Economic News
CBI marks up UK GDP forecasts but says risks remain high
One of the country's leading business lobby groups marked up its short-term forecasts for the economy even as it warned risks to the economy remain high because of uncertainty related to Brexit and given the potential for higher-than-expected volatility in financial markets.
London close: FTSE rises as mining, oil majors gain; Brexit negotiations underway
London stocks pressed ahead to a positive close as the UK began formal divorce talks with the European Union, and as the shares of multi-commodity miners and oil majors decided overall direction.
Fed's Dudley not paying much attention to signals from bond market, reports say
Stay the course, the head of the Federal Reserve bank of New York said at the start of the week.
Silvana Tenreyro appointed to MPC to replace Kristin Forbes
Chancellor Philip Hammond has approved the appointment of Professor Silvana Tenreyro as an external member of the Bank of England's interest rate-setting Monetary Policy Committee (MPC).
Davis heads into first Brexit negotiations with confusion reigning
Brexit secretary David Davis will meet the European Union's chief negotiator Michel Barnier in Brussels on Monday morning to formally begin discussing the terms of the UK's divorce.
Citi cuts iron ore price forecasts
Analysts at Citi lowered their forecasts for the price of iron ore over the next twelve months, telling clients that lower prices were needed in order for the market to re-balance and in anticipation of waning Chinese growth.
Momentum in euro area construction increasing, economists say
Construction output in the euro area edged higher in April despite weakness in civil engineering.
Japanese seasonally adjusted trade surplus slips in May
Japanese exports and imports failed to rebound in May, suggesting that foreign demand acted as a drag on the broader economy during the second quarter, but some economists were nevertheless optimistic.
House asking prices tumble in London and South East, Rightmove reveals
Asking prices for houses in the UK are being cut at the sharpest rate in over four years amid political and economic uncertainty, as London and the South East underperformed the rest of the UK.
France's Macron wins comfortable majority, but abstention at record-high
French president Emmanuele Macron's upstart centrist movement and his allies won a comfortable majority in legislative elections at the weekend, albeit amid a record low turnout, a stark reminder that a large minority of French are opposed to his plans.