The UK Economy

The first news I read this morning was an ADVFN story written by my compatriot, Kenneth Mondero, entitled Lloyds Reduces Loss to 570M Pounds.  If he had chosen a title of Lloyds Is Still Drowning, it would have been just as appropriate.  The next thing I read was a headline that said £1.5m Bonus for Lloyds […]

Lloyd’s Banking Group (LSE:LLOY) is ahead of its plan to transform the banking institution into a “simple, lower-risk, customer-focused UK retail and commercial” bank that supports the British economy, the London-based bank’s Chief Executive, Antonio Horta-Osorio, said in a statement Friday, in reference to the bank’s year-end report that saw a “substantial increase” in underlying […]

Bank chief Stephen Hester predicts that it will soon be ready for reprivatisation. Stephen Hester, Chief Executive of the Royal Bank of Scotland, has told the BBC that bank will be ready for reprivatisation within the next two years. Arguing that it is was the responsibility of the government, who currently has an 80% stake […]

We all know the recession is bad, but I was shocked today to see a headline that said  “One Shop Was Closed Every Hour Last Year.”  I immediately thought “That can’t be good for business.  How is that bloke going to make any income?  You’ve got to be open sometime.” Of course, then my rapier-sharp […]

Chastening has found itself a new meaning after the Royal Bank of Scotland (LSE:RBS) ended 2012 at a loss, its fifth since the financial crisis of 2008, as its profit was swallowed by a number of huge charges in what its Chief Executive said the way to “put right past mistakes”. In its report earlier […]

The full story and the fallout from the UK downgrade and the Pound Sterling falling. UK GDP Growth Grows Beyond Previous Estimate PUBLISHED:  27 Feb 2013 @ 12:11 The British economy grew more than expected, updated figures from the UK’s Office for National Statistics (ONS) revealed earlier today. In its report, ONS showed UK’s gross domestic […]

The British economy grew more than expected, updated figures from the UK’s Office for National Statistics (ONS) revealed earlier today. In its report, ONS showed UK’s gross domestic product increased by 0.3% in 2012 instead of the flat growth previously anticipated backed by a rise in output in the construction industry. UK’s quarterly performance had […]

Italian election leaves inconclusive result causing sharp market falls European markets have opened to falls following an inconclusive result in the Italian elections, with the Frankfurt and Paris exchanges falling by over 2%. Closing whilst election results were being announced New York’s Dow Jones Industrial Average fell by 1.55%. By late morning trading Europe’s major […]

Increasing pressure on UK Chancellor after Moody’s downgrade and sterling concern. The UK’s senior economics minister George Osborne has said the government will “redouble its efforts” to reduce the country’s debts after rating’s agency Moody’s downgrade the UK from AAA to Aa1. Speaking in a House of Commons debate Mr Osborne argued that the rating […]

Energy giant Centrica announces report highlighting its economic benefits Multinational utility company Centrica contributes £14.1bn to the UK economy according to a report by Oxford Economics. Published ahead of the companies full-year results, which are expected to show a 15% rise to £2.77bn, Centrica are hoping the report will fend off public criticism over profits […]