Fall in U.K. jobless count rate in April

The number of Britons claiming jobless benefits in April dropped by the sharpest amount in almost two years and the country’s overall unemployment rate also fell, official data showed Wednesday, providing a rare piece of good news for the recession-hit economy. The main unemployment benefit--fell 13,700 in April to 1.59 million--the biggest fall since July 2010.

UK slides back into recession

UK's economy slid into its second recession since the financial crisis after official data unexpectedly showed a fall in output in the first three months of 2012.

U.K. jobless claims jump 37,100 in July

The number of British workers claiming unemployment benefits jumped 37,100 in July to 1.564 million, the U.K. Office for National Statistics reported Wednesday. Economists had forecast a rise of 20,000. The unemployment rate in the three months ending in June rose to 7.9% from 7.7% in the three months ending in May.

Financial job openings in London tank in May

Job vacancies in London's financial sector fell 19 percent in May from a month earlier, as persistent worries about the economy.

U.K. manufacturing PMI falls to 20-month low

The U.K. manufacturing Purchasing Managers Index fell to a 20-month low of 52.1 in May from a downwardly revised 54.4 in April, due to weaker trends in both production and orders. The sharpest contraction in both production and new orders was in consumer goods, reflecting the weakness of the domestic market.

U.K. Consumer Confidence Jumps Most in 18 Years

U.K. consumer confidence jumped the most in 18 years in May as Britons became less pessimistic about their finances and the economy. An index of sentiment rose 10 points from April to minus 21, the highest in five months. That’s the biggest increase since May 1993.

Moody's may downgrade U.K. banks: Sky News

Moody's Investors Service may downgrade 14 U.K. banks and building societies due to concern over the withdrawal of government support for the financial services industry, Sky News reported on its Website late Monday,

Steel Firm Tata To Cut 1,500 Jobs In UK

Steel firm Tata has announced major job losses at three plants in northern England. The company is cutting 1,500 workers at facilities in Scunthorpe, Redcar and Teesside. The job losses are in its long products division, as part of a restructuring plan that includes £400m investment in the area over five years. As of January 2010, Tata Steel employed more than 21,000 people in the UK. The company is one of the world's top ten steel producers, employing 80,000 people across nearly 50 countries.

Wall Street falls as data disappoints

U.S. stocks fell on Wednesday as disappointing economic data. The Institute for Supply Management's services index fell last month well below forecasts, while U.S. private employers added fewer jobs than expected in April.

British stocks rise as retail sector advances

Retailers Kingfisher PLC and Next PLC led the U.K. market higher Thursday, after both companies reported rising profits and lifted their dividends.