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☆ UK hiring falls at fastest pace in over three years, wage growth slows
▼ + stars: | 2023-08-06 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

Workers travel through London Bridge rail and underground station during the morning rush hour in London, Britain, September 8, 2021. A gauge of permanent staff hiring by the Recruitment and Employment Confederation and accountants KPMG fell to 42.4, the lowest since the 34.3 in June 2020 when the country was in lockdown due to the COVID-19 pandemic. While starting pay for new permanent staff rose sharply by pre-pandemic standards, the rate of wage growth was the lowest since April 2021, REC said. Official data showed unemployment rose to 4% in the three months to May, a 16-month high, although annual wage growth remained at a record high of 7.3% in cash terms. REC said the availability of both temporary and permanent workers to fill jobs hit the highest since December 2020.

Persons: Toby Melville, Neil Carberry, Claire Warnes, Suban Abdulla, David Milliken Organizations: REUTERS, KPMG, REC, Bank of England, BDO, Thomson Locations: London, Britain

☆ Striking Hollywood writers, studios meet to discuss resuming talks
▼ + stars: | 2023-08-04 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +4 min

[1/5] SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line during their ongoing strike outside Paramount Studios in Los Angeles, California, U.S., August 2, 2023. REUTERS/Mario AnzuoniLOS ANGELES, Aug 4 (Reuters) - As the Hollywood writers' strike approaches the 100-day mark, Writers Guild of America (WGA) negotiators will meet on Friday with representatives of the major studios for the first time in three months to discuss whether contract talks can resume. "We challenge the studios and AMPTP to come to the meeting they called for this Friday with a new playbook," the WGA said in an email. Fox is expected to announce that television's Emmy Awards will be rescheduled to air in January due to the strikes, the Los Angeles Times reported, citing a person familiar with the plans. Reporting by Dawn Chmielewski in Los Angeles; additional reporting by Danielle Broadway in Los Angeles Editing by Mary Milliken and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Mario, Walt Disney, Fox, Jorge A . Reyes, Kevin Hill, Dawn Chmielewski, Danielle Broadway, Mary Milliken, David Gregorio Our Organizations: Writers Guild of America, Paramount Studios, REUTERS, Hollywood, Guild of America, WGA, Television Producers, Walt, Netflix, Screen Actors, Los Angeles Times, Warner Bros Discovery, Thomson Locations: Los Angeles , California, U.S, Los Angeles

☆ NatWest cuts forecast peak for BoE rates to 5.5% from 6%
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: 1 min

Signage at a branch of NatWest Bank pictured in central London, May 21, 2008. REUTERS/Luke MacGregor/File PhotoLONDON, Aug 3 (Reuters) - NatWest Markets cut its forecast for the peak in Bank of England interest rates to 5.5% after the BoE's announcement of a latest rate hike and new guidance on Thursday, down from 6% it previously forecast. "We are revising our Bank Rate forecast and now look for just one more 25bp hike to 5.5% in September," NatWest Markets' chief UK economist, Ross Walker, wrote in a note to clients. "The apparent rowing-back in the MPC's policy-tightening guidance leaves us comfortable maintaining our negative bias on sterling," NatWest added. Reporting by David Milliken Editing by William SchombergOur Standards: The Thomson Reuters Trust Principles.

Persons: Luke MacGregor, Ross Walker, David Milliken, William Schomberg Organizations: NatWest Bank, REUTERS, NatWest, Bank of, NatWest Markets, Thomson Locations: London, Bank, Bank of England

Economists polled by Reuters last week forecast BoE rates would peak at 5.75% later this year. The BoE forecast inflation would fall to 4.9% by the end of this year - a faster decline than it had predicted in May. Wage rises had been a bigger driver of high inflation than companies' profit margins, the BoE said. The BoE forecast housing investment would fall 5.75% this year and 6.25% in 2024. (This story has been corrected to clarify that the unemployment rate forecast is for late 2025, not late 2024, in paragraph 17)Our Standards: The Thomson Reuters Trust Principles.

Persons: Hollie Adams, BoE, Andrew Bailey, Catherine Mann, Jonathan Haskel, Swati Dhingra, Rishi Sunak Organizations: Bank of England, City of, REUTERS, U.S . Federal Reserve, European Central Bank, Reuters, MPC, Markets, Thomson Locations: City, City of London, Britain

☆ Bank of England set to raise rates for 14th time in a row
▼ + stars: | 2023-08-02 | by ( David Milliken | ) www.reuters.com time to read: +4 min

A pedestrian carrying an umbrella walks near the Bank of England in the City of London, Britain, July 30, 2023. Market expectations for peak Bank Rate reached 6.5% on July 11 after data showed record wage growth before falling back to 5.75% after a sharp decline in consumer price inflation. Investors see a two-in-three chance of the BoE raising Bank Rate to 5.25% on Thursday but for most economists polled by Reuters the BoE's decision is finely balanced. However, some BoE critics argue it risks causing an unnecessary downturn, and that higher rates are a poor tool to tackle inflation caused by higher food and energy prices. "The main winners are banks, whose profits have flourished thanks to higher rates," said Fran Boait, co-executive director of campaign group Positive Money.

Persons: Hollie Adams, Bailey, BoE, Rishi Sunak, James Smith, Smith, Andrew Bailey, Dave Ramsden, Swati Dhingra, Silvana Tenreyro, Megan Greene, Fran Boait, ING's Smith, David Milliken, William Schomberg, Giles Elgood Organizations: Bank of England, City of, REUTERS, U.S . Federal Reserve, European Central Bank, Mortgage, Investors, Reuters, ING, Kroll Institute, Monetary, Thomson Locations: City, City of London, Britain, Germany

☆ At striking actors' hangout bar, tiny residual checks no longer a joke
▼ + stars: | 2023-08-02 | by ( Lisa Richwine | ) www.reuters.com time to read: +5 min

"Back in the late '90s, it used to be kind of a rarity to get a tiny residual check," actor John O'Brien said. In today's streaming-TV era, small residual checks have become so customary that they helped push the SAG-AFTRA actors union to go on strike in mid-July, joining film and television writers, who walked off the job in May, in part over residual payments. O'Brien, who has appeared on dozens of shows, from "Grey's Anatomy" to "Pretty Little Liars," shared images of residual checks from more than two decades ago worth $47.49, $87.77 and $216.25. For working class actors who were not the famous, highly paid stars, the residual checks were vital to helping them pay their bills. Lower residual payments mean fewer actors earn the $26,470 per year needed to qualify for SAG-AFTRA's health insurance coverage, said actor Michael Spellman.

Persons: John O'Brien, you'd, It's, O'Brien, Michael Spellman, Walt Disney, Arabella Field, Mike Blake, bartenders, Walt, Justin Bieber, Kirk Dinsmore, you've, Dinsmore, Spellman, We're, Lisa Richwine, Mary Milliken, Rosalba O'Brien Organizations: CITY, SAG, Alliance, Television Producers, Netflix, Studio City, REUTERS, Universal Pictures, Warner Bros, Walt Disney, Writers Guild of America, WGA, Thomson Locations: CITY , California, Hollywood, Los Angeles, Los Angeles , California, U.S

[1/4] Angus Cloud, cast member of the HBO teen drama series 'Euphoria', is pictured on set in this undated handout photo. HBO/Eddy Chen/Handout via REUTERSJuly 31 (Reuters) - Angus Cloud, cast member of the HBO teen drama series "Euphoria," died on Monday at age 25 just days after the death of his father, his family said in a statement. Cloud played Fezco, an intense drug dealer with a moral code, in the series starring Zendaya in the lead role of Rue Bennett. "We are incredibly saddened to learn of the passing of Angus Cloud. He was immensely talented and a beloved part of the HBO and Euphoria family.

Persons: Angus Cloud, Eddy Chen, Handout, Cloud, Zendaya, Rue Bennett, Angus, Fezco O'Neill, Fez, Daniel Trotta, Costas Pitas, Mary Milliken, Gerry Doyle Organizations: HBO, REUTERS, Globe, Twitter, Thomson Locations: California, Fez, Angus

A Reuters poll of economists had pointed to approvals of 49,000, after 51,143 mortgages were approved in May. The value of net mortgage lending for the second quarter as a whole fell compared with the first quarter - the first quarterly contraction since records began in 1987. The BoE is expected to raise interest rates to 5.25% on Thursday from 5.0%, which would be the highest Bank Rate since 2008. "Looking ahead, growth in households' real disposable incomes will be weighed down by mortgage refinancing," said Samuel Tombs, chief UK economist at consultancy Pantheon Macroeconomics. The BoE reported a 1.661 billion pound ($2.13 billion) monthly increase in net consumer lending June, the largest such increase since April 2018.

Persons: Banks, Liz Truss, BoE, Thomas Pugh, Samuel Tombs, Andy Bruce, David Milliken, Sarah Young, Christina Fincher Organizations: Bank of, RSM, Thomson

☆ Bank of England set to raise rates to 5.25% as high inflation persists
▼ + stars: | 2023-07-28 | by ( David Milliken | ) www.reuters.com time to read: +5 min

Expectations for peak BoE rates reached 6.5% on July 11 after data showed record wage growth. But they fell back after a bigger-than-expected decline in consumer price inflation. Still, that inflation rate is nearly four times the BoE's 2% target and double the rate in the United States. Following the end of Silvana Tenreyro's tenure on the BoE's Monetary Policy Committee, fellow external member Swati Dhingra is likely to be alone in making the case that producer price inflation - rather than wage growth - is a better guide to future consumer price inflation trends. Annual producer price inflation fell to 0.1% in June, its lowest since December 2020, down from a high of nearly 20% last July, which it hit just a few months before CPI peaked at 11.1%.

Persons: BoE, Andrew Goodwin, BoE Governor Andrew Bailey, Dave Ramsden, Ramsden, Peter Schaffrik, Cathal Kennedy, Silvana Tenreyro's, Swati Dhingra, Megan Greene, Bailey, Huw Pill, David Milliken, Kirsten Donovan Organizations: Bank of England, U.S . Federal Reserve, European Central Bank, Oxford Economics, Reuters, MPC, HSBC, RBC, Committee, Kroll Institute, Tenreyro, Monetary, Thomson Locations: Britain, United States, Germany

☆ U.S. food bank gives groceries to striking Hollywood actors, writers
▼ + stars: | 2023-07-27 | by ( Jorge Garcia | ) www.reuters.com time to read: +2 min

[1/2] People take groceries as World Harvest Food Bank founder, Glen Curado (not pictured) extends free groceries to Hollywood strikers, in Los Angeles, California, U.S., July 26, 2023. REUTERS/Jorge GarciaLOS ANGELES, July 27 (Reuters) - A Los Angeles food bank created to support low-income families is now coming to the aid of striking and struggling Hollywood actors and writers, some of whom show up for free groceries with tears in their eyes. We’re barely middle class as it is," SAG member Kristina Wong told Reuters at the food bank. Wong wanted to find ways to help her fellow union members, and that meant reaching out to the founder of the food bank, Glen Curado. This is particularly true for SAG members like Niketa Calame-Harris, who appreciates the "peace of mind" going to the food bank creates for her and her daughter.

Persons: Glen Curado, Jorge Garcia, Kristina Wong, they’re, Wong, Curado, they're, he's, they've, It's, Niketa, Harris, Danielle Broadway, Mary Milliken, Aurora Ellis Organizations: Harvest Food Bank, REUTERS, Jorge Garcia LOS ANGELES, Hollywood, Screen Actors Guild, Writer's Guild of America, Reuters, SAG, WGA, Thomson Locations: Los Angeles , California, U.S, Los Angeles, Venice, United States, Glen

☆ Bank of England forecasts 150 billion pound loss from QE gilt programme
▼ + stars: | 2023-07-25 | by ( David Milliken | ) www.reuters.com time to read: +3 min

LONDON, July 25 (Reuters) - The Bank of England forecast on Tuesday that it would make a net loss of just over 150 billion pounds ($193 billion) over the next 10 years as it unwinds its quantitative easing (QE) gilt purchases, up from 100 billion pounds projected in April. In the short term, the BoE expects the government to pay around 40 billion pounds a year in 2023, 2024 and 2025, roughly 10 billion pounds a year more than its last estimate in April. Markets currently expect BoE rates to peak at 5.75% later this year, up from around 5% at the time of April's report. The BoE projections assume holdings continue to fall at their current target rate of 80 billion pounds a year. That is still more than 50 billion pounds greater than forecast in April.

Persons: Rishi, BoE, BoE Governor Andrew Bailey, David Milliken, Paul Sandle, Kylie MacLellan, Andy Bruce Organizations: Bank of England, Conservative Party, Thomson

[1/2] Margot Robbie poses on the pink carpet for the world premiere of the film "Barbie" in Los Angeles, California, U.S., July 9, 2023. REUTERS/Mike Blake /File PhotoLOS ANGELES, July 21 (Reuters) - Film fans headed to cinemas in Los Angeles for early screenings of frothy comedy "Barbie" and nuclear arms biopic "Oppenheimer" - a double feature billed as "Barbenheimer." "Barbie" stars Margot Robbie as the Mattel doll, who is living her idyllic life in Barbie World, until one day she starts having dark thoughts and flat feet. Many of the fans coming to see "Barbie" dressed up in pink and posed for pictures in a makeshift Barbie toy box. Reporting by Omar Younis and Rollo Ross in Los Angeles; Editing by Mary Milliken and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Margot Robbie, Mike Blake, Oppenheimer, Joey Litvak, Barbie, Mattel, Christopher Nolan, Cillian Murphy, J, Robert Oppenheimer, Jackie Brenneman, Cage, Claudia Ripper, Brenneman, Omar Younis, Rollo Ross, Mary Milliken, Jonathan Oatis Organizations: REUTERS, Hollywood, National Association of Theatre, Thomson Locations: Los Angeles , California, U.S, Los Angeles, LA

☆ British retail sales beat expectations in June
▼ + stars: | 2023-07-21 | by ( David Milliken | ) www.reuters.com time to read: +2 min

LONDON, July 21 (Reuters) - British retail sales rose more than expected in June, boosted by unusually hot weather and a rebound in food sales after a dip the month before when public holidays disrupted normal spending patterns, official figures showed on Friday. Retail sales volumes in June were 0.7% higher than in May, the Office for National Statistics said, a bigger increase than the 0.2% forecast by economists in a Reuters poll. Sales volumes were 1.0% lower than a year earlier, beating economists' forecasts for a 1.5% decline. "Retail sales grew strongly, with food sales bouncing back from the effects of the extra bank holiday, partly helped by good weather, and department stores and furniture shops also having a strong month," ONS chief economist Grant Fitzner said. The ONS data showed a 7.8% annual rise in the value of retail sales excluding fuel.

Persons: Grant Fitzner, King Charles ', Sterling, David Milliken, Kate Holton, Andrew Heavens Organizations: National Statistics, U.S, Industry, British Retail Consortium, Thomson

☆ At sweltering Phoenix Zoo, showers for owls and icy treats for monkeys
▼ + stars: | 2023-07-21 | by ( Liliana Salgado | ) www.reuters.com time to read: +2 min

REUTERS/Liliana SalgadoPHOENIX, July 21 (Reuters) - On Day 22 of temperatures in Phoenix exceeding 110 degrees Fahrenheit (43 Celsius), a Eurasian eagle owl enjoyed a prolonged shower on Friday while monkeys and horses ate icy treats, some laced with Gatorade. The Phoenix Zoo has come up with myriad ways to cool off animals in the historic record-breaking heat wave, including hose-downs, mister lines, cooling pads, ponds, mud water, fans and air-conditioned buildings. So this is one of the ways that we help them cool down in this heat," said zookeeper Leslie Lindholm. And over in Monkey Village, tiny squirrel monkeys pulled frozen treats out of buckets. Reporting by Liliana Salgado in Phoenix; Editing by Mary Milliken and Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

Persons: Archie, Liliana Salgado PHOENIX, Lizzie Newman, zookeeper Leslie Lindholm, Jake, zookeeper Jyl Purdy, Amy Dietz, Liliana Salgado, Mary Milliken, Rosalba O'Brien Organizations: Phoenix Zoo, REUTERS, Gatorade, The Phoenix, Thomson Locations: Arizona, U.S, Phoenix, Europe, Asia, Belgian, Monkey

☆ UK borrows less than thought but Hunt pledges budget discipline
▼ + stars: | 2023-07-21 | by ( William Schomberg | ) www.reuters.com time to read: +4 min

Although borrowing remains high after the shocks of the coronavirus pandemic and last year's energy price surge, the budget deficit in June stood at 18.5 billion pounds ($23.8 billion), down by 0.4 billion pounds from June 2022. A Reuters poll of economists had pointed to higher borrowing of 22 billion pounds last month. "Now more than ever we need to maintain discipline with the public finances," Hunt said after Friday's borrowing figures. As this week's fall in inflation showed, we will start to see results if we stick to our plan to halve inflation, grow the economy and get debt falling." However, a measure of consumer confidence fell in July for the first time since January as households felt the hit from higher inflation, borrowing costs and taxes.

Persons: Hunt, Jeremy Hunt, Rishi Sunak, Samuel Tombs, Tombs, Martin Beck, Beck, David Milliken, Angus MacSwan Organizations: LONDON, Conservative Party, National Statistics, Conservatives, Pantheon, Treasury, Thomson Locations: Britain

☆ UK rents climb a third above pre-COVID levels as tenant demand remains firm
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

Advertised rents are 9.3% higher than a year ago and 33% more than in 2019, before the COVID-19 pandemic. Tim Bannister, Rightmove's director of property science, said the big increase in rents since the pandemic reflected a significant surge in demand from tenants and contrasted with stagnant rents from 2015 to 2019. Rightmove said there were 7% more properties available for rent than a year ago, but 42% fewer than in 2019. Rightmove said 16% of properties for sale were previously on the rental market, up from 13% in January 2019. Tenant demand was 3% higher than in the same period in 2022 and 42% higher than 2019, Rightmove added.

Persons: Rightmove, Tim Bannister, Suban Abdulla, David Milliken Organizations: Thomson Locations: Britain, London

[1/5] A killer whale member of the Bigg's orca T65B pod is seen in the Salish Sea near Eastsound, Washington, U.S., July 7, 2023. While the interactions may be frightening, they have also spawned a popular social media trend that humorously suggests killer whales are rising up to attack wealthy yacht owners. Dr. Michael Weiss, research director of the Center for Whale Research, has another theory for the orcas’ behavior – it’s a fad. "We've seen killer whales do fad-like behavior, and other cetaceans have fads. In 1987, Washington’s Southern Resident orcas suddenly began wearing dead salmon on their heads, like hats.

Persons: Matt Mills McKnight, orcas, Deborah Giles, Giles, Olivia Hafey, Hafey, it's, Dr, Michael Weiss, Weiss, We're, Matt McKnight, Jane Ross, Mary Milliken, Diane Craft Organizations: REUTERS, Puget Sound, University of Washington’s, Harbor Laboratories, Southern, Center for Whale Research, Reuters, Washington’s, Thomson Locations: Eastsound , Washington , U.S, Matt Mills McKnight SEATTLE, . Washington, Portuguese, Washington’s San Juan Island, Seattle

☆ Everything's pink: How Barbiecore fashion has fueled a movie's buzz
▼ + stars: | 2023-07-20 | by ( Lisa Richwine | ) www.reuters.com time to read: +4 min

There are Barbie sneakers, Barbie backpacks, Barbie swimsuits, and Barbie hoodies for your dog. A few months later, photos showed Barbie movie star Margot Robbie on set in a hot pink Western jumpsuit. As the style took off, fashion magazines chronicled celebrities from Kim Kardashian to Harry Styles in bright Barbiecore outfits. Barbie-inspired foods include an ice cream flavor and a Barbie burger with pink sauce sold at Burger King in Brazil. Robbie, who rotated through Barbie-inspired looks during the movie's publicity tour, even rolled pink suitcases through the airport in Sydney.

Persons: Mattel Inc's, Barbie, Barbie swimsuits, Barbie hoodies, Richard Dickson, Couture, Valentino, Margot Robbie, Madeline Hirsch, Hirsch, Kim Kardashian, Harry Styles, Kendra Scott, Dreamhouse, Robbie, Ryan Gosling, Ken, Rich Daughtridge, Christopher Nolan's, Oppenheimer, Tom Cruise's, Filmgoers, Jeff Bock, Bock, Lisa Richwine, Rollo Ross, Sarah Mills, Mary Milliken, Rosalba O'Brien Organizations: Mattel, InStyle, Balmain, Old Navy, Microsoft, Burger King, Warner Bros, Malibu, Party, Relations, Thomson Locations: ANGELES, French, Burger, Brazil, Sydney, Barbiecore, Maryland, flamingo, Los Angeles, London

☆ A Minute With: Greta Gerwig on making 'Barbie' a surprising movie
▼ + stars: | 2023-07-19 | by ( Rollo Ross | ) www.reuters.com time to read: +3 min

LOS ANGELES, July 19 (Reuters) - Director, writer and actor Greta Gerwig has plunged into the world of the iconic Barbie doll to make a movie that promises to be one of the cinematic hits of the summer. Q: I wasn't expecting to wake up this morning thinking about gender politics and the history of Barbie. I’m so glad you woke up thinking thoughts you didn’t know you’d have. Q: Even though the film is set in Barbie World, how much would you say it makes people reflect on reality? Gerwig: "There were so many interesting things about Barbie to me as a cultural icon and a totem.

Persons: Greta Gerwig, Barbie, Gerwig, Noah Baumbach, Margot Robbie, Ryan Gosling, There’s, it's, I've, Rollo Ross, Mary Milliken, Leslie Adler Organizations: Reuters, Thomson Locations: ANGELES, margarita

REUTERS/Mike Blake/File PhotoLOS ANGELES, July 19 (Reuters) - Margot Robbie recalls being at a rehearsal for the upcoming "Barbie" movie and experiencing an existential crisis. "So I was like, ‘I've got to make this movie and it's the biggest movie I've ever produced, and I've got to answer to two humongous corporations and a director I really respect and actors."" Similar to Robbie's existential crisis, the "Barbie" movie follows the doll who suddenly has an existential crisis in the middle of a dance number. Even though the Barbie doll first debuted in 1959, it has taken more than 60 years for the character to get to the big screen. It's kind of for everyone," he told Reuters during the "Barbie" world premiere in Los Angeles.

Persons: Margot Robbie, Mike Blake, Robbie, ‘ I've, I've, Greta Gerwig, Barbie, Rather, Ryan Gosling, Ken, Rollo Ross, Danielle Broadway, Mary Milliken, Jamie Freed Organizations: Warner, REUTERS, Mattel, Warner Bros, Reuters, Thomson Locations: Los Angeles , California, U.S, Los Angeles

☆ UK on track for most company insolvencies since 2009
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 18 (Reuters) - England and Wales are on track for the highest quarterly number of company insolvencies since early 2009, as businesses struggle to repay COVID-19 loans against a tough economic backdrop, government figures showed on Tuesday. Over the three months to the end of June, there were 6,403 companies declared insolvent. If this figure is confirmed when official quarterly numbers are published later this month, it would be the highest non-seasonally-adjusted calendar-quarter total since the first quarter of 2009. As usual, most company insolvencies were creditors' voluntary liquidations - where company directors and creditors agree to wind up a company without a formal court order. "The drop is likely to come mainly from a fall in 'shut down' Creditors' Voluntary Liquidations where the catch-up from low points of Covid and Government support will largely be flushed out," Harris said.

Persons: Gareth Harris, Harris, David Milliken, Andy Bruce Organizations: COVID, Insolvency Service, RSM, Service, Bank of, Thomson Locations: England, Wales, May's, Bank of England, Covid

☆ UK CFOs turn wary as inflation and borrowing costs bite: Deloitte
▼ + stars: | 2023-07-16 | by ( William Schomberg | ) www.reuters.com time to read: +2 min

"The burst of business optimism seen in the spring has faded under the weight of inflation and rising interest rates," Deloitte's chief economist, Ian Stewart, said. The survey showed early signs of cooling in the labour market with CFOs signalling a further easing in recruitment difficulties and a slowdown in wage growth. The survey of 69 CFOs - 13 of them from FTSE 100 firms and 21 from FTSE 250 companies - was conducted between June 15 and June 27. The CBI called on the government to deliver a clear and stable policy environment and offer incentives for investment, among other measures. ($1 = 0.7625 pounds)Reporting by William Schomberg, editing by David MillikenOur Standards: The Thomson Reuters Trust Principles.

Persons: Ian Stewart, Corporates, Rain Newton, Smith, William Schomberg, David Milliken Organizations: Finance, Deloitte, Bank of England, of British Industry, CBI, Thomson

[1/2] Demonstrators protest at a picket line outside of St Thomas' Hospital as junior doctors strike over pay and conditions, in London, Britain, June 14, 2023. REUTERS/Toby Melville/File PhotoSummary UK accepts independent pay recommendationsDecision follows widespread industrial reactionLONDON, July 13 (Reuters) - Britain's government has decided to accept recommendations for pay increases for millions of public sector workers, treasury minister John Glen said on Thursday, giving doctors and teachers at least 6% increases. Junior doctors will now get a 6% pay uplift and a lump-sum pay increase of 1,250 pounds ($1,633.25), while teachers would get 6.5%. He also announced pay increases for police (7%) and armed forces (5%). Glen said there would be no new borrowing or spending to fund the increases although teachers' pay rises would be funded by a reallocation of the existing education department budget.

Persons: Toby Melville, John Glen, Rishi Sunaks, Glen, Muvija M, David Milliken, William James, Kate Holton Organizations: St Thomas ' Hospital, REUTERS, Bank of England, Thomson Locations: St, London, Britain

[1/2] People walk outside the Bank of England in the City of London financial district in London, Britain May 11, 2023. REUTERS/Henry Nicholls//File PhotoLONDON, July 12 (Reuters) - Britain's economy is so far proving resilient to a surge in interest rates over the past year and a half, but it will take time for the full impact to feed through, the Bank of England said on Wednesday. "The UK economy has so far been resilient to interest rate risk, though it will take time for the full impact of higher interest rates to come through," it said. It said British banks were less exposed than households to the adverse effects of higher interest rates, especially compared with financial institutions in other countries, while the corporate sector remained "broadly resilient". "Nevertheless, higher financing costs are likely to put pressure on some smaller or highly leveraged firms," it added.

Persons: Henry Nicholls, BoE, BoE Governor Andrew Bailey, David Milliken, Huw Jones, William Schomberg, Kevin Liffey Organizations: Bank of England, REUTERS, The Bank, Bank, Silicon Valley Bank, Thomson Locations: City, London, Britain, Silicon

☆ UK buyers retreat from housing market, further slowdown seen - RICS
▼ + stars: | 2023-07-12 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

LONDON, July 13 (Reuters) - Britain's housing market showed signs of a slowdown in June and property surveyors expect activity to remain subdued as higher borrowing costs hit new buyer enquiries, according to an industry survey on Thursday. The Royal Institution of Chartered Surveyors (RICS) said a net balance of -45 in a poll of its members reported a fall in new buyer enquiries last month, down from the -20 in May. Britain's housing market faces pressure from softer buyer demand and falling house prices against a backdrop of surging mortgage rates and the Bank of England's battle to tame stubborn inflation. Average two-year fixed mortgage rates hit a 15-year high earlier this week. British mortgage lender Halifax, last week said house prices fell by 2.6% year-on-year in June, the largest annual drop since 2011.

Persons: Liz Truss's, Simon Rubinsohn, Rubinsohn, Suban Abdulla, David Milliken Organizations: Royal Institution, Chartered Surveyors, Bank of, Financial, Halifax, Nationwide, Thomson

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