Reuters

LONDON (Reuters) - Britain's consumer price inflation fell by less-than-expected in April, raising fresh doubt about the Bank of England's plans to cut interest rates in the coming months which would give a boost to embattled Prime Minister Rishi Sunak.

British consumer prices rose by an annual 2.3%, down from a 3.2% increase in March and its lowest since July 2021 when it stood at 2.0%, the Office for National Statistics said.

The BoE -... (continue reading...)

DUBAI (Reuters) - Saudi Arabian fintech firm Rasan Information Technology has priced its initial public offering on the local bourse at 37 riyals per share, at the top of its indicative price range, according to adviser Banque Saudi Fransi.

The company is offering 22.74 mln shares, representing a 30% stake. The final offer price implies a market value of around 2.8 billion riyals ($746.67 million) for Rasan, with the offering raising gross proceeds of... (continue reading...)

By Mike Dolan

LONDON (Reuters) - Even as consensus builds inside and outside the Bank of England on UK interest rate cuts this summer, the thorny issue for banks and bond markets of when it stops its steep balance sheet rundown seems a bit murkier.

Rising take-up of a key BoE short-term lending facility launched in October 2022 following severe budget-related bond market turmoil that month has raised questions this year about whether... (continue reading...)

By Greta Rosen Fondahn and Alessandro Parodi

(Reuters) - New car sales in the European Union rose 13.7% in April on the year for their biggest jump since last October, Europe's auto industry body said on Wednesday, after registrations fell in March.

The European Automobile Manufacturers Association (ACEA) said an uptick in major markets Spain, Germany, France and Italy drove the increase, while an early Easter added two extra sales days... (continue reading...)

By Phil Stewart and Idrees Ali

WASHINGTON (Reuters) - The United States hopes defense meetings in Riyadh on Wednesday will help advance a long-standing goal of building a regional missile shield, bolstered by Israel's successful defense against waves of incoming Iranian missiles and drones last month, U.S. officials say.

But it's unclear whether Gulf allies have the same confidence the U.S. would rush to their defense, or if those allies... (continue reading...)