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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...

This blog is now closed.Australia’s $4.6bn Aukus funding to help create more than 1,000 jobs in UK, Rolls-Royce saysGet our morning and afternoon news emails, free app or daily news podcastChalmers: we can have cost-of-living relief and wage growthHere is how Jim Chalmers was selling the wage submission (at least on ABC TV this morning). The treasurer said it wasn’t a binary choice between...

Pre-tax figure of £6.2bn comes as bank confirms Paul Thwaite will take over permanently as CEOBusiness live – latest updatesNatWest made its biggest annual profit last year since the 2007 financial crisis, helped by high interest rates, as the bank confirmed the interim boss Paul Thwaite would permanently take over as its chief executive before a sale of its government-owned shares.The UK lender –...

Banks say tax tweaks approved by Anthony Albanese’s cabinet may slow pace of RBA interest rate cuts and further reforms are needed to fill budget shortfallsStage-three tax cuts: cabinet approves new cost-of-living relief for workers on less than $150,000Follow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastThe Albanese government’s changes to the...

Bank of England forecast to make as many as four interest rate cuts in 2024, which will slash returnsIf Christmas hasn’t cleaned you out financially, now could be the last chance to grab one of the UK’s highest-paying fixed-rate savings accounts.With the money markets convinced that interest rates are heading on a downward trajectory, the smart savings cash is heading for a fixed-rate bond...