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Top related persons:
“ - 2 Gary Smith - 2 ” - 2 Jeremy Hunt - 2 Rishi Sunak - 1 ” Sunak - 1 GMB - 1 Andrew Bailey - 1
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United Kingdom Ireland British Port Talbot Wales steelmaking Britain Germany
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Bank of England - 2 “ - 2 London CNN — - 1 National Statistics - 1 Chambers of Commerce - 1 Barclays Private Bank - 1 NatWest - 1 Accenture - 1

Search resuls for: "GARY SMITH"


3 mentions found


☆ UK inflation has halved this year but economic growth remains elusive
  + stars: | 2023-11-15 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +4 min
London CNN —UK inflation plunged to its lowest level in two years in October, allowing Prime Minister Rishi Sunak to declare victory on his pledge to halve the rate of price increases this year. Services inflation fell but remained high, at 6.6%. “The UK economy is still very much facing stagflation and, in our view, the road ahead will likely continue to be bumpy,” said Julien Lafargue, chief market strategist at Barclays Private Bank. Stagflation refers to a toxic mix of high inflation and low, or no, economic growth. There is also evidence that higher interest rates are placing an increasing strain on the economy.
Persons: Rishi Sunak, “, ” Sunak, Gary Smith, GMB, ”, Andrew Bailey, Alex Veitch, Sunak’s, —, Julien Lafargue, ” Ewan Mackay, Jeremy Hunt, Veitch Organizations: London CNN —, National Statistics, Bank of England, Chambers of Commerce, “, Barclays Private Bank, NatWest, Accenture, P, British Chambers of Commerce Locations: United Kingdom, Ireland, British
☆ Around 3,000 Jobs at Risk at UK's Biggest Steelworks Despite Government-Backed Package of Support
  + stars: | 2023-09-15 | by ( Associated Press | Sept. | At A.M. | ) www.usnews.com   time to read: +3 min
“This proposal is a landmark moment for maintaining ongoing U.K. steel production, supporting sustainable economic growth, cutting emissions and creating green jobs,” said Treasury chief Jeremy Hunt. “With the support of the U.K. government and dedicated efforts of the employees of Tata Steel U.K. along with all stakeholders, we will work to transform Tata Steel UK into a green, modern, future-ready business," said Tata Steel’s chief executive and managing director, TV Narendran. Unions were furious about the potential job losses at Port Talbot, which at its height in the 1960s employed around 20,000 people, before cheaper offerings from around the world hit production. "The cost to local people and the wider Port Talbot community will be immense," said Gary Smith, general secretary of the GMB trade union. He noted that Germany has invested over $53 billion in decarbonising heavy industry and has committed to work with unions and protect jobs.
Persons: ”, Jeremy Hunt, Tata, Gary Smith, “, Luke Murphy Organizations: Tata, Britain’s Department for Business, Trade, “, Tata Steel, Tata Steel UK, Unions, Port Talbot, Institute for Public Policy Research Locations: Port Talbot, Wales, steelmaking, Britain, Germany
☆ VIEW Bank of England delivers hefty rate hike
  + stars: | 2023-06-22 | by ( ) www.reuters.com   time to read: +6 min
Traders scrambled to price in a peak to UK rates of as much 6% and its implications for the risk of recession, and rate-sensitive stocks like banks and homebuilders slid. MONEY MARKETS: UK 2-year gilts dropped sharply, then rose after the decision but were last unchanged at 5.04%. But even if the bank hasn't offered up any new guidance, the rate decision itself is revealing. The UK has the unenviable title of highest core inflation rate in the G7, and by quite some margin. "Having said that, their policy is now more data dependent, the bank had to deliver a rate increase.
Persons: homebuilders, Sterling, gilts, JAMIE NIVEN, JAMES SMITH, hasn’t, hasn't, BoE, SEEMA SHAH, CHRIS BEAUCHAMP, Bailey, PAUL OBERSCHNEIDER, BOE, ” ROBERT JEFFREE, GARY SMITH, EVELYN, Yoruk Organizations: Bank of England, MPC, Traders, CANDRIAM, ING, LONDON, IG GROUP, Treasury, EMEA, Thomson
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