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
The International Monetary Fund (IMF) has warned that inflation in countries like the UK and the US is proving “persistent,” potentially requiring interest rates to remain elevated for a prolonged period. This persistence in inflation, particularly in the services sector, continues to
The UK economy grew by 0.4% in May, twice the forecasted rate, driven by strong performances in retail and construction, according to the Office for National Statistics (ONS). This growth marked a rebound from zero growth in April, which had been affected
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
UK inflation remained at the Bank of England’s target rate of 2% in June, according to the latest official data. While discounts on clothing helped offset higher hotel costs, the overall inflation rate remained unchanged from May, providing some relief after years
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
London (Parliament News) – A leading think tank warns of looming tax increases in the UK, projecting an average burden of £800 per household annually by 2028-29, irrespective of the election outcome. Both major parties remain silent on reversing these measures. What
London (Parliament News) – UK retailers, led by Bira, file £1bn claim against Amazon, accusing it of using vendor data to launch rival products and manipulating access to the “buy box,” harming independent sellers. Amazon denies allegations. Independent UK retailers have undertaken
London (Parliament News) – Investors in Boohoo are seeking over £100m in damages after revelations of labour abuses in 2020 led to a share price plummet. Boohoo contests the allegations, sparking a landmark legal battle. A group of investors in Boohoo are
London (Parliament News) – Whistleblowers allege Standard Chartered processed billions in illegal transactions for Iran-linked entities and terrorist groups. They claim forensic data analysis uncovered hidden transactions, prompting a motion to revive their case in court. Whistleblowers have asserted Standard Chartered allegedly
The proposed VAT hike has sparked widespread concern among parents and educators alike. Critics argue that the increase in fees could lead to a decline in the number of students attending private schools, as more families may be priced out of the
Recent court documents in the U.S. have brought serious allegations against Standard Chartered, one of the largest banks in the UK. The bank is accused of facilitating billions of dollars in transactions that allegedly funded terrorist organizations, raising significant concerns about compliance
London (Parliament News) – DS Smith’s CEO urges UK election winner to enforce stricter plastic packaging rules and promote green consumption. The company has already replaced over 1 billion plastic pieces ahead of schedule. Whoever succeeds in the UK general election must
In recent months, UK mortgage holders have faced significant financial pressures as rising costs continue to impact household budgets. The Office for National Statistics (ONS) reported an increase in household expenses, shedding light on the particular struggles experienced by those with home
London (Parliament News) – Shareholders of Royal Mail and Anglo-American face takeover deadlines, potentially leading to foreign ownership. Czech billionaire Křetínský targets Royal Mail, while Australia’s BHP pursues Anglo-American. Shareholders in Royal Mail’s proprietor and the mining group Anglo American are awaiting
London (Parliament News) – Research reveals that Britain’s brick imports are surging, with each brick’s carbon footprint growing. The UK leads in imports, raising concerns over emissions and sustainability. Britain is importing more of its bricks than ever and the carbon expense
London (Parliament News) – Britain’s interest rates may drop this summer, as the Bank of England considers a decrease due to decreased inflation. Analysts debate whether inflation will rebound, with some foreseeing a rate cut as early as June. Britain’s interest rates
London (Parliament News) – Marks & Spencer is expected to announce a 35% rise in annual profits, reaching £653 million, driven by strong sales in food, clothing, and home sectors. The retailer’s turnaround includes cost-cutting, store closures, and resumed dividends. High street
London (Parliament News) – UK engineering firm Arup lost HK$200m (£20m) to criminals via deepfake video call. The employee was deceived into transferring funds. Arup confirmed financial stability remains intact. Hong Kong police investigation ongoing. The UK engineering company Arup has affirmed
London (Parliament News) – The New Křetínský bid initiates a headache for the UK government amid increasing scrutiny on foreign appropriations of critical infrastructure. The owner of Royal Mail has taken a £3.5bn bid for the postal company from a Czech billionaire
London (Parliament News) – Britain emerges from recession as economy grows by 0.6% in Q1, marking a return to transition. Stronger growth than expected was driven by the services sector, but challenges remain amid predictions of slow recovery. Britain is officially out
London (Parliament News) – The Bank of England holds rates at 5.25%, hints at potential cuts in June due to positive inflation trends and economic outlook. Members divided, two voting for an immediate cut. Governor suggests June cut possible. The Bank of
As the next government prepares to take the reins of the United Kingdom, the National Institute for Economic and Social Research (NIESR) has issued a significant call to action. Highlighting the need for substantial changes in fiscal policy, NIESR has argued that
London (Parliament News) – Alstom plans to raise €1bn to reduce debt, addressing struggles amid delayed orders and concerns about its Derby factory’s future. The move includes a €750m bond issue as part of a €2bn finance plan. How Does Alstom Plan
London (Parliament News) – Car manufacturers call for urgent action to boost electric vehicle sales, as private consumer demand declines despite fleet sales growth. Suggestions include tax cuts, incentives, and expanding charging infrastructure. Car manufacturers have urged for pressing action to reignite
London (Parliament News) – Heineken plans to invest £39m in reopening and renovating nearly 60 UK pubs, targeting suburban locations to attract remote workers and capitalize on changing consumer habits post-Covid. Heineken is to expend £39m on reopening nearly 60 UK pubs
London (Parliament News) – OECD predicts the UK to be G7’s weakest performer in 2025 due to inflationary pressures and skilled labour shortages. The global economic outlook remains modest but improving, with varied growth rates across major economies. Britain will be the
The UK government is under increasing scrutiny as its failure to reform the business rates system has sparked widespread criticism, particularly from sectors like hospitality and retail. The absence of reform has led to significant financial strain on businesses, with the additional
London (Parliament News) – HSBC CEO Noel Quinn resigns after an ‘intense’ five-year term, overseeing better-than-expected profits. A successor hunt begins as the bank looks to sustain growth. Quinn reflects on his tenure and plans. The chief executive of HSBC, Noel Quinn,
London (Parliament News) – Chuka Umunna, a former shadow business secretary and current JP Morgan banker, lobbies Labour on behalf of Czech billionaire Daniel Kretinsky for the acquisition of Royal Mail, sparking controversy and union backlash. Who is Behind the Push for
London (Parliament News) – MPs Question Government Transparency on EU Plant and Food Border Checks Lawmakers express concerns over Brexit border control delays, demanding clarity from the UK government on the phased implementation of checks. MPs have raised concerns over the UK
