Britain’s inflation rate slowed to its lowest level in about three years last month, further cementing the case for the Bank of England to cut interest rates later this year. Consumer prices rose 2.3 percent in April from a year earlier, down from 3.2 percent in March, the Office for National Statistics said on Wednesday. … Read more
8 hours ago Mining shares sank after Anglo American rejected BHP’s takeover bid Mining shares sank on Wednesday afternoon after Anglo American rejected a third takeover proposal from rival BHP Group as the companies agreed to extend the deadline for negotiations by a week. Anglo shares initially rose before paring gains to trade up 0.65% … Read more
Image © Adobe Stock The pound-euro exchange rate rose to its highest level since March at 1.1736 after UK inflation fell to 2.3% year-on-year in April, a figure that was higher than market and Bank of England expectations (2.1 %). The most important and oft-watched component of services inflation in the release was significantly worse … Read more