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
