Economy

One of Britain's largest infrastructure investors called Britain "a Banana Economy" with the ethos "Build absolutely nothing anywhere (or anyone)". But he said that there was a large amount of capital to change this. Dominic Veney,…

The low quality of high-street fashion contributes to the 30,000 containers of clothing, homewares and other goods that are thrown away by British consumers each year. John Lewis has launched the first products of a new clothing range…

Fund managers say that a new Labour government can raise additional money from the bond market for investments without creating a Liz Truss style gilts crisis. If Labour wins the 4th of July election, the Shadow Chancellor Rachel Reeves…

According to an TUC report, UK households will rack up additional unsecured debts totaling more than 1,600 pounds sterling this year. This includes loans and credit card debt. According to the TUC, its analysis shows that average…

Bank of England will likely leave interest rates unchanged for the seventh consecutive time at its Thursday meeting, despite the fact that inflation has returned to the UK official target for nearly three years. At midday, the central…

Even though inflation is down to 2% this year, consumers are still cutting back on their non-essential purchases, including eating out, buying takeaway food and clothes. KPMG's latest figures show that after two years of rising prices…

Labour's plans to end Britain's long term economic stagnation are supported by a group of economists including three Nobel Prize winners and a former Bank of England vice governor. The 16 UK-based and international economists, in a move…

Moody's, the credit rating agency, has withdrawn its monitoring of Warrington Council due to its inability to secure an auditor who would sign off on its accounts. This is despite growing concerns about the funding crisis for local…

In May, house prices in China fell at their fastest rate in nearly 10 years as an oversupply of properties hit the demand despite renewed government efforts to support the sector. In 70 cities, the price of new housing, excluding…

DFS' profits are being affected by the Red Sea disruption and slow demand for large-ticket purchases. The sofa retailer warned that it would have lower profits than expected due to "weak upholstery markets" and delays in deliveries of up…

The London Court has dismissed Argentina's appeal against a ruling which would have required it to pay $1.5bn to four hedge funds that bought its GDP-linked security. This is a major blow to the cash-strapped libertarian government of…

Goldman Sachs warned that tax increases are "inevitable", as the legacy of quantitative ease from the Bank of England will be felt after the elections. The American Investment Bank has stated that the losses from the quantitative easing…

According to a report by the Trades Union Congress, the UK has the highest rate of unemployment among the 38 richest countries in the world. The union group released a statement a day before the official figures on the labour market are…

According to a new study, hairdressers and takeaway restaurant have replaced clothing shops and banks in England and Wales. Public First, a policy research agency, argues in a report that online banking and ecommerce have led to…

The UK's private sector economy grew faster than expected in the last month, and inflation slowed to its lowest level in three years. This gives rise to hopes of interest rate reductions over the summer. The S&P Global and Chartered…

The German unemployment rate has increased by more than anticipated, putting an end to any hopes of a recovery from the downturn. The Federal Labor Agency reported that there were 25,000 more people without a job in May. This was far…

Jeremy Hunt’s plans to cut taxes before the election have been stymied after higher benefits spending and lower tax revenues pushed government borrowing over £20bn in July. The Office for National Statistics said that the Budget Deficit,…

Looming election and higher-than-predicted price rises push expectations back to November Investors are pushing back the expectation of a rate cut in this summer, even though Rishi Sunak has hailed an inflation drop as a major moment for…