UK TRADE AND BUISNESS

Nationwide challenges UK’s big banks with $3.7 bln Virgin Money bid

Britain’s Nationwide Building Society (NBS.L), opens new tab has agreed to buy Virgin Money UK (VMUK.L), opens new tab in a potential 2.9 billion pound ($3.7 billion) all-cash deal to create the country’s second-largest savings and mortgage provider. Reuters reports The proposed deal is the latest example of a bounce in merger and acquisition activity among British lenders, […]
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New business coalition aims to tackle poor UK productivity

Microsoft and Vodafone are among the backers of the Building Back Britain Commission, which will be launched at an event attended by Labour’s shadow business secretary, From Sky News discovered. The trio, along with Churchill Retirement Living, NHBC and Pension Insurance Corporation, are among the founding members of the Building Back Britain Commission (BBBC). The […]
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North and Midlands to share £4.7bn local transport fund after HS2 rail leg scrapped

Rishi Sunak says it’s an example of “levelling-up in action” that will empower local leaders but Labour calls it another broken promise for people outside the South. The prime minister has revealed how some of the money from abandoning the HS2 northern leg will be reallocated. Northern England will get £2.5bn and the Midlands £2.2bn […]
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UK economy fell into recession after people cut spending

The UK economy has officially entered recession, figures show. A recession is defined as two consecutive three-month periods where the economy contracts rather than grows. A major measure of economic growth, gross domestic product (GDP) shrank 0.3% between October and December, the latest Office for National Statistics (ONS) data shows. It’s a steeper-than-expected fall, as economists […]
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