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UK OPENING NEWS INCLUDING: British consumer confidence fell in April after rising in the previous month - Nationwide

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Nationwide Consumer Confidence (Apr) 43 vs. Exp. 46 (Prev. 44, Rev. to 45) (RTRS)
British consumer confidence fell in April after rising in the previous month, underlining the fragility of the UK recovery and the tough outlook for retailers. Low wage growth, weak job market and worries about Britain’s economic outlook have combined to make consumers wary of spending, Nationwide said. “Consumers are still feeling downbeat about the current situation and there is nothing to suggest that they expect things to improve much over the coming months”, said nationwide chief economist Robert Gardner.
 
Proof of the squeeze on households is no longer dribbling out in the occasional poor retail sales figure. It’s flowing thick and fast, and pretty much every way you turn. Since the start of the year retail sales values have crumbled, according to the Bank of England, and anecdotal evidence of how cash-strapped the country now is has gathered into a flood. (Telegraph)
 
Future bonus and dividend payments by UK banks will depend upon convincing regulators the handouts will not dent capital reserves or undermine sound risk management, the head of FSA warned. (FT - More)

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