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UK inflation rate unexpectedly rises to four-year high

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UK inflation resumed its upward march last month, accelerating more than forecast to the fastest pace in four years. An increase in prices for computer games, laptops and package holidays – partly reflecting the impact of the weaker pound – lifted the inflation rate to 2.9%, the highest since June 2013. Economists had forecast that it would remain at 2.7%. ...

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May resumes talks to keep power amid calls to soften Brexit

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Theresa May is under growing pressure to abandon her plan for a hard Brexit as she tries to stitch together a deal with Northern Ireland’s Democratic Unionists that will keep her Conservative Party in power. Two former Tory prime ministers broke cover on Monday to demand that May reassess her approach to leaving the European Union after she lost her ...

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World stocks march on as Fed rate hike looms, dollar steady

Traders work in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany, June 13, 2017. REUTERS/Staff/Remote

Stocks rose on Wednesday, but worries about stretched valuations and caution before a near-certain rate hike by the U.S. Federal Reserve kept their gains in check, while the dollar steadied against a basket of major currencies. The widely expected quarter-point interest rate hike will take the Fed funds target rate above 1 percent for the first time since the immediate ...

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UK service sector growth picks up in April

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Activity in the UK’s service sector accelerated in April, with new work growing at its fastest pace this year, according to a closely-watched survey. The Markit/CIPS purchasing managers’ index (PMI) for services rose to 55.8, its highest level for four months. It has now been above the 50 level that marks the divide between growth and contraction for nine months ...

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Goldman’s Blankfein says London could stall due to Brexit – BBC

CEO of Goldman Sachs Lloyd Blankfein in the Manhattan borough of New York September 29, 2014.    REUTERS/Carlo Allegri

London’s progress as a financial center could stall because of the upheaval Brexit will bring to the industry, Goldman Sachs (GS.N) Chief Executive Officer Lloyd Blankfein was quoted as saying by the BBC. When asked whether London’s long-term expansion over the past three decades would go into reverse, Blankfein said: “I don’t think it will totally reverse.” “It will stall, ...

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French bank SocGen settles dispute with Libyan Investment Authority

A view shows the logo on the headquarters's of French bank Societe Generale at the financial and business district of La Defense, west of Paris, France, April 18, 2017. REUTERS/Benoit Tessier

French bank Societe Generale (SOGN.PA) and the Libyan Investment Authority (LIA) have signed a confidential agreement to settle a legal dispute regarding a case focused on five trades totaling $2.1 billion, executed between 2007 and 2009. “Societe Generale and the Libyan Investment Authority (LIA) jointly announce that they have signed a confidential settlement agreement that resolves all matters between both ...

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Banned at sea: Venezuela’s crude-stained oil tankers

The oil tanker Caspian Galaxy sits anchored near Amuay beach, in Punto Fijo, Venezuela March 30, 2017. Picture taken March 30, 2017. REUTERS/Stringer

In the scorching heat of the Caribbean Sea, workers in scuba suits scrub crude oil by hand from the hull of the Caspian Galaxy, a tanker so filthy it can’t set sail in international waters. The vessel is among many that are constantly contaminated at two major export terminals where they load crude from Venezuela’s state-run oil company, PDVSA. The ...

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U.K:Barclays security chief faces disciplinary action

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The head of security at Barclays faces an internal disciplinary probe over his part in a whistleblowing inquiry, the BBC understands. UK financial regulators have opened an investigation into Barclays boss, Jes Staley, over the whistleblowing case. Mr. Staley asked the bank’s security chief, Troels Oerting, to find the author of an anonymous letter. The letter questioned the past conduct ...

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Europe:Investors swoop on stocks as geopolitical strains simmer

Traders work at their desks in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany, April 11, 2017. REUTERS/Staff/Remote

A break in alarming political news lifted European stocks on Wednesday and cooled a safe-haven rally that saw the yen and gold at five-month highs and top-rated government bond yields at their lowest this year. The mood remained skittish though, tarnishing an otherwise brightening outlook for global economic growth, and meant that what looked set to be oil’s LCOc1 longest ...

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UK PM May says govt will act where consumer markets not working

Britain's Prime Minister Theresa May leaves 10 Downing Street in London, March 29, 2017. REUTERS/Hannah Mckay

The British government is prepared to intervene in consumer markets to reduce costs for bill payers, Prime Minister Theresa May said on Thursday. “We believe in the good that government can do – locally and nationally,” May said at the launch of her Conservative Party’s local election campaign. “So where consumer markets are not working in the best interests of ...

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