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US rate cut hopes lift pound over $1.27, ahead of Bank of England decision - business live

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Rolling coverage of the latest economic and financial news, as the dollar falls after US Federal Reserve hints that borrowing costs will fall soon

Ouch! Shares in UK electronics retailer Dixons Carphone have plunged by a quarter in early trading. Dixons Carphone has shocked the City by warning that its UK mobile business will be “significantly loss making this year”, as it struggles to persuade customers to upgrade their phones. It also posted a statutory pre-tax loss of £259m for the last financial year, down from a profit of £289m in 2017-18.

 

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Why would the Bank of England raise interest rates when armageddon comes due to Brexit.

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US oil giant ExxonMobil hit by rocket attack in Basra, Iraq after US military targetedTHREE people were wounded after a rocket hit the site of the residential and operations headquarters of several global major oil companies, including US giant ExxonMobil, near Iraq's southern city of Basra early on Wednesday, the country's military has said. Iran, but they will make out it was Israel.
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