UK petrol and diesel prices fall after weeks of rises

Warsh, a 55-year-old economist, is a fellow at the right-leaning Hoover Institution and serves on the board of courier UPS. He has been an outspoken Fed critic, lambasting everything from the central bank’s heavy reliance on data to its use of assets on its balance sheet.

Preston Bus says it cannot confirm whether it will join a new government scheme capping single fares at £2 from January because it has not been told how operators will be reimbursed. Under the current national scheme, participating operators cap eligible single fares at £3, but participation is voluntary. Preston Bus left the scheme in…

UK government borrowing was significantly lower last month, due to an increase in tax income outweighing spending, official figures show. In December government borrowing – the difference between public spending and tax income – was £11.6bn, the Office for National Statistics (ONS) said. It is down £7.1bn – 38% – from the previous December, and…

No-frills airline EasyJet says it has agreed in principle to a £5.7bn takeover proposal from US firm Apollo Management – just days after it had accepted an offer from a rival suitor. The Luton-based carrier said Apollo’s offer delivered “a superior outcome” to investors than the previous bid from US investment firm Castlelake that EasyJet…

Earlier this month, new Prime Minister Andy Burnham announced a 20% cut in business rates for pubs, social clubs and music venues in England, telling them “the cavalry is coming”. Some hospitality firms welcomed the move but others in the industry, such as hotels and restaurants, questioned why the 20% cut to business rates would…

Eve Connor,North East and Cumbriaand Andy Watson,in Sunderland BBC The new Leaf will be built in Sunderland and powered by batteries also manufactured nearby Car manufacturer Nissan has started building its new electric Leaf at its UK factory. The government said it was the first new high-volume car to be built in the country since…