London, (Parliament Politics Magazine) – The Bank of England recently raised interest rates in the UK to 0.25%. The move came just one day after inflation figures showed that the cost of living had risen by 5.1% in the year to November.
It proved difficult work on occasion, however numerous businesses in England’s east say they have had the ability to cope with the 1st year of Brexit. England officially stepped out of the European Union (EU) and its single market on January 1,
With new regulations, London wants to assert itself on the international financial market The UK’s financial regulator announced new rules for IPOs in December 2021. The focus is on strengthening initial public offerings that are carried out via the London-based English stock
The United Kingdom officially voted to leave the European Union in 2016 — a controversial decision that sent shock waves across the globe. Since there was an extended “transition period,” the country didn’t leave the trading block until January 2020, and trading
A significant landmark moment in the UK manufacturing sector has been confirmed after HS2 Ltd signed a £2billion contract with Hitachi and French manufacturer Alstom to build state-of-the-art “bullet-style” trains In Britain, the Transport Secretary and HS2 Ltd announced yesterday. Transport Secretary
The Bank of England chances of increasing interest rate is swiftly diminishing as new restrictions were announced yesterday to curb the spread of the new Omicron coronavirus variant. The BoE has hinted since the pandemic became the first central to raise rates. However,
In “normal times,” the days leading to Christmas and New Year are hectic for business sectors that have significantly suffered from COVID containment measures. Lockdown has sent most consumers to the internet to do their shopping, and footfall has generally crashed since
All four tech companies who were part of an inquiry into economic crime, have now responded to a request from Mel Stride MP, Chair of the Treasury Committee, to explain their current policies on combatting online fraud, scams and economic crime on
Traditionally, importing people was the primary strategy to solve skill and labour shortages in the UK. Recruiters roamed villages in Bangladesh to recruit workers for tyre factories. London transport sent recruiters to the Caribbean; the NHS heavily recruits nurses from abroad, etc.
With inflation reaching an all-time high in August rising to 3.2% it’s no wonder that families up and down the country are struggling to make ends meet. Add in the upcoming price rises to energy bills, national insurance, and cuts to universal
An investment trust focused on renewable energy is expected become the first company with an all-female board to float on the London Stock Exchange. Atrato Onsite Energy, which has announced plans to raise £150m by listing in London, is run by three women
When you do building work in your home things around you usually get very bad before they get better. The moment comes when you have had enough of eating meals cooked in the microwave in the spare bedroom and washing dishes in
In 2018, the British financial industry was the source of over a third of all the tax revenues, either directly through taxes paid by companies or indirectly through the PAYE of employees working in finance. When the UK was part of the
The daily lives of residents in the United Kingdom are affected by the lack of people in many jobs. The economy is picking up from the months of lockdown, businesses are re-opening, and they cannot find people to fill the vacant position.
The Night Time Industry Association (NTIA) has warned that safety in nightclubs and other music venues could be jeopardised due to a lack of bouncers. CEO of NITA Michael Kill blames the lack of security staff at venues on people quitting their positions during
Car manufacturer Ford is preparing to invest £230 million into its Halewood plant in Merseyside County as part of a drive to start making more electric car parts. The investment will mean the factory will run for several more years and safeguard 500 jobs,
The effects of the pandemic have never been more apparent than the recent fuel crisis in the UK, when pumps across the country ran dry. With supply chains across the globe facing increasing challenges, China is currently amid a drastic energy crisis
Inflation has become a substantial part of the UK’s reality, and it’s growing harder to ignore. Now, it’s not just a topic of conversation for bankers and investing enthusiasts; it’s a reality felt by the ordinary citizen who’s startled by his energy
Businesses involved in channelling crucial carbon dioxide supplies to the food and drink industry have struck a deal aimed at averting shortages of products such as meat and fizzy drinks until January next year. The government was last month forced to provide a
Facebook has told the BBC that it took part in an effort to help 175 citizens leave Afghanistan after the Taliban took control of the country. The company said some staff members were also on the flight to Mexico City. The Mexican
For the first time in nearly 20 years, a new flavour Wipsa bar has been developed and it will be available to all Cadbury fans in September. The chocolate giant has been working hard to create the Wispa Gold Hazelnut Flavour but
Britain’s biggest retailers are warning their stock levels have fallen to the lowest since 1983 amid a sharp drop in imports and pandemic staff shortages across the economy. The Confederation of British Industry’s monthly survey of big retail and wholesale firms found that stock
Shareholders in the asthma inhaler maker Vectura have been urged to reject a £1.1bn takeover by the tobacco company Philip Morris International (PMI), in an open letter signed by 35 health charities, public health experts and doctors from around the world. Investors in the
The Serious Fraud Office (SFO) has launched an investigation into entrepreneur Gavin Woodhouse, whose business dealings were revealed by an undercover investigation by the Guardian and ITV News. The UK’s anti-corruption agency said it was investigating “suspected fraud and money laundering in relation to … Woodhouse
Taylor Wimpey, one of the UK’s biggest housebuilders, has returned to profit and upgraded its earnings targets after building a record number of homes in the first six months of the year. The High Wycombe-based firm built more than 7,300 homes in
International cruises will be able to start again from England from 2 August after a 16-month break. People arriving at UK ports who have been fully vaccinated in the US and the EU will also not have to quarantine, the UK government
At a public library in London, staff members are filled with nerves about “freedom day” on 19 July. Billed as the big unlocking and an end to social distancing rules and mandatory face coverings in England, they fear for their safety as Covid
Food prices could rise by about 5% by the autumn – and turkeys and pigs in blankets could be in short supply this Christmas – as shortages of delivery drivers, abattoir staff and other workers drive up pay and other costs. Industry
The UK car industry continued its weak recovery from the pandemic in June with sales well below pre-Covid-19 levels, as the continuing popularity of electric vehicles provided a rare bright spot. Sales of battery-powered electric cars more than doubled year-on-year to 19,800 for June,
The former chair of the Competition and Markets Authority (CMA) has said the huge online marketplace fostered by tech companies such as Amazon, Facebook and Google means the opportunity to “rip off ordinary people” is growing and that the regulator is struggling to keep
Combine the pandemic with rising raw material costs, stir in a labour shortage, a twist of Brexit, add a pinch of poor weather and voila … Tinned tomatoes are a taken-for-granted store cupboard staple, relied upon by Britons to whip up
London’s hopes of attracting more technology companies looking to float on the stock market have received a shot in the arm after the fintech firm Wise chose the City for a rare direct listing expected to value the company at up to £9bn. The
The West End landlord Shaftesbury has reported a wider first-half loss but is hopeful that a recovery in central London is under way, with its vacancy rate improving. The company, which owns 600 buildings in Carnaby, Seven Dials and Chinatown, and also
Factory output grew this month at the fastest rate since December 2018 to record the first large increase in UK manufacturing production in almost two years. Chemicals producers, electronic engineering firms and metal factories reported the strongest growth, with output up in 12 of
Famed in the US for its legendary burgers, Wendy’s has announced its plans to roll out restaurants across the pond. It has been announced that this summer, the American fast-food chain will be opening its first UK-based restaurant. To the delight of
The owner of British Gas has warned investors it has faced a difficult start to the year, weeks after sacking hundreds of its engineers through a controversial fire and rehire scheme to help turn the business around. Centrica told its shareholders its financial outlook
Pandora has become the first big jeweller to turn its back on mined diamonds, with the switch to lab-grown stones billed as making its jewellery more affordable. On Tuesday the mass-market brand, best known for its charm bracelets, launched Pandora Brilliance, which it
The pandemic turned 2020 into the year that fashion forgot as successive lockdowns made getting out of your pyjamas an achievement. But sales of high heels, handbags and lipstick are now roaring back as pub gardens, friends’ patios and the prospect of
The UK’s biggest building society is increasing the sums it is willing to lend first-time buyers in a move it said would enable homeownership for many people who have been frozen out of the market. Nationwide will allow new buyers to take
The property group British Land is looking to acquire more out-of-town retail parks, as it expects consumers will still want to shop at open-air locations that are accessible by car even after pandemic lockdown measures are eased. The company, which owns shopping malls including
Britain’s construction sector has had its sharpest pick-up in activity since 2014 amid signs that the domestic economy is recovering more quickly than Brexit- and pandemic-affected trade flows, new figures have shown. The latest snapshot of the construction sector, which accounts for
It’s time to switch to a renewable energy tariff. This is the well-meaning advice given to eco-conscious households across the country that are eager to play their part in reducing greenhouse gas emissions. About 40% of the UK’s CO2 emissions are created in
High street shops are preparing for a continued period of working from home with the production of “work from home” suits. Marks & Spencer,which has seen a 42% increase in searches for formal clothes since February, has produced a smart-casual suit made
Camera retailer Jessops is to appoint administrators for the second time in little more than a year, in a move that puts 120 jobs at risk. The business, controlled by Dragons’ Den panellist Peter Jones, said it had filed a notice to appoint administrators
To the dates 4 August 1914 and 3 September 1939 can now be added a third: 23 March 23 2020, the day the government declared war on Covid-19 and announced a lockdown to combat the virus. It’s strange how history repeats itself. The same
Britain’s biggest car manufacturers lobbied the government to delay a ban on petrol and diesel cars by warning that sales would plunge and jobs would be at risk from accelerating the transition to electric vehicles, the Guardian can reveal. The government announced in
Aldi will launch its first flat-bottomed Easter egg next month. Its bottom is square instead of round so that less plastic can be used in its packaging. The discount retailer’s non-round egg is called the Geometric Egg. Made of blonde chocolate, it has
Barclays has paid its chief executive, Jes Staley, £4m and handed larger bonuses to its bankers despite a 30% drop in annual profits during the Covid crisis. Pre-tax profits fell to £3.1bn for 2020 from £4.4bn a year earlier, with earnings hit
The mobile operator O2 has been fined £10.5m for overcharging 140,000 customers several million pounds as a result of billing errors that persisted for almost a decade. The telecoms regulator, Ofcom, said the fine – which was reduced from £15m because of O2’s cooperation with
COVID-19 has changed consumer buying habits, with many adopting a digital approach to their shopping. On the one hand, sales of prestige beauty products in brick and mortar stores declined 44% in 2020 when stores were forced to close intermittently due to government restrictions,