New UK finance minister vows to power economy

New UK finance minister vows to power economy

New UK finance minister Rachel Reeves vowed Monday to immediately "fix the foundations" of Britain's economy, fuelled by onshore wind power and house building, after her Labour party won power. In her first major speech since being appointed the UK's first woman chancellor of the exchequer by new Prime Minister Keir Starmer, Reeves said there was "no time to waste" on reversing "the legacy of fourteen years […]

July 8, 2024 13

Business / Economics

UK Interest Rates Held Despite Falling Inflation

The Bank of England has decided to keep interest rates unchanged. They remain at 5.25%, the highest it's been for 16 years. But a rate cut could soon be on the cards, as John Bevir (Beaver) reports.

June 21, 2024 13

Business / Economics

UK economy rebounds in November: official data

Britain's recession-threatened economy rebounded in November from the previous month, official data showed on Friday. Gross domestic product expanded 0.3 percent in November after contracting by 0.3 percent in October, the Office for National Statistics said in a statement. "GDP bounced back..., led by services with retail, car leasing and computer games companies all having a buoyant month," noted ONS chief economist Grant Fitzner. "The longer-term picture remains one […]

January 12, 2024 3