GBP/AUD

UK inflation is set to have eased last month in a temporary boost for the new Prime Minister ahead of a jump in the household energy price cap. Official figures for June's Consumer Prices Index (CPI) will be published on Wednesday, two days after Andy Burnham took the reins and formed a new Cabinet. Most economists think a sharp drop in petrol and diesel ...

Estimates for payrolled employees in the UK fell by 85,000 (0.3%) between May 2025 and May 2026. However, it was largely unchanged on the month, increasing by 3,000 (0.0%) between April and May 2026. This is based on administrative data from HM Revenue and Customs (HMRC). When looking at March to May 2026, the period comparable with our Labour Force Survey ...

Early estimates for June 2026 indicate that the number of payrolled employees was 30.3 million, which is a fall of 0.2% from June 2025; this is equivalent to 71,000 fewer employees. The largest increase was in the health and social work sector, with a rise of 39,000 employees; the largest decrease was in the accommodation and food service activities sector, ...

Gregory Daco, chief economist at EY-Parthenon, says he thinks the Federal Reserve won't move on interests rates for the rest of this year. Daco talks about what he wants to see from the new Chairman Kevin Warsh. Daco speaks on "Bloomberg Surveillance."

We’re back to reading tea leaves! Hooray! Next week the Federal Reserve will have its second meeting since Kevin Warsh officially took the helm. And, at this point, the outcome is far from certain, which is unusual given that ever since Ben Bernanke instituted “forward guidance” the market usually knew what to expect. Warsh does not think “forward guidance” ...

UK's Chancellor Reeves resigns. It has been the privilege of my life to serve as the Chancellor of the Exchequer. The economy today is stronger, fairer and more resilient because of the choices we have taken as a Labour Government over the past two years. Stability restored, investment delivered and reform to our economy under way. I said when I was appointed Chancellor that I would judge my time in office if the lives ordinary working class people have been improved. Im proud to say that they have. And to every young woman and girl let my time in office show there should be no ceilings on your ambitions, your hopes or your dreams. I wish the...

Burnham to Seek Flexibility Within UKs Existing Fiscal Rules UK's PM Burnham: I would never take risks with the economy, recommits to fiscal rules. UK's PM Burnham: looking at the personal allowance threshold for income tax, changing it has significant consequences. Burnham Says It's Too Soon To Consider Increasing The Highest Tax Rate. Breaking: Andy Burnham has said that he will use "any flexibility" in the government's fiscal rules in a move that could allow him to borrow billions of pounds to invest in infrastructure. Experts have said that Burnham could raise an extra £16 billion for infrastructure after a change in the definition of public debt in the rules. The National Wealth Fund and other financial institutions are able to make loans or buy stakes in companies without affecting the public debt target. Burnham said: "I've said we'll stick to the fiscal rules and by that I mean the existing fiscal rules and use obviously any flexibility w...

To anyone who follows European politics, Britain’s new prime minister is an instantly recognizable political creature. But he is unusual for a British, especially a Labour politician. He has learned to speak passable Spanish and Frankie, his university sweetheart turned wife, is Dutch and speaks fluent French. This stands in stark contrast to Britain’s ...

The furnaces at Scunthorpe had been burning through £700,000 per day in losses when Jingye Group, the Chinese company that paid £70 million for British Steel in 2020, concluded in 2025 that the steelworks were no longer financially viable. What followed was not a controlled wind-down. It was a sequence of escalating government interventions that ended on ...

A briefing document circulated to BHP investors has warned that the federal government’s fuel tax break is acting as a handbrake on the decarbonisation of the miner’s Australian operations. Earlier this year, a leaked cache of documents obtained by Guardian Australia and the ABC’s Four Corners revealed BHP had halted or delayed key emissions reductions ...