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Government borrowing falls in December

Government borrowing falls in December

Image copyright Getty Images Government borrowing fell by £0.4bn in December to £6.9bn, compared with 2015. The figures, from the Office for National Statistics, means borrowing for the year is £63.8bn, £10.6bn lower than for the same period a year ago. The last Autumn Statement indicated that the government would borrow £68bn over the full […]

BMW U-turn over comparison site listings

BMW U-turn over comparison site listings

Image copyright Getty Images BMW and its Mini offshoot have caved in to demands to let dealers put their cars on a price comparison site. The U-turn comes as the competition regulator was threatening an inquiry. The pressure is being seen as a clear signal to firms that they must not stop the public taking […]

British Gas Business pays £9.5m penalty

British Gas Business pays £9.5m penalty

Image copyright PA British Gas Business will pay a penalty of £9.5m after its customers suffered billing and complaints issues, the energy regulator has said. Inaccurate and delayed bills were given to business customers after the provider put in a new £40m computer system in 2014, Ofgem said. The penalty will be paid as compensation […]

FTSE 100 rises as sterling slides

FTSE 100 rises as sterling slides

Image copyright Getty Images UK shares rose as the Supreme Court ruling on Article 50 hit the value of the pound. The court ruled that Parliament must vote before the Brexit process begins, but also said that the Scottish, Welsh or Northern Irish assemblies did not have to be consulted. This latter point hit sterling, […]

Theresa May to promise to take action for British industry

Theresa May to promise to take action for British industry

Image copyright Reuters Prime Minister Theresa May is to unveil a new, more interventionist, industrial strategy on Monday, designed to boost the post-Brexit UK economy. The government will be “stepping up to a new, active role”, Mrs May said. She will launch the new strategy at her first regional cabinet meeting, to be held in […]

Trump’s economic plans: What do we know so far?

Trump’s economic plans: What do we know so far?

Image copyright Getty Images Image caption President Trump will talk trade with UK Prime Minister Theresa May on Friday Donald Trump says he will not delay “making America great again” – and the new US president has already begun unpicking some of his predecessor’s policies, including Barack Obama’s signature healthcare system. So some quickfire changes […]

Lloyds cyber-attack details emerge

Lloyds cyber-attack details emerge

Image caption At the time, the group attributed the breakdown to “technical problems” Lloyds Bank was the target of a cyber-attack nearly two weeks ago which stopped a substantial number of customers using their online accounts. The breakdown in service from the group, including Halifax and Bank of Scotland, came after the websites were overwhelmed […]

UK growth ‘to slow as economy rebalances’

UK growth ‘to slow as economy rebalances’

Image copyright PA The UK economy will see three years of “relatively slow growth” as it comes to rely more on trade and less on consumer spending, a think tank says. The influential EY Item Club said higher inflation caused by a weaker pound would result in GDP growth of 1.3% in 2017 and just […]

Trump’s election win costs Paddy Power Betfair £5m

Trump’s election win costs Paddy Power Betfair £5m

Image copyright Getty Images Donald Trump’s surprise win in the US presidential election cost Paddy Power Betfair nearly £5m, the bookmaker has said. The company added that it had also lost money on football bets in December. Paddy Power Betfair said it expected the total impact of “customer friendly” results in the final three months […]

Bank raises 2017 UK growth forecasts

Bank raises 2017 UK growth forecasts

Image copyright Reuters The Bank of England has raised its growth and inflation forecasts for 2017 and kept interest rates on hold at 0.25%. It increased its prediction for economic growth from 0.8% to 1.4% for next year, but cut the 2018 forecast from 1.8% to 1.5%. The higher growth forecast for 2017 prompted the […]