British businesses saw their fastest activity growth in nearly a year this month, according to preliminary purchasing managers’ data. The figures suggest a stronger rebound from last year’s mild recession than economists had anticipated. However, rising business costs, driven by increasing wages
London (Parliament News) – The parent company of Thames Water defaults on debt, prompting concerns of restructuring or collapse. Shareholders declined £500m to stabilize finances. The parent company of disturbed Thames Water has revealed to its creditors it has defaulted on its
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Starting Monday, UK cars exported to Canada will be subject to a 6% tariff due to the expiration of a post-Brexit agreement that maintained EU trading terms. This change affects UK products that use EU parts and materials, meaning they no longer
Britain’s economy is projected to grow by 0.8% this year after entering a recession in the latter half of 2023, Finance Minister Jeremy Hunt announced on Wednesday, citing the latest forecasts from the Office for Budget Responsibility (OBR). This new growth figure
Britain’s economy has maintained its momentum in early 2024, with strong growth reported among service firms and business optimism reaching a two-year high, according to a recent survey. However, persistent inflation pressures are likely to keep the Bank of England cautious about
The United Kingdom has announced plans to invest over £100 million ($125 million) in artificial intelligence (AI) research and training, aiming to position the country as a global leader in the field. Unveiled on Tuesday, the government’s initiative includes the creation of
With interest rates holding steady at 5.25% since August, it may take some time before they begin to decrease. This poses challenges for the 1.6 million UK homeowners whose low fixed-rate deals are set to expire by the end of December 2024.
London (Parliament Politics Magazine) – The United Kingdom slipped into a technical recession in the second half of last year after recording two consecutive quarters of negative economic growth, according to official figures. The Office for National Statistics (ONS) reported on Thursday
London (Parliament Politics Magazine) – The Bank of England (BoE) has fined The Hong Kong and Shanghai Banking Corporation Limited (HSBC) £ 57.4 million for failing to save billions of deposits for hundreds of clients in a “serious” obedience breach that endured for
