London (Parliament News) – Bank of England cautious on interest rate cuts as UK PMI strengthens, signaling economic recovery amid inflation concerns. The possibility of a summer cut in UK interest rates was reduced on Tuesday after the Bank of England’s chief
The UK’s job market is showing signs of slowing down, with unemployment rising to 4.2% between December and February, its highest in six months. During the same period, the employment rate dipped, and economic inactivity—people not working or seeking employment—slightly increased. Economists
A potential TikTok ban in the US could have a “potentially devastating” effect on some UK businesses, online traders are cautioning. President Biden has signed a bill mandating TikTok’s Chinese owner, ByteDance, to sell its stake in the app within nine months
London (Parliament News) – Brexit import checks delay causes business chaos. Businesses face uncertainty over implementation as the government postpones checks on EU imports. Businesses have conveyed Britain’s Brexit border designs as being in “complete disarray” after it emerged the intro of
London (Parliament News) – UK faces a second year of stagnant living standards, IMF forecasts. Despite expected growth, inflation and economic challenges persist into 2024. UK’s households will bear a second year without any progress in their living standards in 2024 as
London (Parliament News) – The Sun faces a £66m loss, with declining online readership and ongoing phone-hacking litigation costs. Despite challenges, Times Media reports profit growth. The Sun failed £66m last year and its online viewership declined by 4 million readers as
London (Parliament News) – Ted Baker is closing 15 UK stores, resulting in 245 job losses, as it faces administration challenges and seeks new operating partners. The high street fashion brand Ted Baker is to shut 15 stores across the UK with
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
Retail sales volumes in the UK plummeted by 3.2% in December, marking the steepest decline since the country was in a Covid lockdown. Official figures from the Office for National Statistics (ONS) revealed a significant drop in demand for goods, including a
The International Monetary Fund (IMF) has advised the UK against further tax cuts as it released its latest assessment of the global economy. The IMF warned that maintaining public services and investment would require higher spending than currently planned by the UK
Shop prices in the UK rose at their slowest rate in more than 18 months in January, according to the latest report from the British Retail Consortium (BRC). Inflation, the rate at which prices increase, has reached near-record highs recently, contributing to
London (Parliament Politics Magazine) – The party wants to fund nurseries at the nation’s elementary schools. However, it’s unclear how the plan which calls for additional staff will be funded. Labour came under fire yesterday for proposing plans to provide thousands of childcare
London (Parliament Politics Magazine) – “I believe that, like many businesses throughout the UK, businesses in the South West had a difficult year.”In an interview, Amanda Dorel, regional director for the South West at Lloyds Bank Commercial Banking, discussed how businesses and their
London (Parliament Politics Magazine) – Rituals, a beauty and wellness brand, “marks an exciting time for the brand in growing its retail presence across the United Kingdom and Ireland” with the launch of its new premium shop in Belfast. Customers can discover
UK (Parliament Politic Magazine) – UK businesses are feeling hopeful about their future prospects as they anticipate reaping the benefits of investments in new AI technology. However, confidence has experienced a decline during the first half of the year due to global
UK (Parliament Politic Magazine) – Vaping has become the growing trend of the 21st century, with exceeding 1 billion dollar sales alone in the united Kingdom. The government of the United Kingdom has banned the use of nicotine through cigarettes, cigars and
Europe (Parliament Politic Magazine) – The European markets in light of the federal reserve’s meeting awaits the policy making results from the state while shunning the investors as they await the revelation reports for the United States inflation reports. The pan-European Stoxx
UK (Parliament Politic Magazine) – Following the cancellation of Australia’s annual Australia Day Gala Dinner in London by the country’s high commissioner to the UK, opposition leader Peter Dutton has called on Prime Minister Anthony Albanese to step in. Because of the
London (Parliament Politics Magazine) – SMEs are currently encountering significant economic challenges. In addition to grappling with high interest rates and persistent inflation, there is another potential obstacle on the horizon. The rise in collective action lawsuits poses a risk of gradually
London (Parliament Politics Magazine) – In an effort to spur expansion, Cluttons’ partners have executed a management buyout of the business. According to the report, the company has secured more funding from Treun Capital to support its global goals. It makes use
London (Parliament Politics Maganize) – The largest mortgage lender in the UK says that house prices increased once more last month and that there are indications that the market is becoming more active. According to the lender, typical house prices are 1%
We no longer speak of Brexit, based on the word “exit” which means “exit” but of “Breget”, in reference to the word “regret”. Economic circles are looking gloomy. They were not the most favorable to withdrawal from the European Union; in the
No recession yet. This is the conclusion that we can draw from the results published this Friday by the National Statistics Office (ONS). The statistical institute thus reports a slight growth in British gross domestic product (GDP). This increased by 0.1% in
London (Parliament Politics Maganize) – Vulcan Works, a serviced workspace hub catering to startup businesses in Northampton, has been honored with the Innovation Award at the Northamptonshire Business Excellence Awards (NBEAs). The accolade was jointly presented to the West Northamptonshire Council and
UK (Parliament Politics Maganize) – The government has increased the price for generating electricity through offshore wind farms by 66% in an effort to attract investment from energy firms. This adjustment follows a failed auction for offshore wind projects, where companies deemed
UK (Parliament Politics Maganize) – UK Business and Trade Secretary Kemi Badenoch and Florida Governor Ron DeSantis are set to formalize a Memorandum of Understanding (MoU) on Tuesday, November 14, aimed at bolstering trade and investment ties between the UK and Florida.
UK (Parliament Politics Maganize) – The government’s proposal to streamline the submission of hazard information for registering substances under the UK’s chemical regulatory regime has been well-received by the chemical industry. In response to the UK’s exit from the EU, the Department
UK ( Parliament Politics Maganize ) – In October, UK business confidence experienced a notable dip to its lowest level of the year, marking the second successive fall. This decline, as revealed in the latest quarterly UK Business Outlook by Accenture and S&P
UK ( Parliament Politics Maganize ) James Halstead plc (LON:JHD) is set to go ex-dividend in the next three days. The ex-dividend date usually precedes the record date by one business day, with the latter being the day a company identifies eligible
UK (Parliament Politic Magazine) – Several UK businesses have secured contracts to aid in the development of the HS2 project. Recently, Prime Minister Rishi Sunak declared the cancellation of the northern leg of the HS2 scheme from Birmingham to Manchester. The allocated
UK (Parliament Politic Magazine) – The UK economy showed no growth between July and September, according to recent data, following a series of interest rate hikes. The chancellor acknowledged that the higher rates were impacting growth but noted that the economy had
London ( Parliament Politics Magazine ) RMT members are set to vote on a proposed pay deal that could put a pause on the ongoing industrial action against train companies. The offer, presented by operators, includes retroactive pay increases and assurances of
UK (Parliament Politic Magazine) – In a startling revelation, the latest “Red Flag Alert” report from Begbies Traynor has unveiled a grim scenario in the UK business landscape. Nearly 40,000 companies are on the precipice of insolvency, driven by a 25% surge
UK (Parliament Politic Magazine) – It’s UK International Trade Week, and Amazon is commemorating the numerous sellers who use Amazon as a platform for international exports. The week kicks off today, with thousands of businesses actively participating in activities aimed at enhancing
UK (Parliament Politic Magazine) – In an upcoming legislative announcement featured in the King’s Speech later this week, the government is set to enforce a requirement for the North Sea Transition Authority (NSTA) to annually solicit applications for new production licenses. This
UK (Parliament Politic Magazine) – An Australian firm that acquired the struggling battery manufacturer Britishvolt has reportedly neglected to compensate its UK employees for the past four months, according to information obtained by the media. Recharge Industries assumed control of Britishvolt following
UK (Parliament Politic Magazine) – These comprehensive reforms aim to halt the influx of illicit funds into the U.K., enhance the integrity of the national company registry, and shield financial journalists from baseless legal actions. Nonetheless, experts caution that they might not
England (Parliament Politic Magazine) – he Bank of England predicts zero growth in the UK economy until 2025. This announcement coincided with the Bank’s decision to maintain interest rates at 5.25% for the second consecutive time, marking the highest level in 15
UK (Parliament Politic Magazine) – While casual pub conversations may not revolve around this topic, within the financial world, there’s a growing apprehension that has captured the attention of fund managers and investors alike: the bond markets. These markets have been on
London (Parliament Politic Magazine) – The year is on course to witness the highest number of business bankruptcies since the depths of the 2009 financial crisis. Official data for England and Wales reveals a 10% increase in insolvencies over the past year,
London (Parliament Politic Magazine) – HSBC to Distribute Over $3 Billion to Shareholders as Quarterly Profits Soar Amidst Higher Interest Rates, Despite China’s Property Crisis Impact HSBC, headquartered in London, has announced its plans for a share buyback exceeding $3 billion (£2.5
