI) for the sector rose to 55.4 in September from 53.4 in August. A figure above 50 indicates expansion. The weakening of the pound following the […]

Facebook Messenger ‘slims down’ for old phones

Facebook Messenger ‘slims down’ for old phones

Image copyright AP Facebook has announced a “slimmed down” version of its Messenger app for countries where older smartphones and slower net speeds are more common. The company said Messenger Lite had the “core features” of the full app such as the ability to share text and photos. The app will compete with Facebook-owned WhatsApp, […]