Latest news with #UKBonds
The Independent
03-07-2025
- Business
- The Independent
Business news live: Bonds latest after yields rise and Microsoft cut 4% of workforce in AI push
The yields on UK ten year bonds rose sharply on Wednesday as Keir Starmer failed to guarantee the job of chancellor Rachel Reeves, resulting in higher borrowing costs, before stabilising after a Labour statement said Ms Reeves was 'going nowhere'. That didn't stop market speculation, as the pound also sank in reaction. Meanwhile, news across the business world saw TSB confirm it would be bought by Santander to create the UK's third-biggest bank, pending approval, and AstraZeneca's CEO has held conversations over moving the biggest firm on the London Stock Exchange to a US listing. Elsewhere, Microsoft are cutting 9,000 jobs as the race to employ AI for tasks continues, while Thursday also sees The Independent show how Trump tariffs are impacting small and medium businesses across the UK. The FTSE 100 was flat on Wednesday, despite several miners enjoying strong rises.
Bloomberg
10-06-2025
- Business
- Bloomberg
Weak UK Jobs Data Sends Down Pound and Boosts BOE Rate Cut Bets
The pound fell and UK bonds rallied as traders added to bets on interest-rate cuts from the Bank of England after data showed a sharp deterioration in the labor market. Sterling fell as much as 0.7% to $1.3456 on Tuesday, heading for its worst day in a month and leading losses among Group-of-10 currencies. Gilts outperformed euro-area peers, with yields down five to six basis points across the curve.
