Financial news london

Here are some of the latest financial news stories from London:

Market Updates

• The FTSE 100 index closed up 0.4% at 7,444.50, led by gains in mining and oil stocks. (Source: Financial Times)
• The pound fell 0.2% against the dollar to $1.3145, as investors awaited the outcome of the UK's Brexit negotiations. (Source: Bloomberg)

Company News

• British Airways owner IAG has reported a 12.1% increase in passenger numbers for the first quarter, driven by strong demand for short-haul flights. (Source: The Telegraph)
• Tesco has announced a 1.7% increase in like-for-like sales for the first quarter, as the supermarket chain continues to invest in its online shopping platform. (Source: The Guardian)

Economic News

• The UK's Office for National Statistics (ONS) has reported that the country's economy grew by 0.2% in the first quarter, driven by a rebound in manufacturing and construction. (Source: BBC News)
• The Bank of England has kept interest rates on hold at 0.5%, but hinted that it may raise rates later this year if the economy continues to grow. (Source: The Times)

Regulatory News

• The Financial Conduct Authority (FCA) has fined Barclays £26 million for failing to properly manage its risk-taking culture. (Source: The Financial Times)
• The UK's Financial Reporting Council (FRC) has launched an investigation into the accounting practices of British construction company Carillion, which went into liquidation earlier this year. (Source: The Guardian)

Other News

• The UK's Chancellor of the Exchequer, Philip Hammond, has announced plans to increase the country's national living wage to £9.30 per hour by 2020. (Source: The Independent)
• The London Stock Exchange has announced plans to launch a new trading platform for small and medium-sized enterprises (SMEs). (Source: City A.M.)