U.K. equities slump as Reeves’ position triggers investor unease; European banking stocks shine LONDON: European stock markets closed slightly higher Wednesday, led by gains in continental banks and mining shares, while U.K. equities wobbled amid political uncertainty surrounding Chancellor Rachel Reeves. The pan-European Stoxx 600 index rose 0.2%, recovering from an earlier dip into negative…
LONDON: A new U.K.-U.S. trade deal took effect Monday, granting British car exports preferential tariff rates while leaving final levies on metal shipments unresolved. The agreement, the first Washington has struck since President Donald Trump announced reciprocal tariffs in April, imposes a blanket 10% duty on most British goods entering the U.S. For autos, the…
LONDON: Britain’s labor market showed signs of weakening ahead of this month’s increase in a tax on employers, data released Tuesday showed. However, strong wage growth persisted, complicating the Bank of England’s efforts to curb inflation. Financial markets indicate a 90% chance of a quarter-point interest rate cut when policymakers meet in early May, followed by…