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UK construction sector growth fell 3.4% in January

UK construction output fell 3.4% in January 2018 compared to December 2017, the largest monthly decline since June 2012, according to the Office for National Statistics (ONS). The ONS said that weak growth … Continue reading “UK construction sector growth fell 3.4% in January”


Sainsbury’s to increase basic pay rate, remove Sunday working premiums

Sainsbury’s has announced a shake-up of working conditions for its employees, according to the Guardian. Staff are to receive a higher rate of basic pay but paid breaks and Sunday premium pay and … Continue reading “Sainsbury’s to increase basic pay rate, remove Sunday working premiums”


AXA to buy XL Group for $15.3bn

AXA is to acquire 1005 of XL Group Ltd, according to Actuarial Post. The purchase price is said to be $15.3bn, to be paid in cash. Under the terms of the agreement, which … Continue reading “AXA to buy XL Group for $15.3bn”


New Look to enter a CVA

UK fashion retailer New Look has announced a plan to close 60 stores in a bid to avoid going into administration, according to BBC News. The fashion chain’s rescue Company Voluntary Agreement (CVA), … Continue reading “New Look to enter a CVA”


Ofgem rule change for energy network company investments

New rules from energy regulator Ofgem could see UK consumers save £5bn on bills over five years, according to BBC News. The energy watchdog wants to reduce the amount customers pay towards improving … Continue reading “Ofgem rule change for energy network company investments”


Ex Co-op bank chairman banned from financial services

Paul Flowers, the former chairman of the Co-operative Bank, has been told he may never work in financial services in the UK again, according to Reuters. The Financial Conduct Authority (FCA) announced the … Continue reading “Ex Co-op bank chairman banned from financial services”


Halifax figures confirm UK house price slowdown

The latest Halifax house price figures show that growth is continuing to slow, according to Best Advice. In the three months leading to February 2018, prices were 1.8% higher than the three months … Continue reading “Halifax figures confirm UK house price slowdown”


Lord Mayor of London calls for post-Brexit mutual recognition

The Lord Mayor of the City of London has said the goal of mutual recognition between UK and EU regulations following Brexit is ambitious but achievable, according to Reuters. As Brexit negotiations continue … Continue reading “Lord Mayor of London calls for post-Brexit mutual recognition”


EU considers tariffs on US exports

The EU is set to retaliate against US tariffs on steel imports by imposing import duties on US products including peanut butter, bourbon whisky, orange juice, cranberries, steel and industrial products. EU trade … Continue reading “EU considers tariffs on US exports”


UK economy sees weak growth in Q4 2017

The UK economy saw lower growth than anticipated in Q4 2017, according to official figures reported by BBC News. The Office for National Statistics (ONS) found that GDP grew by 0.4% in October … Continue reading “UK economy sees weak growth in Q4 2017”


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