Economy

According to the shadow monetary committee, Bank of England's interest rate should remain unchanged at 5% this month. It also needs to accelerate its gilt sales. The shadow MPC, which is responsible for deciding the interest rate on…

According to a report on Britain's missing workers, the UK workforce is shrinking faster than it has in the past 40 years, costing £25 billion annually and adding $£16 to fiscal pressures to the public finances. The UK has one of the most…

After the annual inflation rate in the UK remained at 2.2% in August, it is expected that Bank of England will keep interest rates unchanged on Thursday. Official figures reveal that consumer prices remained stable from July to August when…

US consumer spending was unexpectedly high in August despite a slowdown on the labour market.The US Department of Commerce Census Bureau reported that retail sales rose by 0.1 percent after a 1.1 percent increase in July which was upwardly…

A left-of centre think-tank said that the government should invest £15bn per year in a radical reform programme designed to improve national prosperity and wellbeing. The Institute for Public Policy Research said that the UK's worsening…

Kingfisher, the owner of B&Q, has increased its forecast for its lower end despite a weaker demand for high-ticket items. Its French business is also still struggling. As a result of signs that the housing market is improving in…

AllSaints has achieved another record-breaking year in terms of revenue and profit. The fashion retailer's sales and John Varvatos (its American subsidiary brand) rose by 0.6 percent to £459.5 in the 12 months ending February 3.…

According to a new analysis, the Bank of England's decision of selling back bonds to investors to reduce its balance sheet quickly could cost the government as much as £96 billion over the next few years. The New Economics Foundation…

Rachel Reeves was warned that closing the private equity loophole, which would raise at least PS500m, could lead to a mass exodus of rich individuals and reduce the revenue that the chancellor hoped to generate. EY, a professional…

The European Central Bank has cut interest rates a second year in a row amid growing concerns over a possible recession in the Eurozone. The 20 central banks that use the Euro lowered their main deposit rate on Thursday by a…

John Lewis Partnership said that it was on track to grow profits "significantly" this year, after recovering the "buzz", and cutting losses while refocusing on its core business. The employee-owned partnership that owns the Waitrose…

Spread-betting specialist IG Group has reported a 15% increase in revenue for its first quarter. This was driven by increased trading activity, as customers tried to take advantage the market turmoil that occurred in August. The FTSE 250…

Mountain Warehouse is planning to open 50 new stores in the UK next year, despite fears that the high street will die. Outdoor clothing chain, The Outdoor Clothing Company, has announced a massive expansion of its physical stores in…

A report claims that the online gambling industry, worth billions of pounds, has had "negative impacts" on the UK's economy. The report was commissioned by Campaign for Fairer Gaming, and produced by National Economic Research…

The concrete test track in Bedfordshire is a circular swath through lush countryside. It's usually the place where high-performance vehicles are tested, but last weekend it was a less frantic form of transportation: a hydrogen prototype…

According to Sir Nigel Wilson, a City grandee, the UK must overhaul its capital market to attract £1tn in investment over the next decade for housebuilding, infrastructure, and new start-ups. His report published on Friday stated that…

City taskforce says the UK will need to invest £1tn over the next 10 years if it is to meet its economic growth goals. The Capital Markets of Tomorrow Report, headed by City veteran Sir Nigel Wilson and former Legal & General boss,…

The British Chambers of Commerce (BCC) has issued a stark warning about the UK's inflation outlook, projecting that consumer price inflation will climb steadily to 2.6% by the end of the year and remain above the Bank of England's 2% target…