~theguardian-world | Bookmarks (6)

Shoppers cut back in March, with data likely to increase pressure on Bank of England over interest ratesBusiness live – latest updatesRetail sales in Great Britain unexpectedly stalled in March as consumers cut back on spending because of the cost of living, according to new data.British retail sales volumes stagnated at 0% in March after an increase of 0.1% in February, according to the...

Predictions for when Bank of England will start lowering cost of borrowing pushed back Business live – latest updatesThe UK’s annual inflation rate fell by less than expected in March to 3.2%, complicating the timing of a first Bank of England interest rate cut.Figures from the Office for National Statistics (ONS) show inflation continued to fall from 3.4% in February to reach the lowest...

Live, rolling coverage of business, economics and financial markets as exchange-traded funds help biggest cryptocurrency rallyThe European Commission’s use of Microsoft email and office software broke its own privacy rules, an EU privacy watchdog has ruled.Microsoft’s software transferred personal data outside the EU, breaching privacy rules, according to the European Data Protection Supervisor. Continue reading...

National Audit Office reviews Bank’s actions to reduce non-financial risks since scandals but acknowledges ‘good progress’Dozens of “major” compliance breaches have been unearthed at the Bank of England, despite progress to fix shortcomings after misuse of the central bank’s audio feed by hedge funds four years ago.The report by the National Audit Office (NAO), the public spending watchdog, reviewed the Bank’s actions to improve...

MPs find Treasury-affiliated bodies have engaged Horizon firm since damning 2019 high court judgmentThe Japanese technology company Fujitsu, whose flawed technology for the Post Office led to the wrongful prosecution of hundreds of subpostmasters, is confirmed to have held contracts worth more than £3.4bn linked to the Treasury since 2019.Figures published by the Commons’ treasury committee show £1.4bn of contracts were awarded to Treasury-affiliated...

Surprise uptick to 4.0% complicates forecasts that Bank of England will cut interest ratesAnalysis: inflation rise complicates outlook on interest ratesWhich UK goods and services have changed most in price?UK inflation rose unexpectedly to 4.0% in December in the first increase for 10 months, complicating the timing of interest rate cuts from the Bank of England this year.The Office for National Statistics said annual...