Cnn business news 19 may 2019 in uk

Here are the top stories from CNN Business News on May 19, 2019, in the UK:

Top Stories

  1. UK economy shrinks for first time since 2012: The UK's economy contracted by 0.4% in the first quarter of 2019, according to the Office for National Statistics (ONS). This is the first quarterly decline since 2012 and has raised concerns about the impact of Brexit on the economy.
  2. Sterling plunges to 20-month low: The pound fell to its lowest level against the dollar since October 2017, trading at $1.2735, as investors worried about the impact of Brexit on the economy.
  3. HSBC profits slump 33%: HSBC, one of the UK's largest banks, reported a 33% decline in profits to $3.2 billion in the first quarter of 2019, citing a decline in investment banking revenue and higher costs.
  4. Amazon to create 1,000 new UK jobs: Amazon announced plans to create 1,000 new jobs in the UK, including 500 in its fulfillment centers and 500 in its corporate offices.
  5. UK inflation rate falls to 2.1%: The UK's inflation rate fell to 2.1% in April, down from 2.5% in March, according to the ONS. This is the lowest rate since November 2016.

Business News

  1. EasyJet profits fall 26%: EasyJet, the UK's largest low-cost airline, reported a 26% decline in profits to £177 million in the first quarter of 2019, citing higher fuel costs and a decline in passenger numbers.
  2. Tesco profits rise 28%: Tesco, the UK's largest supermarket chain, reported a 28% rise in profits to £1.4 billion in the first quarter of 2019, citing a decline in costs and an improvement in sales.
  3. UK car production falls 14.5%: UK car production fell 14.5% in April, according to the Society of Motor Manufacturers and Traders (SMMT), citing a decline in demand and Brexit uncertainty.
  4. Barclays profits rise 14%: Barclays, one of the UK's largest banks, reported a 14% rise in profits to £1.3 billion in the first quarter of 2019, citing an improvement in investment banking revenue and a decline in costs.
  5. UK construction industry contracts: The UK construction industry contracted for the first time in three years in April, according to a survey by Markit and the Chartered Institute of Procurement and Supply (CIPS), citing a decline in new orders and a shortage of skilled labor.

These are just some of the top stories from CNN Business News on May 19, 2019, in the UK.