Business - Page 3

London (Parliament Politics Magazine) – Sales of some new hybrid cars will be authorised until 2035, the government has stated, but it rejected that this was a change to a manifesto commitment to ban petrol and diesel cars from 2030. Ministers scheme

London (Parliament Politics Magazine) – The Bank of England has relaxed new capital rules pointed to shock-proof the banking system from another 2008-style crash, in a motion the Labour government states will bolster its economic growth plans. The regulator stated it had

London (Parliament Politics Magazine) – WH Smith is to provide investors with a £50m windfall as holidaymakers snapping up travel essentials allowed a boost in summer sales at the retail chain. The retailer stated it would launch a £50m share buyback an

London (Parliament Politics Magazine) – Barratt and Lloyds Banking Group have undertaken a £150m joint venture with the government body Homes England that will conduct to the UK’s largest housebuilder and mortgage provider capitalising on Labour’s objectives to build 1.5m new homes.

London (Parliament Politics Magazine) – The online retail business Amazon has announced a pay upgrade worth about 10% for tens of thousands of UK workers, after beating a bid by the GMB trade union for bargaining rights over pay and conditions. Amazon

London (Parliament Politics Magazine) – Simon Case, the chair of the civil service, has supported the government’s figures indicating that a £22bn shortfall was exited by the previous Conservative administration. The cabinet secretary stated the Tories’ failure to hold regular spending reviews

London (Parliament Politics Magazine) – The North Sea industry has cautioned the government not to strengthen its windfall tax on oil and gas profits in the autumn budget, arguing it risks losing £12bn in tax receipts and threatening 35,000 jobs. The industry’s

London (Parliament Politics Magazine) – A senior Labour backbencher is aiming to have liabilities from schools and hospitals constructed under private finance initiative (PFI) deals analysed under a new budget responsibility bill. How Could the New Budget Responsibility Bill Impact PFI Liabilities?

The British Business Bank, the UK government’s economic development bank, is celebrating ten years of enhancing financial access for smaller businesses during Business Finance Week 2024. Running from September 26 to October 3, the week is dedicated to informing entrepreneurs about various

In mid-September, the Labour government released a highly anticipated fiscal statement featuring several pro-business measures aimed at bolstering economic growth. Key policies include: The business community reacted positively, with the CBI praising the statement as a significant boost to business confidence. Bank

London (Parliament Politics Magazine) – The UK financial watchdog is to analyse whether insurance firms are ripping off “vulnerable” customers who take out procedures designed to financially cover them and their families in case of severe illness or death. Are Insurance Firms

The Bank of England has announced a notable reduction in interest rates, lowering them from 5.25% to 4.75%. This decision, made during their August meeting, is significant as it reflects ongoing efforts to address inflationary pressures while supporting economic recovery. The cut,

London (The Brussels Morning Newspaper) – UK Ministers have been demanded to intervene to prevent businesses labouring with gas and electricity prices from going bust, as bills are predicted to be 70% higher next year than before the energy crisis. How Will

London (Parliament Politics Magazine) – The number of people aged 60 and older who are self-employed has reached a record of nearly 1 million in the UK, research indicates. What’s Driving the Rise in Self-Employment Among UK’s Over-60s? This denotes an addition

London (Parliament Politics Magazine) – Substantial spending on public services and welfare compelled government borrowing to £3.1bn last month, more than double its status in the same month a year earlier and more sinister than experts had expected. What caused the significant

London (Parliament Politics Magazine) – The first £1 coin carrying the official portrait of King Charles III has joined general circulation as part of a collection encouraged by plants and animals seen across the four nations of the United Kingdom. What Are

London (Parliament Politics Magazine) – Energy bills across the UK could increase by 9% from October to an average of £1,714 a year for the standard household’s gas and electricity, according to projections. What Are the Implications of the Projected 9% Rise

London (Parliament Politics Magazine) – The UK’s economy has expanded its recovery from recession after recording an expansion of 0.6% in the three months to June, handing a growth to the chancellor, Rachel Reeves, in the run-up to the autumn budget. How

London (Parliament Politics Magazine) – The UK housebuilder Bellway has withdrawn from a £720m takeover offer for its smaller rival Crest Nicholson after months of talks. Why Did Bellway Withdraw from the Crest Nicholson Bid? Bellway stated it “does not intend to

London (Parliament Politics Magazine) – Heathrow Airport has stated it experienced a 90,000 drop in passenger numbers on routes included in a £10 a person government plan. What impact has the £10 ETA fee had on Heathrow’s hub competitiveness? It represented the

London (Parliament Politics Magazine) – The number of assertions made by banks and landlords to repossess houses in England and Wales has attained the highest level in five years as households stumble with higher borrowing costs. How Have Mortgage Possession Claims Changed

London (Parliament Politics Magazine) – UK house prices raised by 0.8% in July, and lower mortgage rates are predicted to lead to continued expansion throughout the rest of the year, according to the mortgage lender Halifax. The average house cost in the

London (Parliament Politics Magazine) – The Bank of England urges major UK banks to enhance crisis preparations amid concerns over social media-driven panic.  How Is Social Media Affecting Bank Stability According to the Bank of England? The Bank of England has pointed

London (Parliament Politics Magazine) – UK house costs have grown at the most rapid rate in 18 months but high mortgage rates suggest many prospective buyers still encounter affordability challenges, Nationwide has stated. What Is Driving the Recent Surge in UK House

London (Parliament Politics Magzine) – Two of the biggest City firms have joined forces to fund as much as £20bn of pension finances in fast-growing UK businesses such as green energy, after government reforms created to increase returns for savers and the

London (Parliament Politics Magazine) – BP’s shareholders can anticipate a multibillion-dollar payout this year after the oil giant registered better-than-expected quarterly earnings of almost $2.8bn (£2.2bn) and set out strategies to develop a new oil headquarters in the Gulf of Mexico. Why

London (Parliament Politics Magazine) – UK business activity grew this month after a sharp elevation in new sales to a 15-month high, providing a lift to the new government as it schedules to summarise the state of the public finances next week,

London (Parliament Politics Magazine) – Hammerson has sold its 40% stake in Value Retail, which owns Bicester Village, to L Catterton for £1.5bn. The sale will raise £600m for Hammerson’s debt repayment and shareholder returns. How will Hammerson use the £600m from

London (Parliament Politics Magazine) – UK wage growth stalled in May to the lowest level in two years amid a cooling jobs market, highlighting the challenge for the Bank of England as policymakers determine whether to cut interest rates. Is UK Wage

London (Parliament Politics Magazine) – The live comedy business in the UK contributes more than £1bn to the economy every year, according to an analysis by Brunel University London. What is the economic impact of UK live comedy? In the first task

The U.S. dollar index fell slightly on Friday after data revealed a marginal slowdown in job growth for June, with nonfarm payrolls rising by 206,000, below expectations. The unemployment rate also edged up to 4.1%, slightly above the anticipated 4.0%. This data

London (Parliament News) – The chancellor, Rachel Reeves, is establishing a £7.3bn national wealth fund, as part of a campaign by the newly elected Labour government to draw billions of pounds of private sector cash for major infrastructure projects across the UK.

Brussels (Parliament News) – Belgian authorities increasingly use the central bank’s register to track tax fraud, money laundering, and serious crimes, accessing it 135,330 times in the first half of 2024. How Are Belgian Authorities Using Bank Data for Crime Tracking? Belgian

A new report reveals shocking levels of bullying, racism, and incompetence within the Nursing and Midwifery Council (NMC), the body responsible for regulating NHS nurses and midwives in the UK. The independent review highlights a dangerously toxic environment at the NMC, where

Housebuilders have rebounded sharply on the London stock market after Labour’s landslide general election success as investors bet that Keir Starmer’s commitment to bulldoze planning traditions and build 1.5m new homes would help the sector. Why did housebuilders see a sharp rebound

Lisa Nandy has been named the UK Secretary of State for Culture, Media, and Sport by newly elected Prime Minister Keir Starmer. Nandy, who has served as the Member of Parliament for Wigan since 2010, brings significant experience to the role. Prior

London (Parliament News) – Expansion in the UK service sector slowed last month due to election uncertainty, with business activity hitting a seven-month low. Analysts anticipate a bounce-back post-election amid cautious spending. How did the UK service sector perform in June? Expansion

London (Parliament News) – Tension caused by a global wave of elections, beginning this weekend in France, risks destabilising the UK’s financial system, the Bank of England has cautioned. How could global elections impact the UK’s financial stability? Officials are worried about

The United Kingdom’s economy rebounded more quickly than initially reported during the first quarter of 2024, according to revised figures released by the Office for National Statistics on Friday. However, the overall economic outlook remains uncertain as the country heads into a

London (Parliament News) – HSBC and Barclays are slashing rates on their fixed mortgage contracts in what some brokers claim could be the beginning of a “summer of savings” for homebuyers and those looking to remortgage. What prompted HSBC and Barclays to

Air travel is experiencing a resurgence, with an increasing number of people expected to fly this summer, despite the noticeable rise in fares. However, UK holidaymakers travelling to the EU are being cautioned about the “10-year rule,” which has led to some

London (Parliament News) – Britain’s debt burden hit its most elevated level since 1961 in May placing it within a hair’s breadth of the scope of the entire economy. Why Has UK Debt Reached Its Highest Since 1961? The UK national debt

For the first time in nearly three years, the UK’s inflation rate has returned to the Bank of England’s target of 2%. According to the latest report from the Office for National Statistics (ONS), the Consumer Prices Index (CPI) saw a year-on-year

Investment levels in the UK remain alarmingly low compared to other wealthy nations, and without significant improvements, economic growth appears unattainable, according to the Institute for Public Policy Research (IPPR). The think tank highlights that the UK’s total investment lags far behind

London (Parliament News) – A report preceding the G7 summit indicates UK regional cities lag behind counterparts in the US, France, and Germany due to underinvestment, hindering economic development and productivity growth. A neglect to invest in the UK’s main regional cities

London (Parliament News) – The Trades Union Congress (TUC) reveals the UK’s highest unemployment increase among wealthy nations, paralleled only by Costa Rica. Despite economic growth indicators, joblessness persists, accentuating concerns about long-term economic prospects. Unemployment is increasing in the UK at