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Economy
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…
Business France says goodbye to Emmanuel Macron’s pro-business agenda
After President Emmanuel Macron’s snap legislative election resulted in a hung Parliament, France’s corporate leaders prepare to say goodbye to a decade of business-friendly conditions.
On Sunday, many executives breathed a huge sigh…
Shein and Temu could be hurt by EU import duties on cheap goods
The EU has plans to charge customs duties on low-cost goods. This could affect imports from online retailers, and a London listing that was hoped for by fast-fashion seller Shein.
This potential change is a response to growing concerns…
The UK economy is slowed by the uncertainty surrounding the UK election
Although the private sector grew faster than originally estimated, domestic spending "stopped up" after the election as people delayed their purchases.
The composite purchasing manager's index, compiled jointly by S&P Global &…
Investors aiming for rate cuts flood cash into shares
Investors in Britain are anticipating a possible cut in interest rates, and have poured money into equity funds faster than ever before.
Calastone's latest data on funds flows shows that over £11 billion has been invested in equity funds…
Industry says delays in port infrastructure could threaten UK’s transition towards net zero.
Big ports say that the UK's transition towards net zero is threatened by delays in the approval of new infrastructure, which puts billions of dollars of investment into offshore wind schemes as well as other essential upgrades at risk.…
Lagarde warns Le Pen not to go on a reckless spending spree
Marine Le Pen's high-spending policy will be funded by debt, according to the president of the European Central Bank.
Christine Lagarde, who won the first round of France's snap elections just days before, made a veiled warning to the…
Private equity to take over workplace pensions
Legal & General announced a new fund that can handle billions of pounds. This will allow millions of employees to invest their workplace pension savings in illiquid assets.
L&G operates workplace pension schemes, including those…
The Baby Bust: How Britain’s declining birthrate is alarming the economy
Vanessa, a project manager in Brighton, 35, says that having children is an expensive luxury.
My friends who started a family received large sums from their parents in order to get onto the property ladder. For those who are not lucky…
Labour will seek to’stabilise position’ with Europe, rather than reopen Brexit…
Shadow business secretary said that Labour would prefer stability in the UK-Europe relationship than to try and accelerate economic growth through joining the EU's customs union or single market.
Jonathan Reynolds, speaking at the…
Bank of England warns that a global wave of elections may affect the UK financial system
The Bank of England warned that the uncertainty caused by the global wave of election, which will begin this coming weekend, could destabilise the UK financial system.
Officials are worried about the policies that newly-elected…