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Corbyn approval ratings reach lowest level in a year

Jeremy Corbyn's approval rating has fallen to the lowest level since May 2017, as the Labour leader fails to grapple with the antisemitism claims dogging his party. A new YouGov poll found just 22 per cent would support him as Prime Minister, compared with 36 per cent of people backing Theresa May. Neither of those two options were as popular as 'Don't
Money

Better weather helps UK GDP pick up pace

The UK economy has shrugged off the impact of the extreme weather during the first quarter of this year, with the second quarter doubling the pace of growth. GDP grew by 0.4 per cent in the three months to June, up from a revised growth of 0.1 per cent in the three months to May. Head of national accounts at the Office for National Statistics, Rob Kent-Smith, said: “The
Money

Last Week in the City: Currency markets flinch

Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (6 to 10 August 2018). All eyes were on currency markets this week, as concerns over a no-deal Brexit hit the pound, the Turkish lira collapsed as the countrys economic woes took a turn for the worse and the rouble fell on new US sanctions against
Money

Trump doubles steel and aluminium tariffs on Turkey as lira nosedives

Donald Trump has today announced massive increases to tariffs against Turkey as its currency the lira continues to plummet. It fell to a record low this morning, and has now dropped 18 per cent today to 6.5 lira to the dollar, compared with 5.5 lira last night, as a deepening monetary crisis and diplomatic relations with the US deteriorated. The currency has lost
Money

Russia lashes out against US sanctions as an act of ‘economic war’

Russian prime minister Dmitry Medvedev armed himself with fighting talk earlier today, as he warned against any moves by the US to curb the activities of its banks amid fresh sanctions. Medvedev said Russia would take any action against its banks as "a declaration of economic war" between the two superpowers. If this happens, Russia would be prepared to respond with
Money

Mark Kleinman: Billionaires’ battle cannot mask retail crisis

If in doubt, blame the weather. For some retailers, the age-old excuse might wash – but not House of Fraser, waylaid by a combination of managerial incompetence, outdated real estate and strategic malaise. HoFs survival remains in the balance as I write this column, its creditors last night contemplating competing offers from the billionaire high street tycoons Mike
Money

Tube delays: Metropolitan line suspends route into the City

The Metropolitan line has been partly suspended between Wembley Park to Aldgate, after Transport for London (TfL) reported a signal failure at Baker Street. There are now minor delays on the rest of the line. Commuters have been advised to travel via the Jubilee Line if travelling in from the north west of London, and seek separate transport to City stations via other
Money

Nationwide profits slip in first quarter as outlook remains unchanged

Nationwide said its profits declined in the first quarter, although the building society said its outlook for the year remained unchanged. The figures Before tax profit dropped 13 per cent from £322m to £281m in the quarter up to 30 June 2018. Nationwide assets came in at £236bn, up from the previous quarter's total of £228.9bn. It said gross mortgage lending
Money

Sterling volatility continues over no deal Brexit fears

Hedge fund boss Crispin Odey said today he would continue betting against sterling in the run up to Brexit, even after it fell to its lowest point for a year yesterday. Nervousness over the UKs prospects of striking a deal with the EU has sent sterling sliding in recent days, falling as low as $1.2842 today, the lowest point since August 2017. Read more: Pound sinks to