Peter Spencer News
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U.K. home sellers raised asking prices in April for a fourth consecutive month amid a shortage of properties for sale, according to Rightmove Plc.
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Britain’s economy will grow less than previously forecast this year and further bond purchases by the Bank of England may do little to stimulate the recovery, according to the Ernst & Young Item Club.
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Britain’s economy will grow less than previously forecast this year and further bond purchases by the Bank of England may do little to stimulate the recovery, according to the Ernst & Young Item Club.
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The U.K. economy won’t grow this year as damage from the euro-area debt crisis overshadows a pickup in consumer spending in the second half, the Ernst & Young Item Club said.
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Ernst & Young LLP’s ITEM Club cut its U.K. growth forecast and said the Bank of England should lower its key interest rate as its new stimulus earlier this month is unlikely to be enough to revive economic growth.
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The Bank of England’s inflation- targeting regime isn’t working and the government should use the appointment of Mark Carney as governor to reassess the remit, according to the Ernst & Young Item Club.
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U.K. Prime Minister David Cameron ’s welfare cuts may save 90,000 public-sector jobs by easing the pressure on government departments, according to Ernst & Young LLP’s Item Club.
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Britain’s economy will shrink this year as weakening global demand offsets an improvement in consumer spending, hampering the government’s deficit-reduction plans, the Ernst & Young ITEM Club will say.
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Ernst & Young LLP’s Item Club cut its U.K. economic growth forecasts for the second time this year as weak consumer spending and Europe’s sovereign-debt crisis cloud the outlook for the recovery.
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The pound weakened and gilts rose amid concern that U.K. economic growth will falter as European leaders struggle to meet a one-week deadline for a plan to stem the euro-region’s debt crisis.
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