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Economy
The European Central Bank has cut interest rates a third time in a year
The European Central Bank has reduced its interest rates for the first time in over a decade. It has lowered its key rate 25 basis points to help support a weakening eurozone economy. The bank has lowered its main deposit rate from 3.5 to…
What is the impact of falling inflation on borrowers and savings?
The Bank of England has predicted that the base rate will be further reduced this year due to a larger-than expected fall in consumer price inflation. This is good news for homeowners.
CPI dropped from 2.2% in the previous year up to…
Goldman Sachs’ traders’ winning streak drives surge of profits
Goldman Sachs profit increased by 45 percent to $3 billion, the best quarter in equities since 2021. This is a sign of optimism for the strength and stability of the American economy.
The US investment bank was able to beat analysts'…
Elon Musk is not banned from the UK Investment Summit, according to cabinet minister
A cabinet minister said that Elon Musk could be invited to future UK investment summits, provided he has investment programs the UK can bid for. This was before a major London business event. The remarks were made as a group private equity…
Reeves: Cut regulations to help Britain grow
Their bosses said that the top five British banks could help the government achieve growth and prosperity if they were shielded from additional regulations.
HSBC, Lloyds, Santander, NatWest, Barclays and NatWest leaders called today for…
Big banks and companies say that Britain is ready to invest.
Before the start of important business talks in London, the biggest banks and corporations around the world said that Britain was ready for investment. It also has "a very real opportunity" to expand its economy.
Five of the largest…
The 2025 Budget of French PM Michel Barnier includes shock therapy
In an effort to reduce its growing deficit, the French government proposed a budget that would cut spending by €60bn and increase taxes on wealthy companies. Prime Minister Michel Barnier made tackling France's 'colossal' public debt his…
Mark Carney: Change the fiscal rules so that the assets of the nation are included
Mark Carney, former governor of Bank of England has given his support to Labour's proposal that the national debt be recalculated by including assets. He argues that this will stimulate an economy "starved of investment".
Carney, in his…
Financial Times records record readership
The Financial Times reported a record number of paying readers at 1.4 million, although profits dropped sharply because of higher costs.
Business publication reported that the pre-tax profit for the year ended December 2012 was £3.9m,…
Chinese stocks have their worst day since the pandemic
Chinese stocks fell the most in a single day since the pandemic, amid fears the government's measures to revive the second largest economy of the world will fail.
The Shanghai Composite Index, China's benchmark index, dropped 6.6% on…
Pension funds demand UK fiscal rule changes to spur investment
Investors who manage £1.7tn in assets have called on UK chancellor Rachel Reeves, to overhaul Britain's fiscal regulations to unlock billions more pounds for infrastructure projects.
The group of Pension Investors, including Australia's…
Ocado, AA and growing protest against London congestion charges for electric vans
Over 40 companies, including Ocado and the AA, have called for the Mayor of London not to expand the congestion charge on electric vans.
Christmas Day 2025 will see drivers of electric cars in central London paying the same £15 per day…
Eric Schmidt, former Google boss, to attend UK International Investment Summit
Former Google boss Eric Schmidt is one of many high-profile executives who will be attending the first international investment summit organized by the Labour government. Schmidt, former Google chief executive between 2001 and 2011, will…
Bank of England Chief Economist warns against cutting interest rates too much
The Bank of England chief economist stated that interest rates should fall slowly and remain higher in the long term to combat stubborn inflation. This suggests a growing disagreement among central bank rate-setters.
Huw Pill predicted…
Andrew Bailey: Bank could be aggressive in cutting interest rates
Andrew Bailey said the Bank of England may become "a bit more aggressive" with its interest rate reductions if inflation continues decreasing. Analysts suggest the Bank might embark on successive rate cuts continuing through next year. The…
Markets most at risk from world conflict
Banks and investment firms are increasingly worried about geopolitical risk, according to the Bank of England. This is due to the Middle East conflict. In its latest survey, the Bank polled 93 percent of firms who cited geopolitics to be…
Treasury asks ministers to prepare billions of pounds in infrastructure cuts
The government is asking ministers to cut billions of pounds from infrastructure projects in the next 18-months, despite Rachel Reeves promising to invest more for the growth of the economy. Sources in the government said that members of…
French Premier Michel Barnier announces tax increases and spending cuts
Michel Barnier, France's new Prime Minister, warned that the repair of the degraded country's public finances would require years of "collective efforts" and announced "temporary targeted" tax increases on large businesses and the wealthy.…