Sunday, May 26News For London

Tag: economics

UK economic slows, rising question of economic health after Brexit

UK economic slows, rising question of economic health after Brexit

Business, economy
After a growth over the summer, Britain’s economy lost its speed in three months to October, latest official data shows. According to the Office for National Statistics, GDP grows by 0.4 per cent from July to October, coming down from 0.6per cent, the rate of the third quarter of the year. In October, the GDP growth is 0.1 per cent. The increases are roughly flat in the three most recent month, August, September and October. “The latest data confirm that UK GDP growth is slowing after a strong performance in the middle of the year, and the risks appear to be to the downside ” Garry Young, head of macroeconomic modelling and forecasting at NIESR recommends. In this three months, services sector, with a 0.3 per cent growth, and construction sector are the main contributors to GD

Three investors may save Scunthorpe steel plants

Three investors are rumoured to acquire Tata steel plants in Scunthorpe, securing jobs and revitalising the sector, according to the International Business Times. On Sunday, the Telegraph reported that Tata was neared to a deal to cede the plants. The falling in prices of steel over last few years forced the firm to cut jobs in Scunthorpe. According to IBTimes, Greybull, which rescued Monarch airlines last year, and Endless, owner of Crown Paints, are in tightened talk to acquire Tata presumably before Christmas or at the beginning of 2016. Earlier on Monday, speculations arose over the possible involvement of other two firms in the acquisition of Tata. However, the identity stayed mysterious for both. "All we know now," said Tony Gosling, steelworkers at Tata and trade u...