Economy

UK gilts rose sharply on Monday as traders took advantage of comments made by a senior Bank of England official who suggested that the Bank may be prepared to consider lowering interest rates in mid-next year. After Huw Pill said that…

British Gas's owner Centrica has backed plans to build a 12-mile barrier that will prevent tidal flooding in The Wash, despite the backlash of green campaigners. The £3bn barrier would run from Skegness, Lincolnshire, to Hunstanton,…

As high interest rates squeeze finances, many British mortgage holders miss payments and have their debit cards refused. The number of mortgages that are in arrears on the UK residential portfolios of Pepper Advantage Technologies Ltd., a…

The financial markets may disagree with Bank of England Governor Andrew Bailey's claim that it is too early to consider rate cuts. The BOE is expected to cut the benchmark rate by up to three quarter points, or 4.5%, before the end of…

The Eurozone's GDP shrank over the last three months, while inflation fell faster than analysts had predicted. This indicates that the European Central Bank has tightened the economy's belt more than it was expected to. Eurostat's flash…

According to official statistics, corporate insolvencies in England & Wales reached their highest level since global financial crisis six months prior to September. Businesses were struggling with high borrowing rates and a slowing of…

Blackstone Group has sold a stake in the Spanish hotel group Hotel Investment Partners, to Singaporean sovereign fund GIC. This will allow for expansion of the business at a time where borrowing costs are on the rise. GIC is acquiring a…

The eurozone inflation rate fell to 2,9% in October, the lowest level for over two years. This has boosted expectations that European Central Bank won't raise interest rates any further. This is the lowest annual increase in consumer…

Noel Quinn is the chief executive officer of HBSC - the seventh largest bank in the world. He says that "a global reckoning" could be on its way. After the 2008 financial crash, and then again during the Covid epidemic, government debts…

In the last 50 years, three of the four debt tidal wave that hit the world economy ended in crisis. Latin America suffered a lost decade during the 1980s. Asia experienced a severe downturn during the 1990s. The 2008 global financial…

European Central Bank paused the most aggressive cycle of rate increases since the introduction of the Euro amid rising fears over the economy of the eurozone. The ECB made a widely anticipated decision on the financial markets by…

As Britain and India near a long-awaited trade agreement, a £1 billion ($1.2billion) segment of the UK's economy fears for its future. British rice millers like Tilda Ltd., Veetee Rice and others have prospered for decades importing brown…

Blackstone Group's top executive, who is the world's biggest alternative asset manager has warned of the impact that recent increases in US long-term government bond yields would have on consumers and the economy. Jonathan Gray,…

Hamas's "horrifying attack" on Israel , according to the head of the US Federal Reserve, could derail the recovery of global economies. Jerome Powell, the chairman of the Federal Reserve Board, said that policymakers are "proceeding…

Pension funds have resisted a UK government initiative to invest up £50bn into projects and businesses to support economic development, claiming that the country was not attractive enough for their capital. The £1.3tn industry executives…

A Bank of England rate-setter warned that Britain was slipping into a recession as official data indicated signs of a weakening labour market. Swati Dhingra said that there were "early indications" of a possible "over-tightening", as…

Staff shortages have slowed the recovery of two of London's finest hotels from the pandemic. The Savoy Hotel and The Dorchester warn that they are unable to keep up with the growing demand of wealthy tourists visiting London. In newly…

Conister Bank is the first Isle of Man lender to receive a UK deposit licence. The Prudential Regulation Authority has approved the branch of Manx Financial in Basingstoke in Hampshire to accept deposits. This will further increase…