Bank of England Chief Economist Andrew Haldane said the U.K. interest rates could remain lower at a record low for a longer period than he expected three months ago. If there is a genuine uncertainty about the path of the economy, the optimal policy response may be to avoid the worst outcomes, he told local business leaders in Kenilworth, central England, Friday.
Engine maker Rolls Royce Holdings Plc. (RYCEF.PK, RR.L, RYCEY.PK) Friday slashed its group underlying revenue forecast for the year, citing deterioration in economic conditions and the tightened Russian trade sanctions. The stock dropped more than 8 percent in early morning trade.
British beverages giant Diageo Plc Thursday said its first-quarter net sales declined 1.7 percent on a reported basis and 1.5 percent organically, with weak volume. Despite North America, all regions recorded weak results organically. Looking ahead, Chief Executive Ivan Menezes said, "We expect full year top line growth to improve on last year's performance."
French drinks company Rémy Cointreau SA (REMYF.PK, RCO.PA) Thursday said sales in the first six months of the year declined from the previous year, but confirmed its 2014/15 targets of delivering positive organic growth in both sales and current operating profit.