Wirtschaft/ Politik Großbritannien      10872.3955     -0.69%     (FTSE 100 Kurs)

 

Britain's Problems Didn't Begin With Brexit Authored by Jason Sorens via  The Daily Economy, Ten years ago, Britons voted to leave the European Union, launching three and a half years of tumultuous negotiations and domestic political ructions, only subsiding after the UK's official withdrawal in January 2020. It's tempting to see Brexit as a watershed moment in Britain's political economy. Britons themselves now tend to regret the choice rather than affirm it, with narrow majorities affirming that Brexit has been “more of a failure” and supporting restoring free movement with the EU in exchange for single-market access. Contrary to some forecasts, Brexit has been closer to an economic blip than a disaster. Figure 1 shows net disposable household income per capita in the UK and comparable countries. While Ireland has rocketed ahead of this whole group, it's difficult to see any worse economic performance in the UK compared to France and Germany since 2020. Figure 1: Disposable In...

Growers in dismay after scorching weather and lack of rain affect yields, sending wholesale prices rocketingPubs, restaurants and supermarkets are having to buy lettuce and broccoli from Spain at what should be the height of UK growing season, as drought and extreme heat hit crops.The wholesale price of tomatoes is up by more than 60%, iceberg lettuce by 90% and potatoes by more than 40% as a number of farmers struggle to grow in consistently high temperatures. Even those with irrigation systems and reservoirs on their farms say water is running low. Continue reading......

Matthew Tillett, of Premier Miton UK Value Opportunities, says larger companies may stop outshining their smaller peers....

Clear blue water is emerging on the Bank of England's rate-setting committee with its three hawks now looking increasingly stranded in their push for higher interest rates....

Bank of England Chief Economist Huw Pill said the wild swings in energy and commodity prices due to the Iran war could linger into 2027, highlighting the risk that inflation stays elevated for longer and forces policymakers to respond...

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Linz (www.anleihencheck.de) - Die Bank of England hat ihren Leitzins am Donnerstag zum fünften Mal in Folge unverändert gelassen, wie von den meisten Ökonomen erwartet, so Oberbank in ihrem aktuellen Tageskommentar zu den internationalen Finanzmärkten. Bemerkenswert sei die Abstimmung gewesen: Mit sechs zu drei Stimmen sei die Entscheidung so knapp aus wie seit Langem nicht mehr gefallen. [mehr]...

Rohstoffwährungen sind auf Jahressicht weiterhin die Gewinner --- Seit Jahresanfang verloren insbesondere die niedrig verzinsten Währungen an Wert. Auch im Juli hingen Gewinner und Verlierer hauptsächlich an den Zinserwartungen --- Norwegische Krone gewann wegen des wieder gestiegenen Ölpreises im Juli hinzu --- US-Dollar nur leicht im Minus, nachdem Anleger die Notenbanksitzung als wenig falkenhaft interpretierten..

BP has put its North Sea oil and gas business up for sale as it looks to end six decades of production from the region.The firm announced on Friday morning that it had launched a formal process to market its North Sea business for a potential sale. The move comes as BP's new chief executive, Meg O'Neill, tries to simplify the company and cut its debt levels..

Price of an average home now £277,542, up from £277,484 the previous month but lower than in May, says NationwideBusiness live – latest updatesEconomic uncertainty dampened UK house price growth in July as prospective house buyers remained cautious about interest rates during the US war with Iran in what should be peak housebuying season.House prices rose by just 0.1% in July from a month earlier, according to the lender Nationwide, while annual price growth slowed to 1.8% this month, down from 2.2% in June. Continue reading......

BP is exiting the North Sea as it puts the business up for sale ending 60 years of production in the basin....

PM tells reporters the government cannot ignore the energy resource 'when people are struggling'Andy Burnham has said he will take a “pragmatic” approach to oil and gas drilling in the North Sea, saying the government could not ignore the potential energy resources it holds.The prime minister's comments came in response to a question about his conversation with Donald Trump on his first day in No 10. Trump had said Burnham told him he would “open up” North Sea oil, something the UK summary of the call made no mention of. Continue reading......

Bailey's comments came as the Bank of England's Monetary Policy Committee voted 6-3 to keep to borrowing costs at 3.75%....

LONDON (dpa-AFX) - The Bank of England maintained its interest rate in a split vote as renewed tensions in the Middle East reignited fears of high inflation becoming persistent.The Monetary Policy......

Split vote comes as Iran war is rekindled and oil price climbs back above $90 a barrelBusiness live – latest updatesThe Bank of England has kept UK interest rates on hold as it warned that a further escalation in the Iran war could drive inflation above 4% next year, adding to cost of living pressures on households.Against a volatile backdrop in the Middle East conflict, the Bank's monetary policy committee (MPC) voted by six to three to keep its key base rate at the current level of 3.75%. Continue reading......

Bank's wariness about inflationary pressures from the conflict lie behind decision to hold steady at 3.75%Business live – latest updatesThere is a threat of high inflation coming to the UK, but only from the conflict in the Middle East which could keep oil prices high for much longer than was expected when Donald Trump first began attacking Iran.It is the war that makes the difference between a benign outlook for inflation and one that puts it back on a rising trajectory, top UK central bankers believe. Continue reading......

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BRUSSELS (dpa-AFX) - The U.K. stock market's benchmark index FTSE 100 climbed to a fresh record high Thursday morning and hovered slightly below that mark in early afternoon trades with investors ......

Hannover (www.anleihencheck.de) - Die Bank of England hat den Leitzins erwartungsgemäß bei 3,75% belassen und damit ihren abwartenden Kurs fortgesetzt, so die Analysten der Nord LB. Die Entscheidung falle in eine Phase außergewöhnlich hoher Unsicherheit. Während sich die Inflationsdynamik in den vergangenen Monaten spürbar abgeschwächt habe, würden die geopolitischen Spannungen im Nahen Osten weiterhin für erhebliche Risiken und starke Schwankungen an den Energie- und Rohstoffmärkten sorgen. [mehr]...

LONDON (dpa-AFX) - The Bank of England kept its interest rate unchanged, as widely expected, in a split vote on Thursday.The Monetary Policy Committee, led by Governor Andrew Bailey, voted 6-3 to ......