'If you want a strong pound, it has to be for the right reasons'

The current strong pound is starting to bite into the profits of corporate Britain. Aircraft-engine maker Rolls-Royce, defence group BAE Systems, and contract caterer Compass were among the heavyweights who lined up last week to say that adverse currency movements were wiping millions off their balance sheets.

UK interest rates kept at record low

UK interest rates have been held at 0.5% for another month, the Bank of England has said.