Browsing Category
Economy
Reeves takes action to address the ‘covered-up’ £22bn shortfall in the budget
Rachel Reeves cut winter fuel payments to 10 million pensioners who are wealthier. She did this in order to plug the £22bn hole that she claimed was "covered up by the Conservative Government" and hinting towards tax increases in her first…
How Rachel Reeves promotes Britain as a safe haven for global money
Labour's drive to make the UK an "island" of stability seems to have been perfectly timed.
Rachel Reeves is promoting Britain as an investment destination that has recently become more stable.
The new Chancellor will encourage…
Boardrooms gearing up for growth
After Labour's overwhelming victory in the general election this month, optimism among senior executives of some of Britain's largest businesses has increased.
According to Deloitte’s latest survey, chief financial officers are more…
After a three-year wait, Revolut receives a UK banking license
Revolut secured the long-awaited bank licence from City regulators. This will allow it to compete with high street banks, and improve consumer protections in Britain for millions of Revolut customers.
The Financial Technology Group had…
Savings by Lloyds customers are causing a decline in profits
The UK's largest domestic lender posted a decline in profits for the first half of the year as the interest rate boom that benefited the banking sector faded.
Lloyds Banking Group reported that its pre-tax profit for the six months…
The biggest barrier to US companies investing in Britain is tax fears
According to a BritishAmerican Business trade association, tax has surpassed political stability as the number one reason US companies cite for not wanting to invest in the UK.
The index showed that the overall US investor sentiment…
UK economy growing faster than expected: flash PMI
A closely-watched survey revealed that the UK private sector's economy grew faster than expected, and inflation dropped to its lowest level in three and a half years this month. This "welcoming" picture for Labour is a welcome one,…
The Pound is set to reach $1.35 at the end of the year
The pound will rise to its highest level against the US Dollar in over two years due to the optimism surrounding the UK economy, and the greater political stability of the UK compared to Europe and America.
Amundi, an asset manager in…
Rachel Reeves’ charm offensive in New York to boost UK investment
Rachel Reeves will be courting Wall Street titans in an attempt to boost US investments in the UK next month.
The chancellor plans to visit New York early in August to meet with some of America's largest investment firms.
A one-on-one…
Carpetright saves 300 jobs after founder returns to the floor
Lord Harris of Peckham, who built Carpetright from the ground up 35 years ago, has signed a multimillion pound deal in order to save it.
Tapi, a rival flooring chain that he co-founded later, purchased the Carpetright trademark,…
Britain is losing out because of the tourist tax
The boss of Longchamp, who called for the reinstatement of tax-free shopping in Britain, warned that Britain was losing out on tourists with high spending habits.
Jean Cassegrain said that the resurgence of tourism in London was "less…
The UK job market is cooling again as wages growth slows
The UK wage growth in May slowed to its lowest level in the past two years, amid a cooling job market. This highlights the challenges facing the Bank of England in deciding whether or not to reduce interest rates.
The Office for National…
UK wages growth slowest in two years
The Bank of England is debating whether or not to reduce interest rates in the next month. This slowdown in wage growth in Britain in May was the lowest in almost two years.
According to official figures, the average weekly income,…
The pound rises after the hopes of a rate cut recede
The pound reached a new high against the US dollar, as traders re-wrote their bets about a rate cut by the Bank of England in the next month.
The pound rose 0.45 percent against the dollar, to $1.30. This is the highest level since July…
Rachel Reeves gets a boost as the UK’s growth forecast is upgraded
The International Monetary Fund upgraded its growth forecasts for the UK's economy in this year. This is a major boost to the Labour Government, just weeks after the General Election.
The Washington-based fund stated that the UK is on…
Goldman Sachs boss says that the capital markets are in an early stage of recovery.
Goldman Sachs' chief executive hailed "the early innings of a recovery in capital markets and M&A" after the investment firm announced that its quarterly profit more than doubled from the previous year.
The American Investment Bank,…
MPC member urges MPC to cut interest rates in order to reduce living costs
One of Bank of England’s doveish rate-setters called for interest rates to be cut in order to reduce the cost of living, and because inflation is on a “firm downward trajectory”.
Swati Dhingra is an external member on the monetary…
S&P warns that UK debt is still a weak spot
One of the leading rating agencies in the world has warned that the UK's high level of debt and its "constrained" fiscal future remain a weakness for the country's sovereign debt status.
S&P Global stated that the UK's debt was on…