44Rio Tinto rejects calls to abandon UK listing and focus on Australia
Federal Reserve sets path for US rate cuts next month as inflation falls toward 2%
Shell’s cost measures boost profits to $6.3 billion despite slump in oil and gas trading
Barclays investment banking profits cushion UK firms’ woes
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The Bank of England has cut its base interest rate to 5 percent. The bank’s Monetary Policy Committee voted 5 to 4 to cut it by 25 basis points to 5 percent.
The FTSE 100 is trading flat in afternoon trading. Companies reporting and trading updates today include Shell, Barclays, Next, Rolls-Royce, BAE Systems and Wizz Air. Read the Business Live blog for Thursday 1 August below.
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Rio Tinto rejects calls to abandon UK listing and focus on Australia
Rolls-Royce shares hit record high as profitability accelerates
Bank of England figures suggest the “possibility of more drastic rate cuts than currently anticipated by the market”
Federal Reserve sets path for US rate cuts next month as inflation falls toward 2%
The Bank of England has “gone from worrying about inflation to worrying about economic growth”
Shell’s cost measures boost profits to $6.3 billion despite slump in oil and gas trading
The rate cut “should add to the momentum already building in UK business and consumer confidence”
Next expects annual profits of around £1 billion
The pace of rate cuts will be slower than that of rate increases
Barclays investment banking profits cushion UK firms’ woes
Bank of England cuts base rate to 5%