Universal Credit policy expanded
Craig TaylorThe government’s flagship welfare policy, Universal Credit, is set to be introduced in 90 jobcentres across north-west England, the work and pensions secretary says. BBC News – Business
Business
US central bank cuts growth forecast
The US Federal Reserve cuts its growth forecast for 2014 because of the unexpectedly harsh winter and trims back its stimulus programme. BBC News – Business
UK inflation rate falls to 1.5% in May
Lower fares for flights helped to push the rate of inflation down to its lowest level in four-and-a-half years in May, new figures show. BBC News – Business
Bank ‘puzzled’ by productivity gap
The Bank of England says productivity is 16% below its pre-crisis trend – but says it is at a loss as to why this is. BBC News – Business
Mortgage cap ‘won’t be used soon’
Mortgage lenders say that a cap on the size of mortgage loans is unlikely to be “the first tool in the box” to cool the housing market. BBC News – Business
EU wants ‘fair’ US action over BNP
One of the European Union’s top officials, Michel Barnier, intervenes in the controversy over a potential huge US fine on BNP Paribas bank. BBC News – Business