UK borrows more than expected ahead of Autumn Statement as tax cuts mooted November 21, 2023 The government borrowed more than expected in October, providing a “timely reminder” about the state of the UK’s fiscal position ahead of the Autumn Statement. According to figures from the Office for National Statistics, the government borrowed £14.9bn in October, £1.2bn more than had been pencilled in by the Office for Budget Responsibility (OBR). This [...]
UK economy: Retail sales crash as cost of living crunch continues to bite October 20, 2023 In an ominous sign for the UK economy, retail spending fell in September with analysts warning of a tough Christmas ahead
Federal Reserve: September rate cut ‘confirmed’ after latest releases August 22, 2024 A September rate cut looks nailed on after minutes from the US Federal Reserve’s last meeting, released last night, showed many rate-setters had considered a cut in July. Several members at the Fed’s last meeting thought there was a “plausible case” for cutting rates by 25 basis points given the progress on inflation and increases [...]
Compulsory liquidations hit highest level in almost six years August 20, 2024 New figures from the Insolvency Services showed that there were 320 compulsory liquidations in July, the highest number since before the pandemic.
FTSE 100 close: London’s blue-chip index closes higher after UK returns to growth while Mobico plunges October 12, 2023 London rose as The Restaurant Group's share soared and Mobico's plunged, while investors reacted to latest GDP statistics.
We’re (not) lovin’ it: McDonald’s posts first sales drop since 2020 July 29, 2024 Fast-food giant McDonalds posted a global sales drop of one per cent year on year in the three months to the end of June.
Rishi Sunak says we’ll feel better off next year – but is the PM right? August 18, 2023 Rishi Sunak has pledged Brits will all feel better off next year, as he said he “passionately believes” he can bring down inflation and ease the cost of living crisis. Speaking to the Times, the prime minister vowed to be disciplined on public spending and tax rates in a bid to revive the UK’s economic [...]
And another! EY upgrades forecasts for UK economy July 23, 2024 The UK received another upgrade on the back of its strong performance in the first half of the year, with EY the latest firm to bump up forecasts for the economy.
Wall Street drifts higher as a strong year for markets winds down December 28, 2023 Wall Street drifted to a slightly higher close as trading remained light during the holiday-shortened week. The subdued activity in the market with two trading days left in the year is capping off a broader rally to a strong finish. The S&P 500 is coming of its eight straight winning week and is hovering just [...]
Mortgage approvals rise as rates cool – but the housing market is not out of woods yet January 4, 2024 According to the latest reading from the Bank of England (BoE) net mortgage approvals for house purchases rose from 47,900 in October to 50,100 in November.