Discount retailer B&M misses annual sales forecast as inflation hits UK demand
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Reuters
29 minutes ago
- Reuters
Canadian dollar steadies ahead of domestic inflation data
TORONTO, Aug 18 (Reuters) - The Canadian dollar was barely changed against its U.S. counterpart on Monday as oil prices rose and investors awaited domestic inflation data that could guide expectations for the Bank of Canada policy outlook. The loonie was trading nearly unchanged at 1.3814 per U.S. dollar, or 72.39 U.S. cents, after moving in a range of 1.3784 to 1.3831. Canada's consumer price index report for July is due on Tuesday. Economists expect the annual rate of increase in consumer prices to ease to 1.8% from 1.9% in June, but measures of underlying inflation that are closely tracked by the BoC are forecast to remain well above the central bank's 2% target. "Tomorrow's Canadian inflation report should remain too hot for comfort," Karl Schamotta, chief market strategist at Corpay, said in a note. "The central bank's preferred trim and median core measures are likely to hold close to the 3% threshold for now as retaliatory tariffs and still-resilient consumer spending levels translate into upward pressure on prices." Investors see a 68% chance that the BoC would leave interest rates unchanged at its next policy decision on September 17. The central bank has been on hold since lowering the benchmark rate to 2.75% in March. The price of oil , one of Canada's major exports, was up 0.5% at $63.11 a barrel, while the U.S. dollar (.DXY), opens new tab notched gains against a basket of major currencies. Canadian housing starts unexpectedly rose in July, advancing 4% from the previous month, data from the national housing agency showed. Data on Friday from the U.S. Commodity Futures Trading Commission showed that speculators have raised their bearish bets on the Canadian dollar to the highest level since June. The Canadian 10-year yield was up 2.7 basis points at 3.489%, after earlier touching its highest level since July 30 at 3.506%.
BBC News
29 minutes ago
- BBC News
Lloyds Bank set to leave Wolverhampton city centre site after 146 years
Lloyds Bank is set to move from its building in the centre of Wolverhampton to a new site at the end of November. The bank is leaving their 146-year-old building in Queen Square to relocate to the Mander Centre, also in the city.A spokesperson for the bank said they were "excited" to be moving services to the new have been told the move would not affect the services available in the city. The spokesperson added: "The branch will offer customers a welcoming and modern place for their in-person banking and our colleagues will be on hand to help with a range of services." Follow BBC Wolverhampton & Black Country on BBC Sounds, Facebook, X and Instagram.
BBC News
29 minutes ago
- BBC News
Filter 'temporary fix' to Whitehaven Harbour's orange water
A new filtering system has provided a temporary solution to a years-long problem of a harbour's water turning orange, bosses have have identified iron ochre getting into Whitehaven's Queens Dock in Cumbria through a culvert draining water from the Bransty railway tunnel, resulting in a discolouration to the harbour. Whitehaven Harbour Commissioners (WHC) said the "amazing" transformation to the water was "most likely" the result of a new filter installed by Network Rail in the tunnel, but it was "not yet a permanent fix".Network Rail said the system was temporary while "essential" work was undertaken, but the firm would play its part in seeking a long-term solution. Deanne Shallcross, chief executive of WHC, said the view of the Queen's Dock with clear water was "amazing".She said: "We appreciate this sudden change is most likely a temporary effect of the work that Network Rail are doing in Bransty Tunnel and not yet a permanent fix, but it's great to see the water can indeed return to its former glory relatively quickly when solutions are in place."She said she would "love" for the filtration equipment to remain but it was currently only funded "under temporary permissions", while Network Rail carried out work on the tunnel. WHC and other members of the harbour water task force would "continue to work hard on securing funding and confirming a permanent solution", Ms Shallcross and Workington MP Josh MacAlister, who is one of those working to fix the problem, posted WHC's picture of the harbour on social media with the caption: "Notice anything? It's not orange." He previously described the situation as "mind-bogglingly frustrating" after a number of multi-agency meetings failed to find a solution to the problem. A Network Rail spokesperson said the "temporary water treatment plant" was in place during "essential work to upgrade the track and drainage" through Bransty tunnel in Whitehaven. They said the filter system was a condition of an environmental licence issued by the Environment Agency and would only operate for the duration of the works due to permit and funding issues."We continue to play our part with other partners involved to work towards a longer-term, affordable solution," the spokesperson said. Follow BBC Cumbria on X, Facebook, Nextdoor and Instagram.
