Economic News
May suffers 3 defeats as MPs move to take more control of Brexit
UK Prime Minister Theresa May suffered three parliamentary defeats on Tuesday night as MPs started a marathon session of debates on her wobbling Brexit deal.
Mervyn King blasts May's Brexit plan and BoE successor Carney
Former governor of the Bank of England Mervyn King on Tuesday launched an attack on the government, likening Theresa May’s Brexit deal to appeasement tactics used with Nazi Germany in the 1930s.
Fed's Williams continues to see gradual rate hikes ahead
The head of the Federal Reserve bank of New York argued in favour of continued gradual interest rate hikes in the US in order to sustain the economic expansion.
Palladium price hits record high and gets within $10 of gold
Palladium prices are hitting record highs and could reach parity with gold, in a market considered to be in an annual supply/demand deficit, according to analysts.
French government suspends fuel-tax hike after yellow vest riots
The French Prime Minister Edouard Philippe announced on Tuesday that a proposed fuel tax hike would be suspended after fierce protests around the country against the government's economic reforms.
Record numbers of UK workers still living in poverty
Over one in five of the UK population live in poverty, including 8m who live in families where at least one person is in work, said the latest report from the Joseph Rowntree Foundation.
Retailers face nerve-wracking December as consumers hold back
UK consumer spending growth slowed last month to its lowest level of growth since March as department store and clothing spending contracted, but entertainment spending remained strong.
International money laundering crackdown sparks 168 arrests
A coordinated European money laundering crackdown involving police forces from 30 nations has arrested 168 people between September and November.
Supermarket sector speaks out against Sainsbury's-Asda merger
Grocers including Tesco, Morrisons, Lidl and Waitrose have warned antitrust regulators that the proposed £12bn merger between Asda and Sainsbury’s would severely affect the competition in the supermarket sector.
UK construction sector remains resilient in face of Brexit
UK construction activity strengthened last month, despite companies worrying that worries about Brexit are undermining demand.