Britain Financial News

Shop price inflation fell from 2.9% at the start of the year to 2.5% in February, the weakest pace of increase in nearly two years, according to the British Retail Consortium and NielsenIQ's latest shop prices inflation index. Consumer confidence dips for first time in three months Helen Dickinson, chief executive at the British Retail Consortium, said easing input costs for energy and fertiliser had caused the month-on-month declines in the price of fresh food, including meat, fish and fruit. Regarding non-food, she said inflation for furniture, electricals and health and beauty p...

In an interview with the FT, Therese Chambers, joint executive director of enforcement and market oversight at the Financial Conduct Authority, suggested the regulator was planning on naming firms it was probing earlier in the process in a bid deter firms from straying outside of the rules. Listings reform will not cure 'general disinterest and malaise' in UK capital markets According to the FT, the new approach will be outlined in a consultation paper set to be published today (27 February). It said the changes would largely apply to firms over individuals. «More transparency a...

By Huw Jones

Congress in Karnataka and BJP have locked horns over UK professor Nitasha Kaul being denied entry into India for the state-organised conference on the Constitution over the last weekend. The ruling Congress has hit out at the BJP, calling the incident yet another example of how the Centre restricts both individual and state rights. “It is a stark reminder of the multiple challenges to the constitutional idea of India. All patriotic Indians must reflect on these threats and unite to reclaim our Constitution,” Social Welfare Minister H C Mahadevappa said on Monday. The Karnataka government, he added, had every right to host a programme on Constitution awareness and invite an expert to speak at the convention. Industries Minister MB Patil said the incident showed what type of democracy there was in India. “This is not a good thing for our country because in our country Baba Saheb Ambedkar has given a world class Constitution where everyone’s views are respected. There is a freedom to talk,” he said.

New York because of hurdles to the listing in the US, according to people with knowledge of the matter. Shein, which was founded in China but is now headquartered in Singapore, is in the early stages of exploring the London option as it has judged it unlikely that the US Securities and Exchange Commission will approve its IPO, the people said, asking not to be identified discussing confidential information. Shein is still working on its application to list in the US as its preferred location, the people said.

Shein is considering the possibility of switching its initial public offering to London from New York because of hurdles to the listing in the US, according to people with knowledge of the matter. Shein, which was founded in China but is now headquartered in Singapore, is in the early stages of exploring the London option as it has judged it unlikely that the US Securities and Exchange Commission will approve its IPO, the people said, asking not to be identified discussing confidential information.

Google Cloud on Monday ramped up its criticism of Microsoft's cloud computing practices, saying its rival is seeking a monopoly that would harm the development of emerging technologies such as generative artificial intelligence. Microsoft and Amazon have recently attracted scrutiny in Britain, the European Union and the United States over their market power in cloud computing. Google trails a distant third behind the two leaders.

Jurgen Klopp's last dance at Liverpool is off to the perfect start. Klopp steps down as manager at the end of the season and looks determined to go out on a high. Having collected his eighth trophy with the Merseyside club on Sunday – beating Chelsea 1-0 to win the English League Cup – he is targeting another three before he walks away. The Premier League title, FA Cup and Europa League are still within reach in what could be a glorious finale.

By Foo Yun Chee

British Prime Minister Rishi Sunak said on Monday that a Conservative lawmaker was wrong to say the mayor of London is controlled by Islamists, and denied his party tolerates anti-Muslim prejudice. Sunak was pressured to condemn Islamophobia after the comments by Lee Anderson about Mayor Sadiq Khan, amid growing tensions within British politics over the Israel-Hamas war. The Conservative lawmaker claimed Islamists had «got control» of Khan and the city of London. Khan is Muslim and a member of the opposition Labour Party.

Renault and China-owned MG launched new electrified cars in Europe at the Geneva car show on Monday as Chinese automakers seek to take more market share from European rivals. Europe's auto industry is scrambling to cut costs and roll out more affordable, well-reviewed electric vehicles (EVs) to counter the arrival of cheaper Chinese models. The strong presence of Chinese competitors at the show, which returns this week after a four-year hiatus due to the Covid-19 pandemic, shows «they are interested in our market, in our customers,» Renault CEO Luca de Meo said..

The Trans Mountain pipeline expansion project may still be months away from completion, but industry insiders have already started speculating on how it will impact the oil sector, from a potential increase in the price of Canadian oil to the opening of new export markets.

Congress President Mallikarjun Kharge kicked off the party's election campaign for Andhra Pradesh at Anantapur on Monday, ahead of the upcoming state assembly polls and Lok Sabha elections, promising to dole out Rs 5,000 every month for eligible poor households. Kharge termed the monthly dole a 'Congress guarantee' and a poll promise greater than the five 'guarantees' being fulfilled in Karnataka and the six being implemented in Telangana. «This is not a promise, this is a guarantee. Like no other state in India, we are giving a promise for the poor. Every poor family will get Rs 5,000 per month into their accounts,» Kharge said, addressing the party's first election campaign meeting, switching between English and Kannada, as the region has a significant Kannadiga minority and borders Karnataka.

According to new research from Boring Money, Hargreaves Lansdown, interactive investor, Fidelity, AJ Bell and Vanguard hold a combined 70% market share of the near £400bn in assets. Hargreaves Lansdown profits drop 8% as platform ramps up technology spend While ii, Fidelity, AJ Bell and Vanguard saw an increase to their market share over the year, Hargreaves Lansdown recorded a decrease to 36%, although this remains the largest individual share. Customer accounts rose 8.3% over the year, up to 10.2 million DIY investment accounts in the UK. While the average age of an investor r...

European stocks and US equity futures posted small moves as investors geared up for a busy week of data, including the Federal Reserve’s preferred measure of inflation.

Pretty soon, Americans who crave a nicotine hit will be more likely to reach for a vape or an oral nicotine pouch than a cigarette. Few tobacco companies look ready for this milestone. According to data from Marlboro maker Altria, cigarettes’ share of the U.S.

political slugfest has erupted between the ruling Congress and the BJP in Karnataka over a United Kingdom professor being denied entry into India to attend a state government-organised conference on Constitution. Karnataka Ministers alleged on Monday the incident shows how the individual rights as well the rights of the state governments are being trampled upon, while the BJP described the professor at the University of Westminster Nitasha Kaul, who is also an Overseas Citizen of India, «a known terrorist sympathizer & one who constantly spews venom & disseminates anti-India propaganda.» Kaul has alleged that she was denied entry into India to attend on the invitation of the government of Karnataka the two-day 'Constitution and National Unity Convention-2024' on February 24 and 25.

He will be based in Paris and report to global head of fixed income Marion le Morhedec. Broustra has been at AXA IM for over 20 years, and was most recently head of investment specialists for fixed income and multi-asset solutions for the Core Investments platform. AXA Framlington shakes up management of £600m UK Select Opportunities In his new role, he will be responsible for global rates strategies for institutional and third-party clients, while overseeing AXA IM's inflation investment capabilities, as well as the Swiss and Japanese fixed income business. le Morhedec said: «I...

In its 2024 ESG Barometer report, the firm, part of Allfunds Group, noted the proportion of Article 8 funds at risk of greenwashing had increased in recent years, from 21% and 20% in 2021 and 2022, respectively, up to 24% last year. CFA UK launches impact investing certificate It said the main reason for this was that the vehicles have done «close to the bare minimum to classify as an Article 8 product», such as holding few negative exclusions or enforcing basic ESG integration, leading to ESG standards not being «strong enough». For Article 9 funds, just 6% face the same risk, the...

Yet another cryptocurrency scam has taken advantage of UK consumers. 

Mint on the sidelines of an MWC 2024 press briefing that the company’s latest announcements are a part of its efforts to “invest in pretty important interoperability technologies, to make sure devices work better together". Google has also introduced accessibility features such as AI-generated captions in its Lookout app, facilitating the creation of automatic audio descriptions for on-screen content.