In job-starved northern England, Jonathan Sumner finally found full-time work 18 months after graduating from business school. In Portsmouth, on the south coast, Stephen Cox suddenly had enough spare cash to help his son buy a house and take his wife on vacation to celebrate their 35th wedding anniversary.
In testimony to MPs today, the Bank of England governor said the time for a rate increase is moving closer, sending the pound to a one-week high against the dollar, pushing U.K. stocks down for the first time in five days and hurting government bonds.
Mediation talks will be held today to try and avert another strike on London's Tube network that may cost businesses in the U.K. capital millions of pounds in lost revenue if it goes ahead. The latest 24-hour walkout is scheduled to take place from 9:30 p.m. on Aug.