Economists support Labour spending plans 

163 economists have backed Labour by signing a letter to the UK's Financial Times, supporting the party and its proposals for higher public sector spending.

Economists and academics agree with Labour spending proposals. (Photo: CGTN)

The letter said: "It seems clear to us that the Labour party has not only understood the deep problems we face, but has devised serious proposals for dealing with them."

It also challenged the Conservatives' "strong economy" and their "10 years of near zero productivity growth", stagnant corporate investment, low wage growth and has increasingly strained public services.

Amongst the academics, a number of whom have previously supported the Labour party, are Victoria Chick, emeritus professor of economics at University College London; Simon Wren-Lewis, emeritus professor of economics at Merton College, University of Oxford; and Meghnad Desai, emeritus professor of economics at the London School of Economics.

UK banknote printer fears over its future

The rise of digital payments has hit British banknote printer De La Rue.  

Announcing its annual results, the company pointed to "significant doubt" over its future.  

It will suspend dividend payment as it seeks to cut costs to tackle depressed margins. 

De La Rue, which failed to win a new contract to print blue British passports following the Brexit vote, has replaced its management team in the last year and is seeking to completely revamp the business.

House sales drop over Brexit uncertainty 

Britons have put off redecorating their homes as they wait for politicians to decide the future of the country, tile retailer Topps Tiles reported.

House sales are a major driver of demand for the company, which is the market leader and the home-buying market has struggled amid political uncertainty about Brexit. 

"At the start of the new financial year, trading conditions have become more challenging, with consumer demand weakening further since the General Election was called in late October," Chief Executive Matthew Williams said as he announced a 7.2% drop in like-for-like sales in the first eight weeks of the financial year. 

Caterer Compass warns on Europe performance

Catering group Compass said declining business and consumer confidence in Europe is hurting its sales and margins.

The company, which runs canteens in schools and offices, said its operations serving the leisure and defense industries in North America and the UK remained strong. 

Operating profit grew 4.7% to $2.4 billion for the year ended Sept. 30.