Asian billionaires embark on UK spending spree as pound nosedives | News

Asian billionaires embark on UK spending spree as pound nosedives | News

China’s president, Xi Jinping, and David Cameron famously sealed their countries’ “golden era” friendship in 2015 over a pint of Greene King IPA at the Plough at Cadsden, a five-minute drive from the then prime minister’s Chequers country residence. They were clearly a nice couple of pints. A year later the Chinese investment firm SinoFortone […]

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RBS and Santander rapped over PPI failures – business live | Business

RBS and Santander rapped over PPI failures – business live | Business

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. The UK’s competition regulator has ordered Royal Bank of Scotland and Santander to appoint an independent body to audit their PPI processes after they failed to tell thousands of customers about their policies. The Competition and […]

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UK GDP: official data to show economy flatlined in second quarter – business live | Business

UK GDP: official data to show economy flatlined in second quarter – business live | Business

Good morning and welcome to our rolling coverage of business, markets and economics in the UK and the Eurozone. And welcome to GDP day in the UK. After a whipsaw start to the week on global markets thanks to US President Donald Trump’s attack on alleged “currency manipulation” by China, things settled down into a […]

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Brexit weekly briefing: election speculation and sliding sterling | Politics

Brexit weekly briefing: election speculation and sliding sterling | Politics

Welcome to the Guardian’s weekly Brexit briefing. If you would like to receive this as a weekly email, sign up here. You can also catch our monthly Brexit Means … podcast here. And for daily updates, head to Andrew Sparrow’s politics live blog. Top stories Boris Johnson held firm on his “do-or-die” promise to take […]

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Pound sinks to fresh low against dollar amid no-deal Brexit fears | Business

Pound sinks to fresh low against dollar amid no-deal Brexit fears | Business

The pound fell below $1.21 for the first time since January 2017 as concerns mounted that the UK is heading for a no-deal Brexit. Sterling fell to $1.2085 before edging up to $1.2104, down 0.45% against a stronger US dollar. Against the euro the pound fell 0.01% to €1.0978. The dollar rose on currency markets […]

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Bank of England warns of 1 in 3 chance of Brexit recession | Business

Bank of England warns of 1 in 3 chance of Brexit recession | Business

Britain has a one in three chance of plunging into recession as uncertainty over Brexit drags down the economy, the Bank of England has warned. Keeping interest rates on hold as the risks to the economy mount, the central bank said business investment was stalling, while heightened international trade tensions and a slowdown in the […]

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Markets await Bank of England interest rate decision and economic forecasts – business live | Business

Markets await Bank of England interest rate decision and economic forecasts – business live | Business

8.07am BST08:07 Pound weakens to 2 1/2 year low of $1.2101 The pound is weaker against the US dollar this morning, after a 0.7% bounce yesterday afternoon turned out to be short-lived. This is mainly because the dollar jumped after Fed chief Jerome Powell ruled out a long series of rate cuts following yesterday’s quarter-point […]

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Stock markets await eurozone growth data ahead of Fed rate decision – business live | Business

Stock markets await eurozone growth data ahead of Fed rate decision – business live | Business

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. After yesterday’s heavy losses, European markets are expected to bounce back today ahead of the US Federal Reserve’s rate decision. A number of disappointing corporate earnings reports and weak economic data, along with trade and Brexit […]

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As sterling falls, will PM alter course or risk price hikes as election looms? | Business

As sterling falls, will PM alter course or risk price hikes as election looms? | Business

British holidaymakers heading abroad for their summer holidays might not thank him for it, but the fall in the value of the pound to its lowest level in 28 months is evidence that Boris Johnson’s Brexit strategy is having an impact. The currency markets never took the idea seriously that the UK would leave the […]

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