UK
Legal action in UK may lead to cancellation of Brexit
A wave of lawsuits combined into one may keep the UK from exiting the EU without a vote in Parliament. That vote could ultimately prevent the government from invoking Article 50, the necessary first step […]
The Bank of England’s plan to purchase £70 billion in bonds
The Bank of England’s plan to purchase £70 billion in bonds, including £10 billion in investment-grade corporate bonds, has had a positive effect, with A-rated sterling corporate-bond spreads falling to 1.38 percentage points. The central […]
BoE cuts interest rate to a record-low 0.25%
The Bank of England has cut its key interest rate by 25 basis points to a record-low 0.25%, moving to cushion the blow of the UK’s planned withdrawal from the EU. The central bank says […]
UK PMI in record pullback after Brexit vote
Markit’s purchasing managers’ index for the UK pulled back sharply after the Brexit vote, suggesting that the economy could contract in the third quarter. The PMI’s drop to 47.3 from 51.9 the previous month was […]
Fintech firms wary of Brexit consequences
Britain’s financial-technology companies fear that uncertainty related to the UK’s decision to leave the EU will make it more difficult to find funding. “Even now, no one is quite sure precisely what Brexit will entail, […]
Economists expect UK economy to start declining
The 0.5% acceleration in Britain’s economic growth in the second quarter, coming after three years of steady increases in GDP, will be the last economic expansion the UK will see before shifting into decline for […]